Банкеръ Weekly

Briefs

DSK BANK TO INCREASE SALARIES

DSK Bank Management Board will discuss the possibilities for increasing the basic monthly salary of its staff. They are working on several versions of salary increases, which will be included in the bank's draft business plan for 2001. It should be voted by the Management Board and later approved by the Supervisory Board of the credit institution.
At present our employees get the lowest pay in the Bulgarian financial and credit system, said to the Banker weekly Violina Marinova, DSK Bank Executive Director. Even BNB reminded us we have to increase it, added Marinova.
According to her the average gross salary at DSK Bank since the beginning of 2000 till the end of November 2000 is BGL296. This amount is formed of the basic monthly salary, which is BGL240 and about 20% service allowance.
In November we paid to our employees thirteenth salary, which is automatically added to their monthly pay in the PL report. That is why it seems that the average salary in the bank is BGL580. For 2000 the average monthly salary will hardly exceed BGL360. And this is much lower compared to the other big banks, explained Marinova.
Salary increase in DSK Bank, she thinks, is mandatory in order to keep the staff. Since 1997 till the end of 2000 the bank management has reduced its number from 8000 to 5500 employees.
If we want to keep them, we have to offer them an adequate compensation, said the DSK Bank Executive Director. Besides that, according to her, the employees fully deserve the salary increase. While in 1997 a lot of our branches were incurring losses, at present there is no regional office reporting anything but a positive result, said Marinova.
That was the most important indicator for the management when they were calculating the good performance bonuses, distributed in December. The staff of the most successful branches received upto four gross salaries.
Should the DSK Bank Management Board be successful in negotiating salary increase with the Supervisory Board, this would mean both an increase of the absolute value of the service allowance and the annual good performance bonuses.

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