Bank of Valletta signed a collective agreement with GWU for its employees in the non-clerical grades. The agreement reached between the Bank and the Union stipulates the terms and conditions of employment up to the end of 2010.

The agreement was signed by Tonio Depasquale, Chief Executive Officer, Igino Xuereb Chief Officer Operations, Noel Scerri Executive Head HR as well as Noel Vassallo head HR on behalf of BOV.

On the part of the Professional, Finance and Services section for the GWU, the agreement was signed by Cory Greenland, section Secretary, Charles Galea and Paul Micallef of the GWU Group Committee and Joe Mifsud, Shop Steward – Non Clericals.

Tonio Depasquale said that the Agreement includes a good financial package with salary increases over a period of 3 years. The CEO expressed his satisfaction with the new Agreement that he said would indirectly benefit the organisation as a whole.

“Stable relations between the Bank and the Unions are essential to enable us support our customers’ success and to build shareholder value through sustained growth and enhanced profitability,” said Mr Depasquale.

Cory Greenland expressed the Union’s satisfaction at the successful conclusion of negotiations between the two parties. He said that the collective agreement was based on mutual understanding between the two sides and was beneficial for the non-clerical employees whilst providing the necessary framework to support the continued success of the Bank.