Republic Bank: Revised offer for settlement

This Offer, when compounded with the Bank’s pay for performance merit arrangements takes the pay-out to members of the bargaining unit on average to 16.23%, well over the 12.25% that the Minister had tabled.

The Bank continues to negotiate with the Union to find a resolution that is fair to all parties and has in good faith, revisited its 6.25% offer twice since the commencement of strike action by some members of staff on 29 June 2023. Based on current market data, the initial offer was aligned to comparative salary increases in the financial services sector for the corresponding period.


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