Bank of Ireland staff, who are members of the Financial Services Union (FSU), have voted to accept a new pay deal.
The proposals include a 4% pay increase for 2024 and a health insurance allowance which, in the Republic of Ireland, will be paid at a rate of €1,400 annually.
A new health benefit is being designed for staff based in Northern Ireland, which will also be introduced at the same time.
In February, Bank of Ireland announced the return of staff bonuses from next year.
The performance-related Profit Share Scheme will be based on both the financial performance of the company and individual performance during 2023.
The bonuses will be capped at €20,000, with a maximum award of 10% of an employee's salary.
"It is important the banking sector in Ireland is competitive in terms of the offer when recruiting staff to work in the sector and retaining staff currently employed in the sector," said John O'Connell, General Secretary of the FSU.
"The return of variable pay and benefits is an opportunity for the main banks to increase the remuneration offered to staff and to make the sector an attractive opportunity for new graduates," Mr O'Connell said.
