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Business Cyprus

Etyk calls off bank strike early

Labour Minister Zeta Emilianidou

Bank workers union Etyk said on Tuesday it was suspending a strike at Hellenic Bank’s delinquent loan manager following the intervention of Labour Minister Zeta Emilianidou.

The two sides are scheduled to meet at the labour ministry on Wednesday. It follows a meeting between Etyk and Emilianidou on Monday.

“Through yesterday’s lengthy meeting a prospect of resolving the matter has transpired,” the union said in a statement.

In light of the development, it decided to suspend strike measures, it said.

The 48-hour strike that started on Monday, only affected APS Debt Servicing, which is in charge of managing the departments for loans in arrears, recoveries, real estate and monitoring and collection – all former Hellenic Bank divisions absorbed by the new unit.

The union said that Hellenic, which owns a 49 per cent stake in APS Debt Servicing against a 51 per cent shareholding of the Prague-based APS Holdings SA, had no right to change the employment terms of workers transferred to APS.

Following the discussions, Etyk said it would convene a general assembly to decide on how to proceed.

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