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More than 20,000 state-bank employees would get increments between 2,800 rupees to 13,000 depending on their grades, Ceylon Bank Employees Union, Chief M R Shah said.
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The lowest grade will receive 2,800 rupee increment and the superiors like CEOs or general managers are in line for a 13,000 rupee increment, Shah said.
The Bank of Ceylon, People's Bank, National Saving Bank, and the State Mortgage and Investment Bank come under the collective agreement.
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There are 20 grades in state banks and the collective agreement would be applicable from the 2006/2007 financial year.
The salary costs of state banks are expected to go up by 20 percent as result of the new agreement.
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CBEU said the government approved banking trainees' allowances to be raised to 12,000 rupees.