Sri Lankan public banks unions secure hard-won agreement for 20,000 bank workers

UNI Global Union’s oldest and largest affiliate in Sri Lanka, the Ceylon Bank Employees Union (CBEU) signed a series of collective agreements on 16 July with the management teams of four state owned banks, improving conditions for over 20,000 bank workers struggling with the high cost of living.

The negotiations over the terms of the deals, which cover the years 2024 to 2026, were completed nine months ago, but before the banks’ respective managements could sign the deals, the agreements hit an unexpected obstacle – getting the necessary permission from the Ministry of Finance and Treasury officials. The officials hesitated to green light the agreements, citing economic difficulties and the need to adhere to IMF conditions on reduced public spending.

This roadblock raised the risks of eroding the CBEU’s hard-won improvements.

Consequently, the union consolidated the support from branch union members from the Bank of Ceylon, People’s Bank, the National Savings Bank, and the State Mortgage and Investment Bank, and embarked on a months-long campaign expressing their discontent with the blocked deal. 

The mobilization worked, and now workers are celebrating their win.

CBEU President, Channa Dissanayake, said, “Our victory lies in the cohesive union membership of our bank employees. It was with their support, understanding, and commitment that we can send a strong and collective message to the management and the government of our determination to conclude the agreements without sacrificing the interests of our members.”

UNI Asia & Pacific Regional Secretary Rajendra Acharya applauded the union, saying, “Congratulations to our affiliate CBEU for successfully defending the collective agreement rights of the state banks. You have demonstrated the importance of free and independent unions standing united and speaking in one voice for your members. Your solidarity with each other is an inspiration for workers around the region.”

Edit note 05 Aug 2024: Article originally stated 10,000 workers which has been corrected to over 20,000 workers as informed by the union.