OTOE: New Collective Labor Agreement 2025-2027 for Bank Employees

After several days of difficult negotiations, the new Sectoral Collective Labor Agreement OTOE – 2025 – 2027 was signed yesterday, April 2, 2025, according to an announcement from the Federation of Greek Bank Employees’ Unions (OTOE). Specifically, OTOE highlights that after twelve years since the last payment of the ‘balance bonus,’ they have managed to cover all employees in the sector by establishing a new collective compensation equal to half an additional monthly salary per year, based on sectoral wages. This results in a further increase in the incomes of bank employees, with cumulative increases exceeding 8% over basic wage scales from July 1, 2025, to December 1, 2027. The new Sectoral Collective Labor Agreement emphasizes the importance of free collective bargaining between social partners in every sector and business, ensuring job security, improved child benefits, reduced interest rates on housing loans, and introduces provisions regarding artificial intelligence. It also includes enhancements such as increased maternity allowances, better support for single-parent families, and improved research and cultural activities funding.