Union Network International – Malaysia Labour Centre president Shafie BP Mammal said the agreement benefits approximately 1,100 employees in sales and service, grades SS1, SS2, and SS3, working in 14 commercial banks.

“The agreement also introduces an annual festive allowance of RM1,800 for the employees’ respective festivals,” he said in a statement today.

Shafie said the banks have agreed to provide a one-time ex-gratia payment of RM2,000 to employees in appreciation of the union’s cooperation and support in implementing transformation initiatives and job empowerment responsibilities.

The agreement also includes an increase in childcare subsidies and disability benefits by up to 33%, along with medical benefits.

Meanwhile, SCBA president Maureen Paril said more positions in the highest salary category, specifically for SS3 employees will be created to acknowledge the enhancement and empowerment of their roles.

“All member banks are also committed to ensuring that at least 20% of their clerical workforce attain the SS3 grade by Dec 31, 2025.

“We appreciate the role of SBEU members and recognise their desire for ongoing career development opportunities,” she said.