• Home
  • News
  • Tech
  • Entertainment
  • Lifestyle
  • Review
  • Vacancies
Tuesday, May 30, 2023
News Ville
  • Home
  • News
    • All
    • Business
    • Politics
    • World
    Stanbic IBTC Completes Pan-African Payment System

    Stanbic IBTC Announces Fintech Subsidiary

    NOVA Merchant Bank Achieves Double Earnings Growth with Innovative Offerings

    NOVA Merchant Bank Achieves Double Earnings Growth with Innovative Offerings

    Location and Address of UBA Dubai

    UBA Expands Loan Portfolio By N605bn

    US Agency And Tony Elumelu Foundation Partner To Increase Trade

    UBA Foundation Empowers Women With Tech Skills

    CBN commends Access Bank on sustainable principles

    MFS Africa and Access Bank Partner to Expand AccessAfrica

    Wema Bank Gets New Managing Director

    Wema Bank Gets New Managing Director

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Tech
    CBN Knocks Banks, Removes ATM Maintenance Fee, Cuts Bank Charges, Others

    CBN Knocks Banks, Removes ATM Maintenance Fee, Cuts Bank Charges, Others

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
  • Entertainment
    • All
    • Movie
    • Music
    • Sports
    N10.5m Scholarship up for Grab as UBA Foundation Extends NEC 2022 Call for Entries – Newsvilleng

    N10.5m Scholarship up for Grab as UBA Foundation Extends NEC 2022 Call for Entries – Newsvilleng

    Africa Film Academy: Epe Class Premiers Long Walk To Forever-newsvilleng

    Africa Film Academy: Epe Class Premiers Long Walk To Forever-newsvilleng

    Will Smith: Your Love For Someone Can End You, Uti Nwachukwu Cautions

    Will Smith: Your Love For Someone Can End You, Uti Nwachukwu Cautions

    Actress, Destiny Etiko Buys An Expensive Car For Her Boyfriend

    Actress, Destiny Etiko Buys An Expensive Car For Her Boyfriend

    Cristiano Ronaldo Breaks Another Record, Becomes Highest Goal Scorer Of All Time

    Cristiano Ronaldo Breaks Another Record, Becomes Highest Goal Scorer Of All Time

    Wizkid Reacts To Davido’s Sold Out O2 Show, Picks His Favourite Performance

    Wizkid Reacts To Davido’s Sold Out O2 Show, Picks His Favourite Performance

  • Lifestyle
    • All
    • Food
    • Health
    A Popular Doctor Advises Women On How To Cure Fishy Vagina Smell

    A Popular Doctor Advises Women On How To Cure Fishy Vagina Smell

    Health Conditions That Can Cause Erectile Disfunction In Men – newsvilleNg

    Health Conditions That Can Cause Erectile Disfunction In Men – newsvilleNg

    Meet The Tallest Woman In The World

    Meet The Tallest Woman In The World

    Presco Plc reaches new All-Time-High, gains N3.25 billion in market value

    Presco Plc reaches new All-Time-High, gains N3.25 billion in market value

    Trending Tags

    • Golden Globes
    • Game of Thrones
    • MotoGP 2017
    • eSports
    • Fashion Week
  • Review
  • Vacancies
No Result
View All Result
  • Home
  • News
    • All
    • Business
    • Politics
    • World
    Stanbic IBTC Completes Pan-African Payment System

    Stanbic IBTC Announces Fintech Subsidiary

    NOVA Merchant Bank Achieves Double Earnings Growth with Innovative Offerings

    NOVA Merchant Bank Achieves Double Earnings Growth with Innovative Offerings

    Location and Address of UBA Dubai

    UBA Expands Loan Portfolio By N605bn

    US Agency And Tony Elumelu Foundation Partner To Increase Trade

    UBA Foundation Empowers Women With Tech Skills

    CBN commends Access Bank on sustainable principles

    MFS Africa and Access Bank Partner to Expand AccessAfrica

    Wema Bank Gets New Managing Director

    Wema Bank Gets New Managing Director

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Tech
    CBN Knocks Banks, Removes ATM Maintenance Fee, Cuts Bank Charges, Others

