Bank of Valletta has signed a new collective agreement with the General Workers Union, the bank said yesterday.

The agreement, which is the first of its kind, covers the bank’s clerical and managerial staff and will run for five years. It was signed by BOV chief operations officer Mario Mallia and GWU secretary of the professionals, finance and services section Charles Galea.

While admitting that the negotiations leading to the signing were tough, the statement said they were “carried out in an atmosphere of mutual respect and a desire to continue improving the working conditions of BOV employees”.

The agreement did away with grades and included a number of family-friendly measures. It is an auspicious start to a future of cooperation between BOV and the GWU, Mr Mallia said.

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