If you are currently working at a bank or know of someone who’s a bank officer, there’s some good news to look forward to.
This is because starting Jan 1 of 2024, bank officers all across Peninsular Malaysia will see a substantial increase in their existing salary along with several other benefits.
Bank officers in Peninsular M’sia to get 9% salary increase
According to a report by NST, the salary increase comes after the the Malayan Commercial Banks Association (MCBA) and the Association of Bank Officers Peninsular Malaysia (ABOM) recently signed a new collective agreement.
With this agreement, all ABOM members will enjoy a 9% salary increment effective Jan 1. This will in turn benefit around 3,500 bank officers working in 10 commercial banks across Peninsular Malaysia.
On top of that, bank officers will be eligible for an annual increase of approximately 5% each year.
In a statement by MCBA president Datuk Dr Nora Abd Manaf, she said the agreement was the “the beginning of a new era in cooperation” between it and ABOM following eight months of negotiations.
Other benefits included under agreement
Aside from the salary increment, bank officers will be given an annual festival allowance of RM1,800, the first time such an initiative has been made.
Additionally, they will also receive a monthly digital allowance of RM90 to help cover mobile data.
Bank officers will also see a 43% raise in their rural housing allowance, where single worker will have their allowance increase from RM700 to RM900, while married workers will have their increase from RM800 to RM1,100.
As for the annual medical benefit limit for families, it jumped by 27% from RM3,300 to RM4,200 per year.
What do you think of these benefits being given to bank officer? Let us know in the comment section!
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