Despite recession and salary fund adjustments, ten banks paidmore than 1,300 euros per employee in December.
The employees of the foreign bank branches are among thehighest-paid bankers in Romania, with net average incomes higherthan the banking system average, which stood at 3,760 RON (895euros) per employee in December 2009.
Anglo-Romanian Bank, the branch of the London subsidiary of BCRgroup is the definite leader of the ranking, with 2,785 euros peremployee; it specialises in corporate banking services and has only100 employees, which allowed it to pay high salaries because itstayed profitable. The local branch of Spanish La Caixa group,which operates with only 7 people and has a low business volume,paid almost 2,500 euros as average salary last year, mainly as aresult of the expat income of the bank's boss.
The second criterion that allowed banks paying above averagesalaries to stand out is the focus on corporate business, whichturns out to be more stable when the portfolio includes majorforeign and local companies. This is why RBS came out third inDecember, which 2,250 euros in average net salary; in this casetreasury-related expertise generated significant earnings.
The same two criteria are what put the local branches of Bank ofCyprus, Citibank and ING into the top ten. State-owned Eximbank,which only works with companies, came out fifth, with about 1,900euros per employee.
The market leader, BCR, paid 1,300 euros in net amount on theaverage, ranking 10th, as it kept the highest number of employees,over 8,700, despite restructuring over the last three years. Inall, 14 banks paid salaries above the market average inDecember.
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