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Banco Popular signs collective bargaining agreement with union

Colombia-based Banco Popular SA has signed a collective bargaining agreement with union organization UNEB that will govern the relations between the bank and its employees from Jan. 1, 2018 to Dec. 31, 2020, the bank said in a Nov. 28 filing.

According to the agreement, the bank will have a 7% salary increase in the first year, followed by increases pegged at the consumer price index over the next two years, UNEB said in a statement on its website.

The bank will also provide transportation assistance and education subsidies, among other benefits, to its employees.