Staff cost formed nearly half of total operating cost of the BRE Group at the end of 2012, up from only 39% in 2001 when BRE was more a corporate-oriented bank.
This is partly a result of the retail expansion (number of employees has increased from 4,114 in 2004 to 6,138 in 2012) and wage growth. In between 2004-2012, the average staff cost has risen by 74% in the USD-terms, from USD 1,944 to USD 3,373 per employee in 2012
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