Banco de Chile agrees to signing bonuses of CLP 5.8 million

Banco de Chile concluded collective bargaining with two of its largest unions, the Banco de Chile union and Banco de Chile-Edwards workers' union Sindibae. The alliance represents more than 6,200 members. Talks began on August 21, 2026, and concluded with the agreement signed on September 15, 2026, after nine meetings. The 2026-2029 contract was approved by 90.2% of the 3,578 participants voting in the national assembly.

The deal includes a gross signing bonus of CLP 5,800,000 per worker, subject to taxes. According to the Banco de Chile union, CLP 4,050,000 was paid in advance on September 17, 2026, with the remainder scheduled for September 24, 2026. Permanent monthly compensation improvements taking effect in October include CLP 60,000 gross in base pay, CLP 5,004 net in transit allowance, and CLP 9,996 net in meal allowance. Soft loans were raised to CLP 6,000,000, with applications scheduled for December 2026 and April 2027, subject to bank risk assessment.

Holiday bonuses were also updated. For the Banco de Chile union, vacation bonuses will reach up to UF 25 (CLP 1,026,225) and Christmas bonuses up to UF 8.5 (CLP 348,917). For Sindibae, these benefits reach up to UF 22 (CLP 903,078) and UF 9 (CLP 369,441), respectively. The annual voluntary retirement fund doubled from CLP 100 million to CLP 200 million for workers with at least 25 years of service. Unlimited severance quotas were retained for negotiating members with at least 15 years at the lender.

Performance incentives replaced the former Super Cajero award with a quarterly bonus for the top 20% of customer service executives. Beneficiaries will receive CLP 175,000 gross, while the top 50 in the ranking will receive an additional CLP 70,000. At the close of 2025, 94.2% of Banco de Chile staff were covered by collective agreements across nine unions. Banco de Chile declined to comment.