    CBN Knocks Banks, Removes ATM Maintenance Fee, Cuts Bank Charges, Others

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
  • Entertainment
    • All
    • Movie
    • Music
    • Sports
    N10.5m Scholarship up for Grab as UBA Foundation Extends NEC 2022 Call for Entries – Newsvilleng

    N10.5m Scholarship up for Grab as UBA Foundation Extends NEC 2022 Call for Entries – Newsvilleng

    Africa Film Academy: Epe Class Premiers Long Walk To Forever-newsvilleng

    Africa Film Academy: Epe Class Premiers Long Walk To Forever-newsvilleng

    Will Smith: Your Love For Someone Can End You, Uti Nwachukwu Cautions

    Will Smith: Your Love For Someone Can End You, Uti Nwachukwu Cautions

    Actress, Destiny Etiko Buys An Expensive Car For Her Boyfriend

    Actress, Destiny Etiko Buys An Expensive Car For Her Boyfriend

    Cristiano Ronaldo Breaks Another Record, Becomes Highest Goal Scorer Of All Time

    Cristiano Ronaldo Breaks Another Record, Becomes Highest Goal Scorer Of All Time

    Wizkid Reacts To Davido’s Sold Out O2 Show, Picks His Favourite Performance

    Wizkid Reacts To Davido’s Sold Out O2 Show, Picks His Favourite Performance

  • Lifestyle
    • All
    • Food
    • Health
    A Popular Doctor Advises Women On How To Cure Fishy Vagina Smell

    A Popular Doctor Advises Women On How To Cure Fishy Vagina Smell

    Health Conditions That Can Cause Erectile Disfunction In Men – newsvilleNg

    Health Conditions That Can Cause Erectile Disfunction In Men – newsvilleNg

    Meet The Tallest Woman In The World

    Meet The Tallest Woman In The World

    Presco Plc reaches new All-Time-High, gains N3.25 billion in market value

    Presco Plc reaches new All-Time-High, gains N3.25 billion in market value

    Trending Tags

    • Golden Globes
    • Game of Thrones
    • MotoGP 2017
    • eSports
    • Fashion Week
  • Review
  • Vacancies
No Result
View All Result
News Ville
No Result
View All Result

Access Bank, First Bank, other Banks Pay N163.58bn as Salaries in Q1 2022

June 24, 2022
in Finance
ShareTweetSend
Access Bank, First Bank, other Banks Pay N163.58bn as Salaries in Q1 2022

Related Posts

Stanbic IBTC Completes Pan-African Payment System
Finance

Stanbic IBTC Announces Fintech Subsidiary

May 20, 2023
UBA GMD, Oliver Alawuba, Increases UBA Shareholding with 9.5 Million Shares
Uncategorized

UBA GMD, Oliver Alawuba, Increases UBA Shareholding with 9.5 Million Shares

May 19, 2023
NOVA Merchant Bank Achieves Double Earnings Growth with Innovative Offerings
Business

NOVA Merchant Bank Achieves Double Earnings Growth with Innovative Offerings

May 17, 2023
Location and Address of UBA Dubai
Finance

UBA Expands Loan Portfolio By N605bn

April 14, 2023
US Agency And Tony Elumelu Foundation Partner To Increase Trade
Finance

UBA Foundation Empowers Women With Tech Skills

April 14, 2023

At least, thirteen listed commercial banks paid a sum of N163.58 billion as personnel expenses in the first quarter of 2022, an increase of 14 per cent when compared to the N143.48 billion paid to their staff in the corresponding period of 2021.

The banks do not report their staff strength in their unaudited financial statement, however, based on the audited reports of the banks, they have a total staff strength of over 50,900 as of December 2021.

According to the financial reports of Access, FCMB, Fidelity, First Bank, GT Bank, Jaiz Bank, Stanbic IBTC, Sterling, UBA, Union, Unity, Wema, and Zenith Bank, Access Bank led with N29.25 billion.

The recently restructured bank paid a sum of N29.25 billion to its employees as total package in the first quarter of 2022, an increase of 45.8 per cent compared to N20.06 billion spent in the corresponding period of 2021.

They paid N27.68 billion as wages and salaries while others were restricted to share performance plans, contributions to defined contribution plans, and retirement benefit obligations.

FBN Holdings, which is a highly diversified financial holding company spent a sum of N25.62 billion as total employee expenses in the period, a marginal increase compared to N24.81 billion spent in the previous year.

