crashtwinsanity| Ping An Bank cuts wages? The employee confirmed that it was true

Chinanews.com, May 11 / PRNewswire-FirstCall-Asianet / (Zhongxin Finance and Economics Gong Hongyu) the news of "pay cut" came out again from the "high salary" financial industry.CrashtwinsanityOh, this is Daxing safe.

On May 10, the news of "pay cut for the current month's performance of Ping an Bank employees" sparked a heated debate. According to a number of media reports, such as the Financial Associated Press, Ping an employees reported that the monthly performance bonuses of their own and their departments were "discounted" to varying degrees and spread widely. Except for the non-discount of the first 10% of the performance, the rest are discounted to varying degrees according to different echelons, ranging from 10% discount to zero distribution.

In response, Zhongxin Finance and Economics confirmed from Ping an's internal employees that the pay cut "does exist."

Ping an employees told the media that the core reason for Ping an's pay cut is that the overall bonus package shrank as a result of poor performance in the first quarter.

The first quarterly report of Ping an Bank in 2024 shows that Ping an Bank achieved operating income of 387 in the first quarter.Crashtwinsanity70 million yuan, down 14 percent from the same period last year. Net profit attributable to the bank's shareholders was 14.932 billion yuan, up 2.3 per cent from a year earlier.

As for the reasons for the decline in revenue, Ping an Bank said it was mainly affected by factors such as the continued real economy and the adjustment of asset structure. The net profit of Ping an Bank has increased due to factors such as digital transformation driving operation to reduce costs and efficiency, strengthening asset quality control, and strengthening the collection and disposal of non-performing assets.

As a matter of fact, the per capita salary of Ping an Bank has already been reduced to 480100 yuan in 2023. According to the annual report, Ping an Bank's operating income also "shrunk" by 8.4% in 2023.

However, against the backdrop of narrowing spreads, Ping an is not the only bank that is "living a tight life". Zhongxin Finance and Economics noted that in 2023, the per capita salaries of Citic Bank, Everbright Bank, China Merchants Bank and other banks were all reduced. (end)

(article source: Chinanews.com)