Keystone Bank Salary Structure In Nigeria- How Much They Pay Their Staff

This article will give am insight to the current salary structure of keystone bank.

Keystone Bank offers banking services to large corporations, public institutions, small to medium enterprises (SMEs) and individuals. The bank is a large financial services provider in Nigeria. As of December 2012, the bank’s total assets were valued at US$1.916 billion (NGN:307.5 billion), with shareholders’ equity valued at about US$213.3 million (NGN:34.23 billion).

On Friday 5 August 2011, Keystone Bank Limited was issued a commercial banking license by the Central Bank of Nigeria (CBN). On the same day, CBN revoked the banking license of Bank PHB. Keystone Bank assumed the assets and some liabilities of the now defunct Bank PHB.

On 22 March 2017, Asset Management Company of Nigeria announced that Keystone bank had been sold to investors for 25 billion naira ($81.5 million). It was sold to Sigma Golf-Riverbank consortium.

Keystone Bank Salary Structure in Nigeria

Graduate Trainees Salary

When you first get employed by a bank like Keystone bank, it is compulsory for you to undergo training. You will undergo some months of training which will introduce you to the banking system. As a trainee, Keystone Bank will pay you N43, 000 every month, while the training lasts.

Loan Officers Salary

One of such ranks a staff can be promoted is the loan officer’s rank. With the right qualification and experience, a staff of the Keystone Bank can be made a loan officer. Loan officers at the Central Bank are paid a monthly salary of N573, 000 per month.

Entry Level Salary

The Entry Level is the following rank in Keystone Bank upon completion of the trainee program. This rank puts you on the first stage of the Bank’s salary payscale, which will be subsequently increased. Keystone bank pays its entry level employees a salary of N60, 000 – N75, 000 on a monthly basis. This amout may slightly differ for some cases as it is paid according to department and unit the staff belong to. The good pay they offer to their new employees has made the bank to be considered to have more monetary benefits that some other long standing banks may perhaps be missing.

Credit Analysts Salary

Another rank that is usually occupied by staff, is the credit analyst rank. Credit analysts get paid a lot of money. Keystone Bank pays its credit analyst N310, 000 per month.

Branch Managers Salary

The moment you get a promotion letter that tells you that you are a branch manager, you should kiss poverty goodbye because if you however become a branch manager at the Keystone Bank, you will be paid N732, 000 Naira per month.

The salary gives a total of N8, 784, 000 annually in addition to some exclusive benefits that are specifically for the position. Though the position comes with a lot of responsibilities.

Conclusion

Keystone bank is a bank that is passionate for their employees. Apart from the salary aspect, the bank develop their new and existing staffs periodically, regardless of the rank they belong to. This is always by sending them to training, workshops and on further educational development, so as to broaden their skills and experience in the banking line.

Also, incentives on the form of bonuses is always given to staff, and to complement to the attractive salaries. This is why Keystone Bank is preferred by lots of job seekers and graduates who intend on the banking industries.

Fisayo James
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