Kuda Bank is a digital-only bank that operates in Nigeria. It was founded in 2018 by Babs Ogundeyi and Musty Mustapha with the aim of providing access to banking services to Nigerians who may not have access to traditional banking services.
In this article, we shall take a look at Kuda bank brief history, its salary structures for its staff, ranging from Bank interns, entry level, graduate trainees to the senior management positions, their employment opportunities and of course factors that determine the Bank Salary Structures for their numerous staff payrolls in Nigeria.
Kuda Bank offers a range of services, including personal accounts, business accounts, loans and bill payments, all accessible through their mobile app.
The bank also offers a debit card that can be used for ATM withdrawals and online purchases.
Kuda Bank’s services are available through their mobile app, which allows users to open a bank account, make deposits, transfer money, pay bills, and more. In addition, Kuda Bank offers a debit card that can be used for ATM withdrawals and online purchases.
Since its inception, Kuda Bank has seen significant growth and has become one of the leading digital banks in Nigeria.
In 2020, the company raised $10 million in a funding round led by Target Global, a venture capital firm. The funds were used to expand the bank’s services and increase its customer base.
Kuda bank has done excellently well within its short time of its existence in the financial market by providing banking operations with highly innovative services, ranging from business advisory, portfolio management, personalized relationship management, fast tracked service delivery and self service solutions.
It also has a primary aim to promote values for institutions, agencies, SMEs and HNIs. To this end, the bank focuses on developing expertise as well as partnering with the non-oil sectors of the Nigerian economy like Agriculture, Mining, E-Commerce, Hospitality, Arts and Entertainment.
Kuda bank currently maintains a pace and responding to the dynamic needs of its customers, investors, employees, host communities and other stakeholders in line with the contemporary global financial services.
The bank is also known for its revolutionary efforts by providing customers quick access to loan with their first of its kind digital lending product, quick credit which gives the individuals and small businesses instant, real-time access to loans anytime, anywhere.
Kuda Bank has also received recognition for its innovative approach to banking. In 2020, the bank was named the Best Digital Bank in Nigeria by the International Business Magazine Awards.
The company has also been featured in various publications, including TechCrunch and Forbes.
Kuda Bank Salary Structures For Staff
As for salary structures at Kuda Bank, employees are well paid in line with the contemporary banking services.
Below are the salary structures for staff of Kuda bank.
The average salary for a customer support representative at Kuda Bank in Nigeria is around ₦100,000 per month. Salaries may vary depending on the job position, experience, and other factors.
Graduate Trainees: are fresh graduates from Nigerian Universities who undergo the compulsory 4-5 months training with Providus bank to handle other sensitive positions as they grow higher. They earn about N74,000 monthly after which they are absorbed into the banking operations as entry level with significant salary increase.
Entry Level Staff: forms workers who have received training and absorbed fully as permanent staff in the bank. They earn about N130,000 monthly, excluding bonuses and allowances attached. As they progress, they are promoted in line with their status of various offices.
Assistant Banking Officers: occupy higher positions with multiple functions in the bank. They earn as much as N250,000 totally a yearly sum of N3 million.
Banking Officers: are saddled with weight of responsibilities. They earn about N350,000 per month, totalling N4.2 million yearly.
Senior Banking Officers: These categories of staff with Kuda bank earn about N500,000 monthly which amounts to about N6 million yearly, excluding watering bonuses and allowances attached.
Assistant Managers: Have higher responsibilities than senior banking officers in Kuda bank. They earn as much as N650,000 monthly and a yearly sum of about N7.8 million.
Deputy Managers: These categories of staff in Kuda bank have weight of responsibilities in the bank with a monthly take home of about N800,000 and yearly earnings of N9.6 million.
Branch Managers in Kuda bank are the highest management employees or staff charged with the responsibilities of running the day to day particular branch of the bank. They earn as much as N1.3 million which amounts to about N15.6 million yearly.
In summary, Kuda Bank has fared well since its inception, and its growth and success are a testament to the increasing demand for digital banking services in Nigeria.
So, job seekers in the categories of graduate trainees and those who have the intention to move from other sister banks in Nigeria to Kuda bank will find the information provided here very useful.