Bank Employees to Enjoy Salary Increase of 7.75% Over Three Years
In a significant development for the financial sector in Greenland, approximately 230 bank employees from the Bank of Greenland and Bankivik will see their salaries rise by 7.75 percent over the next three years. This increase comes as a result of a new collective agreement forged between the Norwegian Finance Association and Greenland’s Business.
A Milestone Agreement
The agreement, which emerged after several days of intensive negotiations, was finalized on February 23 and is set to take effect on April 1 of this year. It will remain in force for a three-year period.
Marianne Kjær, the chief negotiator at the Finance Association, expressed optimism about the newly established terms. “We have reached a good agreement for the employees for the next three years. While navigating the unique challenges in Greenland, we managed to arrive at a reasonable outcome that we hope our members will appreciate,” she stated in a press release.
Fostering Stability
Christian Keldsen, director of Greenland’s Business, emphasized the importance of this agreement in cultivating stability within the financial sector. “I am pleased that we have an accord that both parties can be content with. This is crucial not just for those directly involved but for the entire Greenlandic business community and society at large,” Keldsen remarked.
As a next step, the agreement will be presented to union members for approval, with voting expected to take place in the coming weeks.