26 October 2005

The Web
Business Today

Bank of Valletta and GWU sign collective agreement

Bank of Valletta signed a collective agreement with GWU for its employees in the non-clerical grades. The agreement reached between the bank and the union stipulates the terms and conditions of employment up to the end of 2007.
The agreement was signed by Tonio Depasquale, Chief Executive Officer, Igino Xuereb Chief Officer Operations, Paul Spiteri Executive Head HR as well as Noel Scerri Head HR and Charles Grech Soler Head HR Issues on behalf of BOV.
On the part of the Media and Services section for the GWU, the agreement was signed by Karmenu Vella, Section Secretary, Ray Pace President GWU Group Committee and Charles Abela, Shop Steward – Non Clericals.
Tonio Depasquale said that the Agreement includes a good financial package with salary increases over a period of 3 years. The CEO expressed his satisfaction with the new Agreement that he said would indirectly benefit the organisation as a whole.
“Stable relations between the Bank and the Unions are essential to enable us support our customers’ success and to build shareholder value through sustained growth and enhanced profitability,” said Depasquale.
Karmenu Vella expressed the union’s satisfaction at the successful conclusion of negotiations between the two parties. He said that the collective agreement was based on mutual understanding between the two sides and was beneficial for the non-clerical employees whilst providing the necessary framework to support the continued success of the bank.

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