Ulster Bank and the Irish Bank Officals' Association (IBOA) have reached a "milestone" agreement on principles and objectives to improve the business and working environment in the bank.
The agreement outlines internal processes by which the management and the union can discuss and resolve issues of potential disagreement in a non-adversarial environment at national and at local level.
At the announcement of the framework agreement entitled Ulster Bank and IBOA Working Together, Mr Kieran Mulvey, chief executive of the Labour Relations Commission, said it represented "a significant milestone in the development of a positive 'mutual gains' approach between Ulster Bank and the major trade union — the IBOA".
Mr Martin Wilson, group chief executive, Ulster Bank, welcoming the agreement said Ulster Bank recognised the IBOA "as a key partner having a major role in decisions affecting staff".
IBOA General Secretary Mr Larry Broderick welcomed the agreement, which he described as "innovative".
"It is a substantial breakthrough in our relationship with Ulster Bank and its successful implementation will benefit the bank, staff and customers alike," he said.
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