Dubai’s biggest bank gives staff a pay rise for inflation

Dubai’s biggest bank gives staff a pay rise for inflation

The increases varied according to seniority and were part of a mid-cycle salary adjustment for inflation, with top executives receiving smaller or no increases

Most of the bank's employees received a pay rise of between five per cent and eight per cent, with lower-paid staff receiving the biggest increase. — File photo

By Reuters Published: Tue 9 Aug 2022, 6:10 PM

Dubai’s biggest bank Emirates NBD has given most employees a pay rise of up to eight per cent to help cushion against rising costs of living driven by inflation, two sources familiar with the matter said.

The increases varied according to seniority and were part of a mid-cycle salary adjustment for inflation, with top executives receiving smaller or no increases, the sources said.

Most employees received a pay rise of between five per cent and eight per cent, with lower-paid staff receiving the biggest increase, one of the sources, who has direct knowledge of the matter, said.

Emirates NBD, majority owned by Dubai’s government, said it did not comment on staff-related matters.

“As a people-first organisation and a leading employer, Emirates NBD has remained committed to initiatives and policies that support staff wellbeing, while adopting a robust employee recognition program,” a spokesperson added in an emailed