BOV sings three-year collective agreement with GWU

Parties sign the three-year collective agreement. (source BOV media)

Bank of Valletta (BOV) and the General Workers Union (GWU) signed a three-year collective agreement for the period 2019-2021, according to a press statement by BOV. The agreement aims to improve remuneration packages of employees and support family-friendly measures.

The agreement was signed by Mario Mallia, Chief Executive Officer of Bank of Valletta and Charles Galea, Secretary of the Professionals, Finance and Service Section within the GWU, in the presence of BOV Chairman Deo Scerri.

“This agreement builds upon the previous one, improving employees’ remuneration packages while acknowledging the commitment, loyalty and services of the bank’s dedicated workforce. More importantly, the agreement ameliorates current family-friendly measures that assist employees to reach a better work-life balance,” said Mr Mallia.

“The new collective agreement consolidates further the bank’s position as an employer of choice and our strong commitment to nurture and develop the right skills from within our current workforce, while at the same time attract the right people who would like to pursue a career within the financial services industry. The bank’s appreciation towards its employees will also be reflected through the introduction of a workplace pension scheme in the coming months,” the BOV CEO added.

“This agreement is the result of rigorous and professional discussions between the bank and the General Workers Union over the past months, with the union working closely with the bank’s management team to find innovative ways that provide flexible solutions for the bank and its employees,” said Mr Mallia.

“This new agreement is the outcome of two parties ready to listen to each other for their mutual benefit,” said Charles Galea of GWU.

“The union is proud to represent Bank of Valletta, one of Malta’s largest employers with a workforce exceeding 1,800. The agreement places special emphasis on the advancement of the bank’s employees while providing stability to the workforce over this three-year period. We are confident that this agreement will assist the bank’s strategy towards focused growth, while the improved conditions will result in better delivery of service to the bank’s esteemed clientele,” Mr Galea added.