A "landmark" agreement between Ulster Bank and the Irish Bank Officials' Association, hailed as a new beginning in relations between the two, was unveiled yesterday.
The agreement followed intensive negotiations in recent weeks facilitated by Labour Relations Commission chief executive Mr Kieran Mulvey.
He described the agreement as "unique in the history of Irish banking".
It removes the threat of industrial action at the bank, where union-management relations had declined markedly in recent months.
The agreement sets out procedures for management and the union to discuss areas of potential disagreement, and commits both sides to "transparent and regular communication".
Mutual sharing of "key information" is another element of the agreement, which was outlined yesterday at a press conference jointly given by Mr Mulvey, Ulster Bank chief executive Mr Martin Wilson and IBOA general secretary Mr Larry Broderick.
Only two months ago, at the IBOA's annual conference, Mr Broderick threatened industrial action at the bank unless relations with the union improved.
Accusing it of an "arrogant new management style", he said the bank's approach was: "Ignore the staff, ignore the union, impose change".
There was a lot more sweetness and light evident yesterday as Mr Broderick and Mr Wilson thanked one other, as well as Mr Mulvey, for their work in drawing up the new agreement.
Mr Broderick highlighted a clause in which the bank recognises that involvement in the IBOA should be seen as a "developmental opportunity" for staff, "which would enhance their career prospects within the bank".
It "saddened" him, he said, that other employers had not embraced a similar co-operative approach.
Mr Wilson acknowledged that Ulster Bank's relations with the union had not been good. What was proposed was not a "love-in" and he recognised that he and Mr Broderick still had their respective jobs to do. The agreement does not include a no-strike clause. The idea, said Mr Broderick, was to have co-operation before disputes could develop.
The agreement is to be reviewed after a year by Mr Mulvey, or earlier if requested by either party.
It was welcomed by the Minister of State for Labour Affairs, Mr Frank Fahey. Ulster Bank has 4,558 staff in Ireland.
