Agreement to raise the salaries of 90,000 bank employees by 4.5% in January

The Spanish Banking Association (AEB) has agreed with the UGT and CCOO unions on a salary increase of 4.

Thomas Osborne
Thomas Osborne
29 November 2022 Tuesday 13:40
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Agreement to raise the salaries of 90,000 bank employees by 4.5% in January

The Spanish Banking Association (AEB) has agreed with the UGT and CCOO unions on a salary increase of 4.5% in January as part of the negotiating committee for the sector's collective agreement. The measure will affect more than 90,000 bank employees throughout Spain.

This increase over the 2022 salary tables will occur instead of the 1.25% that was initially provided for in the agreement. Both parties consider the agreement reached satisfactory, since it meets the objective of helping to mitigate the effect of inflation on workers in the sector.

The AEB has highlighted "the value of the agreement" and considers that the negotiation has acted "with the responsibility required by the extraordinary socioeconomic circumstances" of the moment. "The decided salary increase is a recognition of the effort and personal commitment of the workers of the banking sector in this exceptional context", he affirms.

The unions assure that they have been summoned to evaluate new measures once the final CPI data for the year is known. The CCOO is the main union force in the banking sector, with 48%, compared to 23.38% for the UGT.

The agreed 4.5% increase will also be applied to all supplements and social benefits whose amounts are referenced to the percentage increases in the agreement tables as stipulated in each company

The unions say that "a historic agreement for the sector" has been reached, since an agreement valid until the end of 2023 has been opened and more than triple the agreed increase for 2023 has been achieved.