APS Bank staff secure new collective agreement

After extensive negotiations, APS Bank and the Malta Union of Bank Employees (MUBE) have concluded a new Collective Agreement for the period 2020 – 2022.

The new agreement includes an important new benefit in the form of an Occupational Pension Scheme for all employees.

This is in line with the Bank’s commitment to offer its staff the most contemporary and relevant benefits, placing it at the forefront as an Employer of Choice.

It also provides a number of improvements and benefits for APS Bank staff members, including higher salary bands and increases, a new and enhanced profit-sharing scheme that better rewards and incentivises achievement, and continues to provide home loan schemes, generous study grants as well as family-friendly and wellbeing measures.

APS Bank Chief People Officer Raymond Bonnici thanked MUBE and both negotiating teams for the collaboration shown throughout the months of negotiations.

Speaking at the formal signing ceremony held on Thursday 10th December 2020 at the APS Bank Head Office in Swatar, Mr Bonnici said that the new Agreement marks another step forward which seeks to align the Bank’s ambitions for growth with the need to attract and retain the best talent.

“This year was a year like no other and by continuing to offer our staff the best employment conditions, investing in and rewarding them, we are confirming our commitment to our most valuable resource”, he added.

Mr Portelli noted that this was the eighth agreement MUBE successfully concluded with the Bank and congratulated it on its strong work ethic and performance throughout the past years. Mr Portelli said

“This Agreement consolidates what has been negotiated in the past by MUBE and is a clear application of APS Bank’s value of employee development as the Bank reaffirms its status as an employer of choice.

“Negotiations were cordial, conducted professionally and smoothly whilst both APS Bank and MUBE have committed themselves to continue building on what has already been achieved to the benefit of all stakeholders concerned”.