Industrial negotiations between the Management of Republic Bank EC Limited and the Leadership of the National Workers Union (NWU) along with Shop Stewards have been successfully concluded.

Clerical and technical employees throughout the company’s operations on island will receive a one-time Lump Sum Payment of one thousand dollars ($1000.00) in lieu of an increase in Year One. The employees will also receive 0.5% increase in salary in Years Two, Three and Four respectively. Improvements in Allowances for Acting are part of the new package.

Both sides are satisfied with the outcome and have agreed that the payment of the Lump Sum will be expedited shortly.