This information was gathered painstakingly over a period of time and collated for your information and decision making while taking up a banking job.

Note that it does not represent the actual salary of any bank.

However it is based on Industries average standard.

Its amazing to note that a typical bank will shell out about N20billion in salary payment alone annually. This is excluding recurrent expenditure and other miscellaneous expenses

A times I wonder how these banks generate such amount of money.

Union Bank and Keystone Bank just did an upward review of salary so I believe their total annual payment of staff salaries would be higher than the N20 billion as already stated.

If you are skeptical about this, then see the break down as part of my research

Inova:
This information was gathered painstakingly over a period of time and collated for your information and decision making while taking up a banking job.

Note that it does not represent the actual salary of any bank.

However it is based on Industries average standard.

Its amazing to note that a typical bank will shell out about N20billion in salary payment alone annually. This is excluding recurrent expenditure and other miscellaneous expenses

A times I wonder how these banks generate such amount of money.

Union Bank and Keystone Bank just did an upward review of salary so I believe their total annual payment of staff salaries would be higher than the N20 billion as already stated.

If you are skeptical about this, then see the break down as part of my research

Did u just say u wonder how banks generation such money?

You will be surprised at what common deduction of #10 from each customer account will amount to...

Inova:
This information was gathered painstakingly over a period of time and collated for your information and decision making while taking up a banking job.

Note that it does not represent the actual salary of any bank.

However it is based on Industries average standard.

Its amazing to note that a typical bank will shell out about N20billion in salary payment alone annually. This is excluding recurrent expenditure and other miscellaneous expenses

A times I wonder how these banks generate such amount of money.

Union Bank and Keystone Bank just did an upward review of salary so I believe their total annual payment of staff salaries would be higher than the N20 billion as already stated.

If you are skeptical about this, then see the break down as part of my research

and they make trillions in profit

ifeanyija:
and they make trillions in profit

That's a little exaggerated. However I will need any nairalander in Financial Control to explain further

So?

How much is N20 billion?

chloride6:
So?

How much is N20 billion?

I want to believe you are just being sarcastic.....

N20 billion is about the amount required to procure a commercial banking licence from CBN (₦25B to be exact).

It is about the minimum required to be deposited with CBN as insurance for your money kept in the bank.

To you it looks small because of the brazzen theft you are used to hearing and seeing in the media.

Inova:


I want to believe you are just being sarcastic.....

N20 billion is about the amount required to procure a commercial banking licence from CBN (₦25B to be exact).

It is about the minimum required to be deposited with CBN as insurance for your money kept in the bank.

To you it looks small because of the brazzen theft you are used to hearing and seeing in the media.

A tier 1 banks has at least 1 trillion in assets.

A net interest income of just 10 percent brings profits to 100 billion.

So I ask again, how much is 20 billion?

chloride6:


A tier 1 banks has at least 1 trillion in assets.

A net interest income of just 10 percent brings profits to 100 billion.

So I ask again, how much is 20 billion?

Thanks for the information. While the question you further asked is not required.

Inova:


That's a little exaggerated. However I will need any nairalander in Financial Control to explain further

i work with a pension fund administrator, we make trillions yearly

Inova:


I want to believe you are just being sarcastic.....

N20 billion is about the amount required to procure a commercial banking licence from CBN (₦25B to be exact).

It is about the minimum required to be deposited with CBN as insurance for your money kept in the bank.

To you it looks small because of the brazzen theft you are used to hearing and seeing in the media.

the banks are not complaining, since u don't know how banks make their money and how much they make yearly