The Spanish Banking Association (AEB) and the unions CCOO, UGT, and FINE (71% of union representation at the Negotiating Table for the XXV Banking Collective Agreement) have agreed on an 11% salary increase over three years, to be applied retroactively from January 1, 2024.
The salary increase applicable this year will be 4.25%, 4.0% in 2025, and 2.75% in 2026. On an exceptional basis and in consideration of the sectoral environment in which this agreement is reached, the possibility of inflation deviation from the agreed amount will be taken into account up to a limit of 2.0%.
An additional “guaranteed minimum amount” clause has also been agreed on an exceptional basis, which will ensure that all bank employees will see their ordinary fixed remuneration improved.
AEB highlights the value of the agreement and considers that both parties have acted responsibly.
