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BANKING

GSB wins pay rise approval



Government Savings Bank's employees will receive the average 12.5 per cent pay rise, after the Cabinet's approval on Tuesday.

 

 High-ranking employees, from the level of senior directors upwards, will enjoy higher pay increases. The maximum pay is raised from Bt113,520 per month to Bt220,000.

 PM's Office deputy spokesman Vachara Kannikar said the bank will need to pay additional Bt43 million per month or Bt516 million per year or 1.14 per cent of 2009 revenue.

 GSB is the best performer among state-owned financial institutions, with the lowest non-performing loans at 3.31 per cent. Its assets, total revenue, deposits and lending are also the highest, but the pay structure is lower, according to the Finance Ministry. 

 



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