Commercial Bank signs new Collective Agreements with Ceylon Bank Employees Union

Signing of the agreements at the Commercial Bank Head Office in Colombo

The Commercial Bank of Ceylon PLC recently signed two three-year Collective Agreements with the Ceylon Bank Employees’ Union (CBEU) in furtherance of the bank’s commitment to uphold the principle of effective recognition of employee organisations and their right to collective bargaining.

These new agreements are revisions of the 2015 Agreements which lapsed on 31 December 2017, and will be in force till 31 December 2020, the bank said. They cover non-executive staff and the Junior Executive Assistants and Allied Grades of the bank. A Memorandum of Understanding covering the Junior Executive Officers of the bank was also signed along with the Collective Agreements on 16 January 2018.

Commenting on the signing of these agreements, Commercial Bank Deputy General Manager Human Resource Management Isuru Tillakwardana said: “The arrival at a mutual understanding on matters that are important to both parties, as major partners of the industry, is significant and mutually beneficial. Much intense discussion, debate and brain-storming went into negotiations during the process which was supported by the Employers’ Federation of Ceylon. These agreements provide for clear understanding and a basic plan for enhancing productivity for the benefit of the organisation coupled with rewards to the employees. They form a framework that is focused towards achieving sustainable growth while protecting all stakeholder interests.”

Commercial Bank has signed agreements of this nature on time with the CBEU for the last 17 years, creating a proud tradition and an example for productive partnership in the industry, he added.

Commercial Bank Managing Director/Chief Executive Officer Jegan Durairatnam and Chief Operating Officer/Executive Director S. Renganathan signed the agreements on behalf of the bank. T.G.W. Gunawardana – President and S.M.A.R. Senanayake – Secretary General of the CBEU signed on behalf of the CBEU. Kanishka Weerasinghe – Director General of the Employers’ Federation of Ceylon, Isuru Tillakawardana – Deputy General Manager Human Resource Management of Commercial Bank, K.A.S.A. Nandula – President of CBEU (Commercial Bank Branch Union) and Samantha Ratnayake – Secretary of CBEU (Commercial Bank Branch Union), witnessed the Agreements. Vajira Ellepola – Deputy Director General of Employers’ Federation, Kushan Wijayapala – Treasurer of Ceylon Bank Employees’ Union and Dinuka Perera – Vice President of Ceylon Bank Employees’ Union were also present at the occasion.