The National Workers Union (NWU) and the management of Republic Bank EC Limited have successfully concluded a series of conciliatory industrial relations sessions, facilitated by the Labour Commissioner.
The outcome is a mutually satisfactory agreement that benefits approximately 140 clerical, IT, and technical employees across the bank’s geographical operations.
Under the new agreement, employees will receive a 9.5% general wage increase over three years, allocated as follows: 3% in the first year, 3% in the second year, and 3.5% in the third year.
Additionally, employees will be awarded over a year’s worth of back pay. The industrial accord also introduces several enhancements, including a Breakfast Allowance of $30.00, an increase in vehicle allowances, and a uniform allowance of $1400.00 for male employees and probationers.
Furthermore, Business Banking officers have now been designated as Travelling Officers.
All parties involved have made arrangements for the new industrial accord signed on Tuesday, 31 March 2026, in the presence of officials from the Department of Labour.