The leadership of the three banking unions affiliated with UGT will meet urgently to decide what measures to take after the Negotiating Group of Credit Institutions (GNIC) announced the closure of the Collective Bargaining Agreement (CBA) negotiations for 2026. Involved are MAIS (Financial Sector Union), SBN (Financial Sector Workers Union of Portugal) and SBC (National Union of Banking, Insurance and Technology Workers).
In a statement issued this Monday, September 14, the unions revealed that, in the September 11 meeting, the Credit Institutions informed they would not change their 2% salary increase proposal for 2026. The unions had presented their salary review and clause proposals in summer 2025, having initially been confronted with counterproposals of 1.5%, which rose to 2% in February and have remained unchanged since May.
According to the union structures, maintaining the proposal at 2% is insufficient and translates into a new loss of purchasing power, considering the Bank of Portugal's June forecasts, which pointed to an average inflation rate of 3.1% by year-end, aggravated by the continuous rise in oil prices.
The unions accuse the institutions of demonstrating total lack of consideration and respect for active and retired bank workers, highlighting the contrast between the salary proposal and the historically high results, with profits of many millions of euros, as well as dividend distribution and management remuneration. Faced with the unilateral closure of the negotiating process, the leadership will announce to the members the actions to be developed in response to the banks' decision.
