Up to 13% pay rise, enhanced benefits for staff of 2 Sarawak banks

 

Staff at AmBank (M) Bhd and HSBC Bank Malaysia Bhd in Sarawak will enjoy salary increases of between 9% and 13%, additional incentives and improved benefits under their new collective agreements.

PETALING JAYA: 

The Sarawak Bank Employees’ Union has signed new collective agreements with two banks – AmBank (M) Bhd and HSBC Bank Malaysia Bhd.

Its CEO, Andrew Lo, said AmBank employees under the sales and services grade in Sarawak will benefit from a 9% to 13% salary increase as part of the new CA covering Jan 1, 2024 to Dec 31, 2026, Bernama reported.

“The CA includes new benefits of empowerment incentive of RM2,000 and festival aid of RM1,800, and other benefits and allowances currently enjoyed by SBEU members which are enhanced (by an average of) 10% to 30%.

“Childcare and disability subsidies and medical benefits will see a rise of up to 38%. Maternity leave is now 98 days,” Lo said in a statement.

He said a similar CA was signed with HSBC on Dec 10, covering the period from July 1, 2022 to June 30, 2025.

It includes a 10% to 12% salary adjustment for customer service staff, empowerment incentives, festival aid, and improved benefits.

“The maximum salary is now up to RM9,246. With other allowances and bonuses, SBEU members’ monthly income can easily exceed RM10,000,” he said. - FMT