Bank of Valletta (BOV) and the General Workers Union (GWU) have signed a new collective agreement for the period 2025–2027. For the first time, this agreement brings together all BOV employees—both in core operations and support roles—under a single, unified framework. This landmark agreement marks a significant step forward in aligning the Bank’s people strategy with its long-term vision for growth, transformation, inclusivity, and well-being.

The agreement was signed at the BOV Centre in Santa Venera by BOV CEO Kenneth Farrugia, Chief People & Culture Officer Ray Debattista, Lawrence Schembri and Melco Mallia from BOV Quality and Governance, Riccarda Darmanin, Secretary of the GWU Professionals, Finance and Services Section, and members of the BOV Group Committee. BOV Chairman, Dr Gordon Cordina, was also present at the signing.

Commenting on this milestone, Kenneth Farrugia said, “This agreement reflects the Bank’s continued commitment to its people. By consolidating two separate agreements into one, we are simplifying how we operate and reinforcing the sense of unity across all roles within the organisation. We believe that this forward-looking approach not only strengthens our internal cohesion but also empowers us to better serve our customers and shareholders.”

This new agreement builds on a number of initiatives taken by the Bank in the recent past. Among others, this includes the launch of the Voluntary Occupational Pension Scheme (VOPS) in 2022.

Ray Debattista, Chief People & Culture Officer, remarked, “We are proud to have concluded this agreement, which places our people’s holistic well-being at the core of our strategy. It also reflects our strong collaboration with the General Workers Union. Our joint aim is to continue fostering a culture that thrives on excellence, whilst actively promoting the physical and mental well-being of our people.”

Riccarda Darmanin welcomed the agreement as a “strong signal of the Bank’s commitment to fairness and progress.” She continued, “The unified agreement gives all employees equal access to opportunities for growth and improved conditions, through the inclusion of meaningful family-friendly measures and well-being, regardless of their role. It builds on the solid foundation we have developed together in recent years, and we look forward to further strengthening this partnership in the years to come.”

This agreement is the result of open and constructive dialogue between the Bank and the Union, built on mutual respect and a shared goal to provide the best possible environment for employees to flourish.