In Lisbon, a protest against the closure of the CGD branch will be held in Rua Luís de Camões, organized by the Users Committee against the closure of Caixa Geral de Depósitos (CGD) branches.

In Barreiro, the protest, also against the closure of the CGD branch, will be organized by the Barreiro Public Services Users Committee.

Finally, in Montalegre, Villa Real, there will be a demonstration against the alleged closure of the Millennium Bank branch in the Diocese of Salto.

The union of CGD Group Enterprises Workers (STEC) said on August 12 that CGD management intends to “close another 23 branches in mainland Portugal” this month.

STEC learned that CGD management, after the recent announcement of a huge profit of 486 million [de euros]In the first half of 2022, the Federation decided to cut costs further and close an additional 23 branches, during the current month of August, with an increase in the Lisbon and Porto regions.

The union indicated that the “reasons” for this intention are unknown, and that the desire to “reduce expenditures” necessitates “reducing the capacity of CGD as a public bank,” noting that there is an “inevitable crowding out of the other.” branches in these areas.

Similarly, STEC asserts that since 2012 there has already been a “reduction” of 3,300 workers and the closing of “more than 300 branches” of Caixa in Portugal.

According to the information contained in the earnings statement for the first half of this year, BCP in turn said, “It has continued to implement a series of measures with the aim of maintaining disciplined cost management, including changing the size of the network of branches operating in Portugal, which has grown from 458 branches on June 30, 2021 to 415 branches at the end of June 2022, with an overall impact on the various items that make up other administrative costs.”