The bank’s employee unions announced the signing of a new three-year Collective Bargaining Agreement with Piraeus Bank management.
Among other provisions, the agreement sets a minimum wage of 1,700 euros for all employees.
Specifically, with a sense of responsibility and satisfaction, the
- “Piraeus Bank Employees’ Association” (S.E.T.P.),
- the “Agricultural Bank–Piraeus Bank Employees’ Association” (S.E.T.A.P.),
- the “United Association of Piraeus Bank Employees” (E.S.E.T.P.), and
- “Association of Employees of Piraeus Bank (formerly ETVA)” (SYTP-ETVA)
announce the signing of a truly historic Company Collective Bargaining Agreement for Piraeus Bank employees. Following negotiations that lasted more than two months, our unions signed the new Collective Bargaining Agreement, which represents a breakthrough on both the economic and institutional levels, far surpassing any other agreement signed over the past fifteen years.
The new collective bargaining agreement effectively secures benefits for all staff, setting a new standard for the entire private sector in our country.
Specifically, we have achieved:
- Establishment of a minimum wage of €1,700.00 for all employees.
- Real wage increases of up to €305.00 for everyone over the three-year period 2027–2029, to be paid in installments at the beginning of each year.
- Immediate benefits worth 660.00 to all employees for 2026.
- Introduction of new, additional job-related allowances of up to €80.00.
- Substantial reinforcement of family and other social benefits (increase in benefits for families with three or more children, measures to address the low birth rate).
- Significant regulation regarding Artificial Intelligence.
The Bank’s Management, recognizing the financial reality faced by employees, ultimately accepted all of the arguments put forward by our Unions and co-signed the new Collective Bargaining Agreement, which changes the financial landscape at the Bank, within the sector, and more broadly.
Detailed Presentation of the Key Points of the New Company Collective Bargaining Agreement
Establishment of a minimum wage of €1,700.00 for all employees, effective February 1, 2027.
A real total increase in the company allowance of €255.00 for all employees over the three-year period 2027–2029, not to be offset against future increases or voluntary benefits:
- +€110.00 as of January 1, 2027, bringing the total to €160.00.
- +€60.00 starting January 1, 2028, bringing the total to €220.00.
- +€85.00 as of January 1, 2029, bringing the total to €305.00.
Introduction of new, additional operational responsibility allowances in the amounts of 70.00 € and 80.00 € for positions of responsibility, both in the branch network and at headquarters, as follows:
€80.00 for employees in the role of branch manager
€70.00 for employees in UBO, PBO, and SBO roles
€80.00 for employees in the role of senior manager
€70.00 for employees in the role of manager
Immediate benefits for all employees in 2026
- Prepaid Sklavenitis Card worth 250.00 €, effective July 1, 2026, for all employees up to the senior manager level, and 100.00 € for employees at the director level.
- A one-time contribution of €210.00 to the Occupational Insurance Fund, effective September 1, 2026, for all employees with earnings up to €5,000.00.
- Piraeus Bank shares valued at 200.00 € for each employee with a position below the level of director, effective November 1, 2026.
Substantial Increase in Family and Other Social Benefits
- Allowance for families with three or more children: An increase of €50, effective September 1, 2026—set at €150 per child, until the child completes their studies or reaches the age of 25.
- Widow’s/Widower’s Allowance: Increase of 30 €, effective July 1, 2027 – set at 100 €.
- Lump-sum grant for the birth of a third child or more: An increase of 3,000 €—now totaling 5,000 €.
Provision on Artificial Intelligence
Codification of the Special Collective Bargaining Agreement on Telework