CGD wants to close 23 more branches by the 26th of this month, condemns the union – Banca & Finanças

Caixa Geral de Depósitos management wants to close 23 branches by August 26, denouncing the CGD Group’s Corporate Workers’ Union (STEC).

According to the trade union organization, most of the branches to be closed will be in the Lisbon and Porto regions. Also in Coimbra and Ílhavo, branches will be closed.

STEC President Pedro Messias told Negócios that CGD had not communicated this management decision to the union, which is “disturbing”. Also because, the union leader adds, “the portfolio of clients of agencies that will be closed will be moved to other branches, exacerbating the workload of employees.” In addition, this decision will also “change” the living and working conditions for employees of the branches that will be closed and which will now be redistributed to other branches, Pedro Messias explained.

“With these closings, for which there are no known causes other than the intention to reduce expenditures, even at the cost of reducing CGD’s capacity as a public bank, we cannot help but register, at the same time, the inevitable congestion of other branches in these regions, though. It is no longer able to provide an adequate service response,” STEC writes in a statement.

In the past 10 years (between 2012 and 2022) CGD closed about 300 branches and reduced the number of workers by 3,300. In the first half of 2022, the public bank recorded a profit of 486 million euros.

STEC also states that the CGD is “the only public bank we have in the country” and therefore, it has “social and economic responsibilities” and that we are facing a “clear abandonment scenario by the CGD of vast and populated areas of the country”.

14 branches closed in the Lisbon region

Negócios confirmed to STEC that there are 14 branches in the Lisbon region that will be closed on August 26. Subject of controversy is Rua Luis Cames, in Alcantara, Rua Cardel Mercier, Bairro de Santos, Avenidas Novas, Praca de Londres, Avenida Antonio Augusto Aguiar, Avenida Afonso Costa, in Arreiro, from Avenida Duque de Loli, Avenida de Bensippi Real and Rua Francisco Manuel de Mello, in the Amoreiras region. The heads of the parish councils in Alcântara and Avenidas Novas have already protested the CGD’s decision.

Also in the Lisbon metropolitan area, branches of Algueirão-Mem Martins, in Estrada do Algueirão in Mem Martins, Mina-Amadora, on Rua de Olivença in Amadora, Alfragide branch on Avenida Quinta Grande, amateurs.

On the south bank, branches of Quinta da Lomba at Avenida Escola dos Fuzileiros Navais, in Barreiro, Corroios on Avenida 25 de Abril and Pragal, on Rua Frederico Pinheiro will be closed.

In Coimbra, it is planned to close the Arnado branch at Avenida Fernão de Magalhães and at Ílhavo the branch in Gafanha da Nazaré.

In the Porto region, branches of Amial, on Praça 9 de Abril, Parque de S. João, in Estada da Circunvalação, and Lordelo, on Rua de Campo Alegre, all in Invicta, will be closed. Outside the city, branches in Geifães, Maia and Lobão will be closed.