On Tuesday, November 30, the General Workers’ Union signed a new collective bargaining agreement with the Bank of Valletta that governs labour relations for BOV support staff for the years 2022-2024. This follows the signing of a similar agreement last March covering the bank’s employees in managerial and clerical categories. The agreement was signed at the House of the Four Winds in Valletta.
The Secretary of the Department of Professionals, Finance and Services, Ms. Riccarda Darmanin, thanked the representatives of the Bank for their cooperation in recent months and expressed her satisfaction with what has been achieved for the support staff.
“This collective agreement reflects today’s realities. GWU makes sure that the financial aspect of the staff reflects their work and the difficulties they face every day in their various roles and responsibilities.” She stressed that GWU, as the representative of workers in the sector, maintains open and continuous communication with the bank and its members.
Kenneth Farrugia, Chief Executive of Bank of Valletta, said that this agreement is an important milestone for the bank.
“At Bank of Valletta, we recognize the importance of our employees and the function they play within the organization. This is because they reflect the level of service we provide to our customers.”
In recognition of the commitment and contribution of employees, the Bank this year introduced a Voluntary Occupational Pension Scheme, which is open to all employees who have been with the Bank for at least one year. Many employee benefits were also strengthened, including an improvement in credit terms and the introduction of financial subsidies to enable employees to further improve their skills and thus enable customers to enjoy a higher level of service.
GWU was represented by Riccarda Darmanin, Secretary of the Professional, Financial and Services Section, by Deputy Secretaries Paul Micallef and Karen Abela, and by Alan Frendo as employee representative.
The Bank was represented by Kenneth Farrugia, Chairman of the Board, Ray Debattista, who heads the People & Change Section, and Lawrence Schembri from the same section. The Chairman of the Bank of Valletta, Dr. Gordon Cordina, was present at the signing of the agreement.