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Business / Finance

Bosses don't bare

Banki.ru: themes of the day 31.10.2017 at 21:00

Banking and financial news on the website Banki.ru

The Information-analytical service portal.ru has made a rating of the banks on the level of wages of higher management personnel in the first half of 2017.

the rating included the top 50 banks in terms of net assets, disclosed the relevant figures in its reporting.

the basis for the ranking was quarterly reporting issuers of securities that acted as a source of information about the managerial staff, as well as on the size and composition of remunerations paid in the first half of 2017. To calculate the average monthly wages of Board members and of the Board of Directors (Supervisory Board) used data on remuneration for the first half of 2017, which some banks also include compensation costs related to the activities of the Board and of the Board of Directors.

With the letter "A" to the letter "C"

The large payments to key management personnel for the first half of 2017 fall on the leading banks. First place by a considerable margin is now the largest private Bank — Alfa-Bank, where six members of the Board were paid of 1.96 billion rubles.

For "alpha" should be a constellation of public credit institutions, headed by the banks of VTB group: in second place in the payout Bank VTB 24 to 1.68 billion (10; here and below in parentheses specify the number of members of the Board). The third line is the VTB Bank of Moscow — RUB 1.2 billion (15). In fourth place for remuneration to top management is Gazprombank — RUB 1.2 billion (15). Only on the fifth place is Sberbank of Russia, earned in the first six months a profit of 317 billion rubles, and paid but while their "tops" are quite modest in comparison with the first four banks 0,6 billion (10).

the Sixth place occupies Bank "FC Opening", which is 29 August 2017 is in the process of reorganization of a new type (with the assistance of the Fund the consolidation of the banking sector), — now, you might say, the same state. The size of payments in the first half of the year in the "Discovery" amounted to about 0.5 billion rubles in respect of which the Bank of Russia and had serious claims against the former management of the Bank. Representatives of the regulator, including the head of the Central Bank Elvira Nabiullina, announced its intention to appeal the payment of unjustifiably large bonuses to management and dividends to shareholders of the Bank "Opening" in the first half of the year.

On the seventh place by the size of payments to key management personnel are unexpectedly located the Bank "East" is 0.35 billion (4). It is noteworthy that this is the first Bank in our ranking, not one of the top 10 in terms of assets, also showed a minimum profit — only 111 million rubles. Note that the stable part of the payment — the salary of members of the management Board amounted to 137,3 million roubles. The greater part formed of awards and bonuses (209,8 million rubles).

Completing the top ten leaders of the Moscow Credit Bank and 0.32 bn (10), Raiffeisenbank is 0.31 billion (6) and the Bank "Saint-Petersburg" is 0.31 billion (11).

the Name of the credit institution

license Number

the Number of members of the collegial Executive management body (the management Board)

the amount of the remuneration of the Board for the first half of 2017, thousand

average Monthly remuneration per Board member, thousand rubles

Net profit for the first half of 2017, thousand

alpha Bank

1326

6

1 985 272,9

146,5 55

19 273 250

VTB 24

1623

10

1 677 554,1

27 959,2

32 554 088

VTB Bank of Moscow

1000

13

1 210 103

15 514,1

27 226 730

Gazprombank

354

15

1 203 620

13 373,6

20 428 797

Sberbank of Russia

1481

10

633 500

10 558,3

316 963 837

the Bank "FC Opening"

2209

5

477 178,9

15 906

5 313 578

Bank "East"

1460

4

347 048,6

14 460,4

111 036

Credit Bank of Moscow

1978

10

327 233,3

5 453,9

1 145 607

Raiffeisenbank

3292

6

314 761,5

8 743,4

13 883 808

Bank "Saint Petersburg"

436

11

311 792,1

4 724,1

3 158 986

Salary independent of the profits

When faced with the unexpected results of the Bank "East", we decided to analyze the relationship between the remuneration of managers with the financial success of banks (profit margins).

In our sample were 38 banks excluding credit institutions, for which there are data, as well as the Bank "Peresvet" in which the payment is not made by reason of the reorganization. We have compared the size of profits in the first half with the amount of payments to Board members. To demonstrate the relationship of these parameters or the lack of it, was a calculated correlation coefficient. As of 1 July 2017 for our sample the correlation coefficient (with a range of assumptions and considering the small size of the sample) amounted to 0.22, which indicates a very weak relationship between the size of the profits and remuneration paid to management.

All in good measure. In addition to salary

Next, let's see, how much on average earn Board members of large banks. Obviously, the resulting figure reflects only "average temperature on hospital" and the remuneration of the chair stands out against payment of "ordinary" Board member. The average remuneration per one member of the management Board, was determined as a result of dividing the amount of remuneration for the first half of 2017, on the number of employees, members of the Board, and the number of months in the selected period (6). The results of the top 10 banks according to the monthly average remuneration per one member of the management Board, are presented in the following table.

the Name of the credit institution

license Number

average Monthly remuneration per Board member, thousand rubles

alpha Bank

1326

146,5 55

VTB 24

1623

27 959,2

the Bank "FC Opening"

2209

15 906

VTB Bank of Moscow

1000

15 514,1

Bank "East"

1460

14 460,4

Gazprombank

354

13 373,6

, Sberbank of Russia

1481

10 558,3

the Post the Bank

650

10 342,1

Raiffeisenbank

3292

8 743,4

Sovcombank

963

7 960,1

, We see that this rating is virtually identical to the ranking for payout, with the exception of ICB and the Bank "Saint Petersburg", which took place growing Mail the Bank and Sovcombank. It happened due to the smaller size of the Board the last banks (five in each Board). As a result, one member of the Board, the amount of payments in these banks was higher.

Crisis — time to earn. It's not taken away

by Comparing the payments and the size of the Board year-on-year (first half of 2016, with data for the first half of the current year), we found that the size of payments to the Board in some cases has shown remarkable momentum, rising by more than seven times.

the Name of the credit institution

license Number

Payments to the Board in the first six months of 2017, thousand

Payments to the Board in the first six months of 2016, thousand

Change, thousand rubles

Change, %

, Sberbank of Russia

1481

633 500

571 300

62 200

to 10.9%

VTB Bank of Moscow

1000

1 210 103

169 623

1 040 480

613,4%

Gazprombank

354

1 203 620

873 350

330 270

37,8%

VTB 24

1623

1 677 554,1

519 492

1 158 062,1

222,9%

agricultural Bank

3349

135 713

118 533

17 180

14,5%

alpha Bank

1326

1 985 272,9

584 437,2

1 400 835,7

239,7%

the Bank "FC Opening"

2209

477 178,9

705 265,1

-228 086,2

-32,3%

Credit Bank of Moscow

1978

327 233,3

47 of 268.2

279 965,1

592,3%

PSB

3251

67 744,2

74 113,1

-6 368,9

-8,6%

On this link you can see the entire study, and to learn the size of remuneration of members of boards of Directors in the largest banks.

Payments to top managers of Russian banks in the first half of 2017

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