The banking staff will receive this year their first payment for benefits regulated by agreement | Companies

José María Roldán, president of the AEB
José María Roldán, president of the AEB

Employees of the banking and savings sector will receive in the next payrolls and for the first time, a payment for benefits, after the good results obtained by the different financial entities in 2021. The agreements signed last year, although their validity corresponds to the period 2019 to 2023, they included as a novelty the regulation of teleworking, and that of variable remuneration if a series of conditions were met.

It is true that the payment for benefits, or as stated in the agreements, for compliance with the RAE (results from the exploitation activity), had already been regulated in the previous agreement, “but in the end a payment for this concept as there was no stipulated definition of what was counted as RAE (included in article 23 of the banking collective agreement), and in the end the banks clung to any loss in order not to pay it, until now. Since a definition of RAE was included in the current agreement, ”explain union sources. Despite this payment, the first time it is carried out, it only represents a quarter of payment, which can reach a maximum of six payments of a quarter each if the RAE rises more than 30%, something quite complicated.

Other variable payments can be added to this extraordinary payment, such as another quarter of pay according to the profitability or ROTE achieved by the entity, as long as it exceeds 8%, and if it exceeds 11%, another quarter of pay is added, always in agreement. to the ratios reported by financial institutions to the Bank of Spain. Also, during the past year, and for the first time in years, the profitability of Spanish banks in several cases exceeded 8%.

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But the banking workforce, as is the case in a large part of the sectors, did not have salary increases included in the agreement according to the CPI with which 2021 ended, and which rose to 6.5%, its highest level in almost 30 years.

Unions and employers (AEB and CECA) agreed to salary increases of 0.75% for 2021, 1% in 2023 for the 70,000 employees of the old savings banks and 1.25% for workers of banks associated with the AEB. What supposes a loss of purchasing power, since, according to union sources, these increases are not reviewable.

One of the first banks to bring together the components of its employment table was Banco Santander. In this act, held on Monday, the unions demanded improvements that have an impact on workers, once the results of the entity amounted to 8,124 million in 2021, the highest profit in the last 12 years, and after suffering losses of 8,771 million in 2020. In Spain, profits amounted to 957 million euros, with a growth of 88% in the year.

The bank’s employees have not only demanded direct improvements, but also “explicit support” from the bank’s management, “since we repeatedly suffer continuous harassment from public opinion, when workers strictly comply with orders from our superiors” explains UGT.

Santander, like the rest of the large Spanish banks, carried out major workforce adjustments and office closures in 2021, totaling more than 17,000 jobs, of which 3,572 corresponded to Santander Spain.

Judgment. The Court of First Instance No. 6 of Madrid has sentenced Banco Santander to return 450,000 euros to a married couple who bought shares of Banco Popular, considering that they are entitled to compensation for the faulty information given about the situation of the bank in the process of purchase, informs EP. The magistrate has not applied the criterion of the general counsel of the Court of Justice of the EU, who proposed in his letter of December 2, 2021 that those who bought Popular shares on the occasion of a capital increase with a public subscription offer could not request Santander compensation for the shares they bought before the resolution of the entity alleging that the prospectus of the issue contained inaccurate information.

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George Holan

George Holan is chief editor at Plainsmen Post and has articles published in many notable publications in the last decade.

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