Business

Bank unions agree on 3% salary increase and cancel strike

Following an agreement reached, the bank unions have called off the planned strike on November 30, resulting in a 3% salary increase.

28 October 2026Tagblick Newsdesk

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Archive photo: Bank unions agree on 3% salary increase and cancel strike — Archive photoPhoto: Joehawkins · Wikimedia Commons · CC BY-SA 4.0

The banking sector unions announced that the strike scheduled for November 30 has been canceled after reaching an agreement that provides for a 3% salary increase for this year. This increase also applies to pensions, retroactively from January 1, according to statements from the unions.

The involved unions, which represent the majority of banking workers, reached an understanding with financial institutions, including the Portuguese Banking Association (APB). This new agreement comes after a prolonged negotiation process aimed at securing better salary conditions for workers in the sector.

The salary update has been confirmed as a positive step, but the unions indicated that demands related to other issues that still need to be addressed by the financial institutions will continue. Thus, the fight is not only for salary increases but also for additional measures.

The agreement was met with a mix of satisfaction and caution, as while most banks have accepted the increases, the situation at specific banks like BCP and Montepio remains uncertain. For these, the possibility of a strike cannot yet be entirely ruled out.

Additionally, reports indicate that Caixa Geral de Depósitos (CGD) has shown a willingness to discuss a possible agreement, but details have not yet been officially disclosed. This situation could benefit workers if a consensus is reached before the previously scheduled strike date.

In this context, the unions continue to engage in dialogue with financial institutions to ensure that all workers' demands are addressed, even after the strike suspension and the salary agreement reached.

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