Banks will undergo a 10.97% adjustment this year | Finance

According to the unions, this is The banking class will be one of the few in Brazil to achieve a higher inflation adjustment this year. According to data from Ministry of Labor I collected it dietAs of July 2021, only 17.5% of the negotiations were above the INC, 32.2% equal to the INPC and 50.3% below the INPC.

This shows that we were very meticulous in striking a two-year deal in our campaign last year. In this way, we have made progress in the economic terms as well as preserving all our rights, at a very unfavorable time for workers, with the economic crisis, unemployment and the assault on rights “, confirms the President of the Workers’ Union of the Bank of Sao Paulo, Osasco and the region, Yvonne Silva. She is one of the coordinators of the National Bank workers leadership who represents the category at the negotiating table with vinban (National Federation of Banks).

Fanapan is a parallel structure of the Brazilian Confederation of Banks (Verappan). It is the union arm of the financial system, which represents associates in all business affairs. On his website, Fanapan states that the collective agreements of the bank’s employees for the period 2020-2022 were an unparalleled process in the country’s history.

In the midst of a serious health crisis, historic collective bargaining in virtual assemblies with nearly 150,000 union and non-union workers has been approved and held in all regions. In the end, the success of the negotiations brought benefits to both the bank’s employees and to all residents of Brazil, which depends on the operation of bank branches and jobs.”

In a statement, Veerappan emphasized that the agreement was the result of an extensive nationwide negotiation process, affecting 175 financial institutions and 235 union entities. “This agreement mobilizes significant resources in the economy. In the last four months of 2021, the positive impact on the Brazilian economy, in particular on almost all municipalities, in all regions, where 513,000 employees work in the bank, will be in order. From 6, 8 R$1 billion. The percentage increase will add R$2.4 billion to these workers’ wage bill, which will add to R$4 billion in profit sharing (PLR) and R$400 million in meal vouchers.”

A 10.97% readjustment will also affect Share profits and results (PLR). It is paid in two phases: the first until September 30 and the second in 2022, with the closing of banks’ balance sheets for this year and the consolidation of their profits. Banks have until March 1, 2022 to approve the last batch of PLR 2021.

On their second-quarter balance sheets, banks have already warned that higher inflation should lead to larger category adjustments, which will weigh on spending this year and next. Investor Relations Officer at Bank of BrazilAnd Daniel MariaHe said it was a very, very challenging topic.. President BradescoAnd Octavio De Lazzari JrHe also commented that the adjustment would have an impact on expenses.