KUALA LUMPUR – The National Union of Bank Employees (NUBE) and HSBC today signed a Collective Agreement (CA) involving the bank’s customer service bankers (CSB), after three years of protracted and, at times, acrimonious negotiations.
The CA is effective from 1-7- 2016 until 30-6-2019, meaning all salary and other related adjustments will be backdated accordingly as agreed by the two parties.
With the CA, about 200 HSBC’s CSB will receive backdated emoluments between RM15,000 and RM36,000 and a 10 per cent salary hike as well as RM600 monthly Cost of Living Allowance (COLA).
NUBE wishes to record its deepest gratitude to the Economic Adviser to the Prime Minister Dr Muhammed Abdul Khalid for his guidance in ensuring negotiations between NUBE and HSBC were successfully concluded.
His presence here today to officiate the signing of this Collective Agreement is very much appreciated.
A key stumbling block to the negotiations had been HSBC’s refusal to give any annual increments to CSB who reached the maximum pay scale.
This has been resolved by HSBC’s agreement to give two additional salary increments to the affected CSB.
Other benefits in the new CA include:
1. A 12 per cent hike to RM2,754 as the new minimum monthly salary for CSB and a 16 per cent increase in maximum pay to RM5,842.00.
2. Salaries of all CSB will be increased by 10 per cent and backdated from 1-7-2016.
3. Introduction of an RM600 monthly Cost of Living Allowance (COLA) and backdated to
4. From 1 April this year, CSB will enjoy zero interest rate for the first RM100,000 of all their staff loans.
5. Muslim CSB with 10 years of service will enjoy 30 days paid leave to perform Haj, provided they have not taken similar leave previously under other HSBC schemes.
6. Paternity Leave will be increased from 3 days to 5 days.
NUBE President Tan Eng Hong and General Secretary J. Solomon signed the CA while HSBC’s signatories were its Head of Human Resources Norlida Azmi dan Industrial Relations Head Alan Sunil Netto.
Apart from Dr Muhammed Abdul Khalid, the signing of the CA was also witnessed by HSBC Chief Executive Officer Stuart Milne and Mohamed Razik Shah who is Secretary General of Asian Regional Organisation of Banks, Insurance and Finance Unions.
General Secretary NUBE