Wage settlement underway in banking and insurance – 22,000 employees demand their share of interest income

– The financial industry can show very good results. This has benefited the owners. Now we expect that employees will also get real wage growth, says Vigdis Mathisen, head of the Financial Association.

The banks have large interest income following the many interest rate increases in recent years. Last year alone, the Norwegian banking industry had a total profit of NOK 88 billion, according to Statistics Norway (SSB), writes HKNytt and Free trade movement.

– The companies are doing very well, so we have a good starting point for the negotiations. But of course we must deal with the front subject framework, says leader Vigdis Rekdahl of LO Finans HK.

With a backdrop of 5.2 per cent in the frontline professions framework and agreement that the lowest paid should have something more, it is well established that state employees will also finally have increased purchasing power. Different estimates for price growth vary from 3.9 to 4.1 per cent, which implies an increase in purchasing power of between 1.3 and 1.1 per cent.

The wage settlement covers 22,000 employees, mainly in banking and insurance.

– We are looking forward to two good and constructive days of negotiations and hope that the parties will reach a good solution, says Finans Norge’s head of negotiations Therese Høyer Grimstad.