Banks hire more staff, double wage bills on inflation

Oct. 5, 2024 - Businessday

Zenith Bank’s wage bill also increased by 64 percent year-on-year to N63.5 billion, from N38.

6 billion in H1 2023. Similarly, Wema Bank’s wage also went up by 77 percent to N15.

6 billion, from N8.8 billion in H1 2023.

Sterling Bank’s wage bill also jumped by 41 percent year-on-year to N12.5 billion, from N8.

9 billion as of H1 2023. Jaiz Bank’s wage bill went up by 78 percent to N5.

5 billion, from N3.1 billion in H1 2023.

UBA’s employee count between H1 2023 and H1 2024 increased marginally by 3 percemnt or 338, from 9,751 to 10,089...