In this article, we will enlighten you on Keystone Bank salary structure in Nigeria currently in order for you to know how much they pay their members of staff, especially their entry level workers, as well as the monthly earnings of some other employees at different levels and positions in the company.
Keystone Bank, like every other bank in the country, is one of the best places where many Nigerian university graduates enjoy working at, and one of the reasons for this is the fact that a number of the leading banks in the country love to employ people from every discipline and pay them attractive salaries per month as long as they have the willingness to learn and adapt to the ways banks operate. Keystone Bank Limited when compared to every other company in their line of business, are up there when it comes to the pay package for their entry level staff and other employees in the country, and we shall be looking at the figures shortly.
HISTORY OF KEYSTONE BANK NIGERIA LIMITED
Keystone Bank Limited was granted a commercial banking licence in 2011 by the Central Bank of Nigeria (CBN) as a successor bank to the erstwhile BankPHB. The Bank currently has 154 branches, in addition to two (2) international subsidiaries and one (1) local insurance company inherited from the predecessor bank. The subsidiaries include: Global Bank Liberia; Keystone Bank, Sierra Leone; and KBL Insurance.
Keystone Bank Limited has a rich history and its existence can be traced to 1981 when it was originally founded as Habib Bank Nigeria Limited. In 2001, Platinum Bank was established and a merger took place between Habib Nigeria and Platinum Bank to form BankPHB in 2005. This financial institution was to evolve again when in 2011, Asset Management Corporation of Nigeria (AMCON) purchased shares of Keystone Bank, making sure that BankPHB assets, deposit liabilities and certain other liabilities transferred to newly created Keystone Bank.
On March 24, 2017, new investors Sigma GolfRiverbank Consortium took over management of Keystone Bank Limited following the completion of AMCON’s divestment from the bank and on April 1, 2017, a 5-man transitional board comprising 2 members of immediate past board as Executive Directors was set-up in order to ensure continuity and stability of this financial institution.
Effective August 15, 2017, a substantive MD/CEO assumed office, marking the successful end of a seamless transition. The appointment of a substantive board and executive members marked a major milestone in a seamless transition process, further strengthening the bank as one of the most professional in the financial sector in Nigeria today. That said, let us now look at the salary structure of Keystone Bank in detail.
KEYSTONE BANK SALARY STRUCTURE IN NIGERIA: HOW MUCH THEY PAY THEIR WORKERS
Our focus will be on graduate trainees, entry level workers as well as senior banking officers and managers as we look at the salary scale of Keystone Bank Limited in Nigeria today.
KEYSTONE BANK GRADUATE TRAINEES SALARY SCALE
Graduate trainees at Keystone Bank are paid monthly salaries in the range between ₦40,000 – ₦50,000 per month. These are freshly employed members of staff that are trained for a duration of about four (4) – six (6) months on the way the bank operates with a view to integrate them fully in some senior roles in the future.
HOW MUCH ENTRY LEVEL STAFF ARE PAID PER MONTH AT KEYSTONE BANK
On the average, the basic salary structure for entry level workers at Keystone Bank in Nigeria currently is about ₦107,000 per month. Entry level salaries for employees at Keystone Bank in the country ranges around the pay scale between ₦95,000 – ₦120,000 monthly. This excludes allowances and bonuses which when added, will further increase their pay.
LOAN OFFICERS SALARY STRUCTURE AT KEYSTONE BANK NIGERIA
Loan Officers at Keystone Bank are paid a monthly salary between ₦300,000 – ₦450,000. This position is senior to the entry level employee position at the bank and the pay is effective when an entry level worker is promoted. Experience and the right academic and professional qualifications can get one promoted as the bank sees fit.
HOW MUCH ARE CREDIT ANALYSTS PAID AS MONTHLY SALARY AT KEYSTONE BANK?
Credit Analysts at Keystone Bank earn monthly salaries between ₦400,000 – ₦500,000 currently. The figures are estimates and may be higher. Their roles are very important in the bank and people who are employed at this position get paid really attractively as they are highly intelligent and very professional in the discharge of their duties. Allowances and bonuses increase their pay significantly.
SALARY STRUCTURE OF BRANCH MANAGERS AT KEYSTONE BANK NIGERIA LIMITED PER MONTH
Branch Managers are senior executives at the bank who are in charge of the day-to-day running of their various bank branches. They are the highest paid Keystone Bank employees at their various branches and their salaries per month is an estimated ₦732,000 which totals of just over ₦8 million every year.
To become a bank manager, one has to be very outstanding in the their duties right from their first day as a graduate trainee. This is because the position is limited and it requires only one person at a time for the top job.