Several protests are planned for today, due to the closure of Caixa Geral de Depósitos (CGD) branches in Lisbon and Barreiro and BCP in Montalegre, at a time when banking activity is reducing its retail network.

In Lisbon, a protest action against the closure of the CGD counter of Rua Luís de Camões, organised by the Commission of Users Against the Closure of the Branches of Caixa Geral de Depósitos (CGD). In Barreiro the protest, also against the closing of a CGD counter, will be organized by the Barreiro Public Service Users Commission. Finally, in Montalegre, Vila Real, there will be a demonstration against the closure of the Branch of Banco Millennium, in the parish of Salto.

The CGD Group's Business Workers Union (STEC) said on the 12 August that CGD's management intends to "close 23 more branches in mainland Portugal" this month.

"STEC was aware that CGD's management, following the recent announcement of the large profit of 486 million euros in the first half of 2022, cut costs further and closed 23 more branches during this August, with a higher incidence in the Lisbon and Porto regions," the union said in a statement sent to Lusa.

The union that "paraded the reasons" for this position, and that the willingness to "reduce expenses" carries the "devaluation of CGD's capacity with regard to the public bank", pointing out that there is "an inevitable congestion of branches in these areas".

Similarly, STEC points out that since 2012 there had been a "decrease" of 3,300 workers and the closure of "more than 300 branches" of Caixa in Portugal.

The BCP, according to the information of the earnings released for the first half of this year, said that "it has continued to implement a series of measures to maintain a disciplined management of costs, including the resizing of the branch network in Portugal, which evolved from 458 branches on the 30 June, 2021. They also highlighted that 415 branches at the end of June 2022, had a widespread impact on the headings that make up the other administrative expenditures".