Banks and the Cyprus bank employees’ union ETYK have reached an agreement on a new collective labour agreement, which will now be presented to ETYK’s general assemblies on Tuesday.
According to information published by Kathimerini and confirmed by Politis through a senior banking executive, the two sides finalised the deal on Friday, settling the remaining details.
Under the core provisions of the agreement, all bank employees will receive a €1,500 bonus for 2024 results by 30 January 2026, another €1,500 for 2025 results by 30 June 2026, and a further €1,500 for 2026 results by 30 June 2027.
- In addition, from the start of the new year, employees will receive a €50 horizontal increase to their basic salary, with a further €50 increase from the beginning of the following year.
- Annual leave will also increase by six days.
- The agreement includes higher housing loan limits for bank employees across all categories, as well as the option to take unpaid leave for education or health reasons.
- From 1 January 2026, all banking staff will also join the Unified Health Scheme.
The agreement covers the years 2023 to 2027.