The Spanish Banking Association (AEB) and the unions CC.OO., UGT and FINE have signed this Tuesday, in the Negotiating Commission, an agreement on the XXV collective agreement of the sector that includes a salary increase of between 11.4% and 13.4% in three years, as reported by the employers in a statement.
The minimum salary increase in tables will be 11% (11.40% in accumulated terms) and will be distributed as 4.25% in 2024, 4% in 2025 and 2.75% in 2026. This increase up to 2% would be added for the period if the CPI exceeds the expected increase, as published by FINE in a statement and reported by Servimedia.
When the agreement is published in the Official State Gazette (BOE), will be applied retroactively from January 1, 2024 the salary increase of 4.25% for this year and the arrears will be paid.
This agreement includes the real guarantee of 65% for the entire period (70% being the non-absorbable or compensable part in 2024 and 2025 and 50% in 2026), a revaluation of all salary concepts – including three-year seniority (the amount of which will rise in 2024 to 480 euros, in 2025 to 490 euros and in 2026 to 500 euros) – and technical 6.15% and one more day of free disposal for each year.
Both parties -CC.OO., UGT and FINE represent 71.21% of the union representation- consider the agreement reached satisfactorywhich affects 70,000 workers, to the extent that it meets the objective of mitigating the effect of past inflation, in a singularly exceptional situation, according to AEB.
For FINE, it is a “historic” agreement: “It reflects such an important demand of our staff as the limitation of the absorption and compensation clause that has caused so many imbalances in recent years.”
Precisely, the non-inclusion of a guarantee of real salary increase was the reason why the November 2022 agreement was not signed, since most of the staff saw the increase absorbed and compensated.
The agreement was closed in July after the unions asked in June of last year to open it early due to the rise in inflation and, after a string of meetings with parallel mobilizations, The pre-agreement was reached four months later that there was one in the savings and rural agreements.
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