The signing of a new Collective Collective Bargaining Agreement for employees at Piraeus Bank was announced by relevant organizations.

This agreement establishes minimum wage of 1,700.00 euros for all, as well as actual wage wage increases of up to 305 euros over the three-year period 2027–2029, and immediate benefits worth 660 euros.

The Minister of Labor, Niki Kerameos, emphasizing that “the labor market is changing following the National Social Agreement. Many new collective bargaining agreements with higher wages and better working conditions for hundreds of thousands of workers.”

Among other things, the organizations describe the new agreement as historic, citing economic and institutional breakthroughs that far exceed any other agreement signed over the past fifteen years. 

The full announcement:

With a sense of responsibility and satisfaction, the

– “Piraeus Bank Employees’ Association” (S.E.T.P.),

– “Agricultural Bank–Piraeus Bank Employees’ Association” (S.E.T.A.P.),

– “United Association of Piraeus Bank Employees” (E.S.E.T.P.) and

– “Association of Employees of Piraeus Bank (formerly ETVA)” (SYTP-ETBA)

announce the signing of a truly historic Company Collective Bargaining Agreement for employees of Piraeus Bank. Following negotiations that lasted more than two months, our unions have signed the new Collective Bargaining Agreement, which brings about groundbreaking changes at both the economic and institutional levels, far surpassing any other agreement signed over the past fifteen years. 

The new collective bargaining agreement effectively secures benefits for all staff, setting a new standard for the entire private sector in our country. 

Specifically, we achieved:

Establishment of a minimum wage of €1,700.00 for all employees at Piraeus Bank.

Real wage increases of up to €305.00 for everyone over the three-year period 2027–2029, to be paid in installments at the beginning of each year.

Immediate benefits worth 660.00 to all employees for 2026.

Introduction of new, additional job-related allowances of up to 80.00 €.

Substantial increase in family and other social benefits (increased benefits for families with three or more children, measures to address low birth rates). 

Significant Regulation Regarding Artificial Intelligence

The Bank’s Management, recognizing the financial reality faced by employees, has finally accepted all of our Unions’ arguments and co-signed the new Collective Bargaining Agreement, which changes the economic landscape at the Bank, in the sector, and beyond.

We have signed an agreement that offers prospects for the future and improves the lives of employees!

Detailed Presentation of the Key Points of the New Company Collective Bargaining Agreement at Piraeus Bank

Establishment of a minimum wage of €1,700.00 for all employees at Piraeus Bank, effective February 1, 2027.

A real total increase in the company allowance of €255.00 for all employees over the three-year period 2027–2029, not to be offset against future increases or voluntary benefits:

  • +€110.00 as of January 1, 2027, bringing the total to €160.00.
  • +60.00 € starting January 1, 2028, bringing the total to 220.00 €.
  • +85.00 € as of 1/1/2029, bringing the total to 305.00 €.

Establishment of new, additional operational responsibility allowances of 70.00 € and 80.00 € for roles with responsibility, both in the branch network and at headquarters, as follows: 

Branches

€80.00 for employees in the role of branch manager

€70.00 for employees in the roles of UBO, PBO, SBO

Headquarters

€80.00 for employees in the role of senior manager

€70.00 for employees in the role of manager

Direct benefits for all employees in 2026

  • €250.00 prepaid Sklavenitis card, effective July 1, 2026, for all employees up to the senior manager level and 100.00 € for employees at the director level. 
  • A one-time contribution of 210.00 € to the Professional Insurance Fund, effective September 1, 2026, for all employees with earnings up to 5,000.00 €.
  • Piraeus Bank shares, valued at 200.00 €, to each employee with a level of responsibility below that of a director, effective November 1, 2026.

Substantial Increase in Family and Other Social Benefits

  • Allowance for families with three or more children: An increase of €50, effective September 1, 2026 – set at 150 € per child, until the completion of their studies and until the age of 25.
  • Widow’s/Widower’s Allowance: Increase of 30 €, effective July 1, 2027 – set at 100 €.
  • Lump-sum grant for the birth of a third child or more: Increase of 3,000 € – now amounts to 5,000 €.

Provision on Artificial Intelligence

Codification of the Special Collective Bargaining Agreement on Telework