HSBC Bank Malta p.l.c. and the Malta Union of Bank Employees (MUBE) have signed a new collective agreement until 2026, described in a statement as “ground-breaking”.
The bank said that through the new agreement, the bank was signalling its strong commitment to its people as a cornerstone of customer service excellence and its goal to innovate and improve.
The “ambitious” agreement is characterised by significant enhancements to employee pay, benefits and retirement pension plans.
The agreement was signed this week in Malta, and then validated at HSBC Continental Europe’s HQ in Paris by its CEO, Andrew Wild, and the CEO of HSBC Bank Malta. HSBC Continental Europe is the majority shareholder of HSBC Bank Malta.
The collaborative and professional negotiation process between HSBC Bank Malta and MUBE underscores a shared commitment to the bank’s strategy that focuses on fostering an environment of excellence in customer service and supporting the growth and development of every employee, the bank said in a statement on Friday.
Geoffrey Fichte, CEO of HSBC Bank Malta said: “I am pleased to confirm the signing of this new collective agreement with MUBE, reflecting our commitment to our people as they are our key competitive advantage.
"This agreement is a key part of our transformation journey, laying the foundation for innovation, transformation, customer service excellence and business growth. I am personally very motivated by the bright future ahead and look forward to working together with our colleagues to achieve success not only for them personally, but also for our stakeholders.”
MUBE President William Portelli added: “The Collective Agreement signed between MUBE and HSBC Bank Malta will take collaboration to another level whilst enhancing daily practice at the workplace as the business progresses with the digital transformation process.”
Portelli said the agreement enhances efficiency, flexibility and a feel-good factor around the working environment to the benefit of the employees’ wellbeing and customers alike.
HSBC Bank Malta said it was committed to its role as a leading financial institution in Malta, continually striving for innovation and excellence in all facets of its operations.
Last December, HSBC UK announced its plans to close its global call centre in Swatar by June, with a loss of around 200 jobs.
The bank informed workers that it intended to close the centre as part of a wider restructuring exercise to streamline its operations.
The workers of HSBC Global Services (UK) Limited Malta Branch (HSMB), locally known as HSBC Swatar Contact Centre, were informed of the company’s decision during a specially convened meeting.
HSMB is a separate legal entity from HSBC Bank Malta plc so the bank's operations in Malta will not be affected by the decision.
It serves HSBC UK Bank plc exclusively and primarily provides customer service and customer due diligence to UK customers.