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[Apha Biz=(Chicago) Reporter Paul Lee] Woori Bank has the lowest productivity among the top five commercial banks, the report showed. The productivity of these banks, which were calculated as profits per employee before accumulating provisions, was only 50∼80% of Internet banks.
According to the management disclosure report of five major commercial banks, including KB Kookmin, Shinhan, Hana, Woori and NH Nonghyup, on the 3rd, Woori Bank (159 million won) had the lowest profit per employee as of the end of June this year, followed by Hana Bank (188 million won), KB Kookmin Bank (179 million won) and Shinhan Bank (177 million won).
Hana Bank saw its productivity improve the most during the year. Hana Bank's profit per employee increased by 66 million won from a year ago. Except for Woori Bank (+ 6 million won), NH Nonghyup Bank (+ 61 million won), KB Kookmin Bank (+ 42 million won), and Shinhan Bank (+ 12 million won) also saw a significant improvement in profits per capita.
However, the productivity gap with Internet banks has widened. K-Bank's per employee profit was the highest at 300 million won, while Toss Bank and Kakao Bank were 273 million won and 253 million won, respectively. The average income of a K-Bank employee is about twice that of Woori Bank.
The productivity improvement of the five major commercial banks was largely attributed to the reduction in personnel that continued until the first half of this year (January and June). The total number of domestic employees at these banks was 67,408 in June this year, down 820 from the previous year. There are 141 stores that have been closed for a year. This is in contrast to the fact that all three Internet banks have increased their workforce compared to a year ago, but their productivity has improved significantly. Toss Bank saw its per-employee profit increase by 484 million won while its employees increased by 154.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
