Human capital is of crucial importance for the banking sector as it is a key driver of banks' efficiency. Unlike financial and material factors of production, human capital can be enhanced through education and has virtually unlimited growth potential. Investments in human capital can contribute to increased efficiency of the banking sector. Banks should therefore ensure that their employees' knowledge and skills are systematically developed. Employees are an asset in which one needs to invest by providing opportunities for further training. Attention to the needs of personnel, combined with proper management of the human resources function, can help banks to build competitive advantage and to achieve their objectives.
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