The Banking Association (AB) confirmed a salary increase of 2.2% retroactive to January 2025, adjusted for December inflation. The agreement also includes an increase in the bonus for all workers in the banking sector. The union announced a salary increase that affects the entire wage scale of the sector, with a rise in the basic salary and in the additional for the Participation in Profits (ROE), which would bring salaries to a basic of around $1,700,000 per month.
In March, a new meeting will be held between the parties involved to discuss future salary updates, as well as to determine the continuation of the current automatic adjustment scheme. The agreement states that the inflation adjustment will be maintained for all union-affiliated banking workers, based on the Consumer Price Index (CPI) from the previous month.
The agreed increase will be applied to the salary bases of December 2024 and must be paid to banking workers along with the settlement for February. The minimum wage, which is currently $1,605,028, will be increased by $79,745 for Participation in Profits (ROE), thus reaching a final salary of $1,684,773.
Additionally, it was established that the bonus for Banking Day will be $1,430,827 from the new update, and this additional payment will be made in the November payroll. The Banking Association is committed to maintaining the purchasing power of its members, ensuring that salaries have not lost value against the rise in prices during this salary negotiation process.
