Prudential Bank Staff Stage Protest Over Alleged Salary Inequalities, Employees Demand Transparency

A section of employees at Prudential Bank Ghana Limited have launched a protest against what they describe as unequal and unfair salary adjustments by the bank’s new management team. The demonstration, which began at the bank’s head office in Accra on Wednesday, October 22, 2025, reflects growing discontent among staff over what they see as selective pay increases and lack of transparency in internal compensation policies.

According to sources who spoke to the media, the protest was triggered by management’s decision to raise salaries for a limited group of junior staff while allegedly excluding long-serving employees who have been with the bank for years. The employees argue that the move has created division within the workforce and eroded morale.

The protesting staff allege that the pay review was not applied uniformly across departments, despite assurances from management that any salary adjustment would be fair and equitable. Some employees claim that the increases were implemented quietly and limited to a few individuals, mostly in lower or newly recruited categories, without formal communication to the rest of the staff.

In addition to salary discrepancies, reports indicate that fuel allowances have been introduced for select employees, a decision that others describe as discriminatory. “It’s not about how much was given; it’s about fairness,” said one employee, speaking anonymously. “We’ve worked here for more than a decade, but new staff are being rewarded while the rest of us are ignored.”

The Industrial and Commercial Workers’ Union (ICU), which represents staff of Prudential Bank, has reportedly been called in to mediate the dispute. As of Wednesday afternoon, management and union representatives were said to be engaged in an emergency meeting aimed at resolving the crisis and restoring calm within the institution.

A senior ICU official, speaking off the record, confirmed that discussions were ongoing and urged both sides to exercise restraint. “We are aware of the grievances raised by the workers, and the union will ensure that management upholds principles of fairness and transparency in compensation matters,” the official stated.

The bank’s management has not yet issued an official public statement on the matter. However, insiders suggest that leadership is reviewing internal pay structures to address any disparities while maintaining financial sustainability.

The protest at Prudential Bank underscores a broader issue within Ghana’s financial sector — growing employee dissatisfaction over pay equity and career progression. The banking industry, once known for offering stable and competitive employment, has in recent years faced waves of restructuring, layoffs, and mergers following the Bank of Ghana’s financial sector clean-up between 2017 and 2019.

According to labour market analysts, many banks now operate with leaner staff and tighter budgets, which often results in uneven salary adjustments or frozen benefits for long-serving employees. This has led to rising frustration among mid-level and senior staff across several institutions.

In the context of Ghana’s current economic climate, marked by high inflation and rising cost of living, employee demands for fair compensation have become increasingly urgent. The Ghana Statistical Service reported inflation at 25.7% in September 2025, putting additional pressure on wages and household incomes.

Founded in 1996, Prudential Bank Ghana Limited is one of the country’s indigenous banks, providing retail, corporate, and SME banking services. The bank has earned a reputation for stability and local ownership in a sector dominated by multinational financial institutions.

However, the recent protest poses reputational and operational risks if left unresolved. Labour unrest in the banking industry can disrupt operations, erode customer confidence, and expose institutions to regulatory scrutiny. Analysts warn that such disputes, if not addressed transparently, could affect employee retention and public trust in the long term.

Human resource experts emphasize that fair compensation and open communication are critical for maintaining trust within organizations. Dr. Kwesi Amissah, a labour relations lecturer at the University of Professional Studies, Accra (UPSA), explained that selective pay adjustments, even if well-intentioned, can create perceptions of bias.

“Management must ensure that all employees understand the basis for salary reviews. When communication is unclear, it breeds suspicion and discontent, which can easily escalate into industrial action,” he noted.

He added that the ICU’s involvement provides a structured avenue for negotiation, helping to prevent long-term disruption or reputational damage to the bank.

The Prudential Bank situation mirrors challenges faced in other local banks where compensation disparities have sparked internal grievances. In 2024, a similar dispute at another mid-sized bank led to a week-long standoff before management and union leaders reached an agreement on revised pay scales.

Such incidents highlight the need for consistent HR reforms across the financial services sector. Industry observers have urged banks to adopt performance-based pay systems, regular salary audits, and stronger employee engagement frameworks to avoid future unrest.

As Prudential Bank’s management and the Industrial and Commercial Workers’ Union continue their closed-door discussions, employees are hopeful that the outcome will ensure fairness and restore unity within the institution. The situation also serves as a timely reminder that transparent human resource practices are key to sustaining confidence and productivity in Ghana’s banking sector.

Until an official resolution is reached, the protest reflects the delicate balance between cost management and employee welfare that many organizations must navigate amid economic uncertainty.

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