Maybank Singapore announced on February 28 that it will provide its junior employees with a one-time payment of S$1,250 (RM4,127) each as a “gesture of appreciation and support.”
The bank stated that this payment aims to help eligible staff “manage the rising costs of living while affirming the bank’s commitment to a holistic employee value proposition that includes market-competitive rewards.”
While the exact number of eligible staff was not specified, Maybank mentioned that the payment applies to all junior employees “across all its entities,” particularly those in officer and below ranks.
This is not the first time Maybank Singapore has issued such payments to its junior staff. In March 2024, the bank provided 141 junior employees with a one-time payment of up to S$1,250 (RM4,127) each in February 2024 “to help them cope with rising costs of living.”
The total payment at that time amounted to “close to S$169,500 (RM559,756).”
Meanwhile, other local banks are also issuing similar payments. DBS Group announced earlier this month that it would pay a special one-time bonus of S$1,000 (RM3,302) to all its employees, except senior managers, following a record performance in 2024.
On December 23, 2024, OCBC Group announced that it would give around 4,000 junior employees across the group in Singapore a S$1,000 (RM3,302) payout each to address cost of living concerns.
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