MORE than 1,000 bank employees who are members of the Sarawak Bank Employees’ Union (SBEU) will have their salary increased by 9% under the new Collective Agreement (CA) that was signed between their union and the Sarawak Commercial Banks Association (SCBA) in Kuching yesterday.
The employees are in the categories of Sales & Service 1 (SS1), 2 (SS2), and 3 (SS3) and their new salary will be backdated to Jan 1.
Brian Jit Singh, alternate president of the Malayan Commercial Banks’ Association (MCBA), who witnessed the signing, said bank workers in the SS1, SS2, and SS3 grades are “at the core of our banking institutions”.
“Across various business units, these employees are the engine that keeps our institutions running smoothly, upholding the trust that our customers place in us every day.”
Singh added their expertise, dedication, and unwavering commitment are critical to the member banks' success and the overall stability of the nation’s financial system.
“These valued members of SBEU are at the forefront of managing risks and delivering exceptional customer service.
“In an increasingly digitised world, they serve as the lighthouses that will steer our institutions forward, ensuring that even as technology evolves, the human touch that builds trust and relationships remains central.”
In addition to the salary adjustment, the new CA – for the period 2024–2026 – will also see SS2 employees considered for promotion to SS3 “if they have the necessary experience, qualification and meet the performance standards of the bank”.
SS3 employees too may also be considered for promotion to positions of higher responsibilities if vacancies exist.
Singh said the promotion under the new CA was after it was agreed that all banks are to have a minimum of 20% SS3 graded employees by December 31 next year.
Another significant addition to the CA is the inclusion, from Jan 1 next year, of an annual Festive Aid payment of RM1,800 to provide financial support to employees celebrating their respective festivals.
The payment will be made a month prior to the festival.
He said the salary adjustment, combined with other benefits, was an acknowledgment of the hard work and dedication of these employees in supporting the banks' operations.
As a gesture of appreciation for the amicable and early settlement of this CA, Sarawak Commercial Bank Association (SCBA) has also agreed to grant a one-off ex-gratia payment of RM2,000 to all employees who are members of SBEU.
Singh said the signing of the CA represents much more than the conclusion of negotiations between two esteemed associations.
“It signifies the beginning of a new chapter in our partnership.”
Bank employees in the management, executive, confidential or security capacities are not affected by the new deal as they are not members of SBEU. - September 20, 2024
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