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Bank employees, 3,600 RON net average income in March

Bank employees, 3,600 RON net average income in March
04.06.2008, 20:54 8

Over the last few years the need for personnel has risen considerably, largely because of the rapid expansion of territorial networks. Although most players that invested to strengthen their territorial presence opted for small branches staffed by only 4-5 people, the large number of bank offices opened ma de the switch of employees from back office to sales insufficient.
Since December 2005, 2,192 branches have been added to the banking network, an increase of 62%. All players, from the largest to the smallest, have embraced expansion strategies. Only CEC, which still has biggest network (around 1,400 branches) could afford to not open any new ones.
Out of the overall number of employees in the banking system, 18,450 work in banks' central offices. As a result, almost 48,800 employees are left to operate across a network of 5,700 agencies and subsidiaries, which accounts for an average of 8-9 people per branch.
The tight competition for personnel has put pressure on salaries, and the arrival of new players, which rapidly needed to build strong teams, further boosted salaries.
Catalin Parvu, general manager in charge of retail and operations at Piraeus Bank, recently indicated that wages climbed faster than productivity, and affected organisations' efficiency.
Bankers believe they are compelled to invest in the training of young employees, as college training does not cover the necessary practical needs. The training of personnel is becoming an ever more delicate issue as the quality of services becomes the main differentiating factor given the strong territorial expansion of a large number of banks. Despite bankers' increasingly focusing on efficiency, after a period of several years when the battle for market share has been at the fore, statistical data conveys a different image.
In the first three months, 225 new branches were opened, which indicates an annualised growth of 900 branches. This has occurred at a time when bankers are speaking about boosting the use of alternative distribution channels and selling more products and services per customer.
According to National Statistics Institute data, banking employees in March posted net average earnings of almost 3,600 RON, three times above the economic average.
Compared with the previous year however, the increase amounts to only 8% in real terms. However, the salary growth rate has been distorted by the arrival of a large number of new employees that earn lower salaries.
NBR data also show banks managed to maintain employees' efficiency and the new employees managed to generate higher turnovers. Average profit per employee climbed to a peak of 12,700 euros last year.

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