Bank of Valletta has signed the new collective agreement with the General Workers’ Union, covering its working relationship with the support employees for period FY2022 to FY2024. The agreement was signed at the House of the Four Winds in Valletta.
This follows the signing of a similar agreement for BOV employees in managerial and clerical roles last March.
The bank was represented by its CEO Kenneth Farrugia, Ray Debattista, who heads People & Change, and Lawrence Schembri, also from People & Change. GWU was represented by the secretary for the Professionals, Finance and Services Section, Riccarda Darmanin, assistant secretary, Paul Micallef and Karen Abela, as well as Alan Frendo, employees’ representative. The bank’s chairman, Gordon Cordina, was present at the signing of the agreement.
Farrugia said that this agreement is an important milestone for the bank.
“At Bank of Valletta, we recognise the important role that our people play across the organisation and the extent to which they are the cornerstone of the service we give to our customers.”
He went on to say that this collective agreement was the result of extensive negotiations on the part of both the bank and GWU representatives, with both parties focused on ensuring that the best interest of the employees are safeguarded and enhanced, while concurrently reflecting the exigencies of the bank.
“In recognition of the commitment and contribution of our valued employees, we have this year launched a Voluntary Occupational Pension Scheme which is available to all employees who have been with the bank for a minimum of one year. We have also enhanced several employee benefits including improvements in the credit financing conditions and the introduction of study grants aimed at strengthening the skills of our employees to the benefit of our customers.”
Corroborating the CEO’s comments, Debattista said that through its People & Change function, the bank maintains an open dialogue with its employees and their representatives.
“From our end, we want to ensure the wellbeing of our employees. Furthermore, in this agreement, we have ensured that the same benefits we offered to our managerial and clerical employees, are extended to our support employees that are equally important to our organisation. In this manner, we are ensuring that there are equal opportunities for all our employees, irrespective of their category or position within the bank. Through this agreement and additional initiatives that will be launched going forward, the bank positions itself as the employer of choice.” He concluded by saying that the agreement will further consolidate the “excellent relationship” between the bank and the GWU.
Darmanin thanked the bank’s representatives for their cooperation over the past months and expressed her satisfaction with the outcome for the BOV support employees.
“This collective agreement reflects today's realities. GWU takes care that the workers’ financial aspect reflects the work they do and the difficulties they encounter daily due to the various duties and responsibilities they have.”
She highlighted that as a representative of this sector of employees, GWU keeps open communication lines with both the bank and its members.