SAN FRANCISCO, Feb. 8, 2018 /PRNewswire/ -- Today Bank of the West announced it will increase the company's minimum wage across the business to $15 per hour. The change will impact one-quarter of hourly team members, primarily in the Bank's branches and call centers.
The permanent increase will take effect on April 1 and is part of our long-standing commitment to reward our team members and attract the industry's best talent. At more than double the federal minimum wage, the Bank's new minimum wage is the result of a thorough internal review of the Bank's business stemming from the federal tax reform recently completed by the U.S. Congress.
"We have amazing people at Bank of the West. I am excited this minimum wage increase reaffirms our commitment to attract and retain the best people," said Nandita Bakhshi, CEO of Bank of the West.
About Bank of the West Bank of the West is a financial services company headquartered in San Francisco with $89.8 billion in assets as of September 30, 2017. Founded in 1874, Bank of the West provides a wide range of personal, commercial, wealth management and international banking services through more than 600 branches and offices in 23 states and digital channels. Bank of the West is a subsidiary of BNP Paribas, a leading bank in Europe, which has a presence in 74 countries with more than 192,000 employees. To learn more about Bank of the West, visit About Us via BankoftheWest.com.
Deposit and loan products offered by Bank of the West, Member FDIC and Equal Housing Lender. In South Dakota, Bank of the West operates under the name Bank of the West California. Bank of the West Wealth Management offers products and services through Bank of the West and its various affiliates and subsidiaries.