End to trade dispute

The strike action commenced on 29 June 2023 relative to a trade dispute between the Bank and the Union for a New Collective Agreement.

On Friday, 21 July 2023 at about 6:30 pm both parties signed a Memorandum of Understanding (MoU) bringing to an end the negotiation process and cessation of strike action on the same day. Workers returned to work on Monday, 24 July 2023.

Seventeen (17) articles were settled including 13 from bilateral negotiations which the company had resisted honouring and the remainder, which was referred to at mediation.

Workers will benefit for this negotiated period as follows:

Increases in meal allowances
Increases for travelling
Increases to on-call allowance
Improvement in acting allowance
Compassionate leave
Severance and terminal benefit quantum
Paternity leave quantum
Salary increases of 10.25% over a 4-year period. These have been the highest increases in several years
Payment of docked salaries


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