The Malta Union of Bank Employees (MUBE) and HSBC are moving to a vote to be taken by members whether to accept the proposals which have been made by the bank on Thursday 4 February. A meeting between the bank and the union on 1 February attempted to solve issues relating to breaches of the collective agreement for 2014 - 2016 claimed by MUBE.

The 'points of contention' discussed during the meeting included Retirement schemes issues by HSBC without consultation of approval by MUBE; bonuses not being paid upon termination of employment; a Social Media Policy which was 'unilaterally introduced by the bank' without agreement; as well as pay increases to selected individuals without consulting the Union.

The bank issued their final position with the CEO citing bad performance as the main reason why Collective Agreement negotiations are at an impasse. Benefits introduced by the bank include a pension pot of a further €200,000 accrual; an increase in salary range minimums by 2.5% for the next 3 years; IT car allowances as from 1 April 2016; and additional salary increases adding 0.5% to the pay pot for a 5% increase for a year on year increase in adjusted operating income.