The company had paid N128.77 billion to its employees for the entire year in 2021, which is the highest paid by any of the banks in the year. FBN was also the highest paying bank in the first quarter of 2021.

United Bank for Africa is third on the list, having spent N25.58 billion on employee expenses in the first quarter of the year, a 20 per cent increase compared to N21.31 billion spent in the corresponding period of 2021.

Out of the total employee package for the period under review, the bank paid N24.79 billion as staff salaries, accounting for 96.9 per cent of the total employee remuneration. In similar fashion as the other banks, UBA’s staff strength reduced to 10,193 as of December 2021 from 10,817 recorded in the previous year.

The most capitalized bank listed on the stock exchange spent a sum of N21.54 billion on employee expenses in the review quarter, which is 16.1 per cent higher than the N18.55 billion paid in the first quarter of 2021.

In terms of staff strength, the bank boasts of 7,517 employees as of December 2021, which is slightly lower than the 7,544 employees on its payroll the previous year.

Stanbic IBTC paid a sum of N12.38 billion as total employee expenses in the first quarter of 2022, increasing by 30.6 per cent compared to N9.48 billion paid in the corresponding period of the previous year.

The holding company reduced its staff strength in the previous year to 2,895 as of December 2021 from 2,972 staff recorded in the previous year.

Others on the list include, Unity Bank – N10.54 billion; GT Bank – N9.82 billion; FCMB – N7.61 billion; Union Bank – N5.79 billion and Fidelity Bank – N5.5 billion

Breaking News

“I Built My Page With My Nyash. I Will Shake It Forever,” Instagram Influencer, Janemena

“I Built My Page With My Nyash. I Will Shake It Forever,” Instagram Influencer, Janemena

February 4, 2022
0

Nigerian dancer and Instagram influencer Usiwo Orezimena Jane, popularly known as Janemena, has revealed that she built her social media...

Regina Daniels’ Husband, Ned Nwoko Clears Air On His New Marriage, Dumping Regina Daniels

Regina Daniels’ Husband, Ned Nwoko Clears Air On His New Marriage, Dumping Regina Daniels

February 21, 2022
0

Regina Daniels' Husband, Ned Nwoko Clears Air On His New Marriage, Dumping Regina Daniels Popular businessman, honourable Ned Nwoko, has...

Actress, Destiny Etiko Buys An Expensive Car For Her Boyfriend

Actress, Destiny Etiko Buys An Expensive Car For Her Boyfriend

March 13, 2022
0

Actress, Destiny Etiko surprised her boyfriend, Success John with an expensive car. Beautiful and curvy Nollywood actress, Destiny Etiko surprised...

Meet 13-Year-Old Igbo Boy, Chinonso Eche, A 4 Times Guinness World Record Holder

Meet 13-Year-Old Igbo Boy, Chinonso Eche, A 4 Times Guinness World Record Holder

November 30, 2021
0

A 13-old-boy, Chinonso Eche from Enugu Ukwu in Anambra State has made Nigeria and Nigerians proud as he broke three...

CBN Increases Online Transfer Limit For Individuals And Companies

CBN Disburses N75.9bn Loan To Farmers In Two Months

August 15, 2022
0

Muhammadu Buhari The Central Bank of Nigeria (CBN) has said that it disbursed N75.9 billion loan to farmers between last...

Odion Ighalo Gives Reason He Left His Formal Club

Odion Ighalo Gives Reason He Left His Formal Club

February 18, 2022
0

Odion Ighalo Gives Reason He Left His Formal Club Super Eagles and former Manchester United striker, Odion Ighalo, has revealed...

Share on FacebookShare on TwitterShare on Whatsapp

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Next Post
NCS generates over N104.7m in Katsina Few Months After Border Opening

NCS generates over N104.7m in Katsina Few Months After Border Opening

  • Advertise
  • Privacy & Policy
  • Contact
Call us: +234 813 466 5168

© 2021 Newsville Nigeria - Designed by Belomth Digitals.

No Result
View All Result
  • Home
  • News
  • Tech
  • Entertainment
  • Lifestyle
  • Review
  • Vacancies

© 2021 Newsville Nigeria - Designed by Belomth Digitals.