Sileoni: ‘We need a concrete proposal from the banks regarding workers’ wages’

Isn’t your financial request a bit too high? Won’t it cause problems for the banks?

We are calling for an average monthly increase of 518 euros over the three-year period, once the scheme is fully implemented, to offset inflation and recognise productivity. Between 2022 and 2025, bank profits rose by 72 per cent, whilst labour costs increased by 7 per cent. Furthermore, each bank employee generates an average of 430,000 euros in revenue per year, compared with an average labour cost of 77,000 euros. This means that each bank employee generates value worth more than 5.5 times their cost to the bank. The figures show that this demand is sustainable: those who have delivered these results must share in the benefits.

Is she concerned about the Government’s approach, given that it has asked the banks for funds as part of the budget?

The Government and the banks must discuss the matter and find a solution. The collective agreement is following its own course: we will not accept the budget negotiations being used as an excuse to postpone pay rises for bank employees.

The contract expired seven months ago: how will the purchasing power lost in the meantime be recouped?

The renewal will take effect from 1 April 2026, with all that this entails. It boils down to one simple thing: whilst prices continue to rise, the time lost in negotiations must not result in a financial loss for workers.

Will the regulatory aspect carry greater weight in these negotiations?

This will be a decisive factor, alongside salaries. Reduced working hours, commercial pressures, safety and professionalism all affect the quality of life of those in work. The national collective agreement must guarantee common rights, even when banks change ownership or organisational structure.

What impact will artificial intelligence have on employment in the banking sector?

It will depend on how the trade unions handle the business plans in 2027 and 2028, both in terms of the outcomes of the extraordinary transactions and the updates to the plans of those banking groups that are not currently affected by the extraordinary transactions. Employment has been one of the main issues in industrial relations within the banking sector over the last 20 years. We have always shared this view with the banks, as evidenced both by all the agreements we have reached within the groups regarding voluntary early retirement schemes and by the Employment Fund, which has ensured generational renewal and over 40,000 new hires during a period of profound transformation for the sector. Our immediate future depends on the choices we make at both national and company level, which will be the main topic we will continue to discuss at the Fabi National Congress to be held from 18 to 22 January in Rome.

There are many signs, particularly in tech companies and the consultancy sector, that artificial intelligence is reducing the number of entry-level and young people being recruited. What is happening in the banking sector?

Even in the banking sector, certain aspects of the business are changing. We cannot allow technology to become a shortcut to cutting staff numbers: we need to recruit, train staff and develop new skills. A bank that fails to invest in young people risks losing expertise and the personal connection with its customers.

On 9 and 19 November, you will be returning to the Abi negotiating table. What do you expect from this renewal?

A contract that recognises work through pay and provides security in the face of change. The banks have been able to deliver value to shareholders: now they must recognise, with the same clarity, the contribution of the people who have built that value.