The General Confederation of the Portuguese Workers (Confederação Geral dos Trabalhadores Portugueses or CGTP) is reportedly planning a general strike for June 2nd. Secretary-General Tiago Oliveira confirmed the union will pursue various forms of protest against recent labor law changes, with a formal announcement expected during upcoming May Day celebrations.

Update: CGTP confirms general strike date for June 3rd

The CGTP has officially set the general strike for June 3rd, following a national council meeting. The protest targets labor law reforms proposed by the government of Prime Minister Luís Montenegro, with the UGT union indicating it may also join the action.

The Banco de Portugal confirmed that its governor, Álvaro Santos Pereira, has sold shares he purchased while in office. The divestment followed contact with the European Central Bank (Banco Central Europeu or BCE), which prohibits such holdings for officials in his position. The governor had previously acquired shares in companies including Galp and Jerónimo Martins.

The Bank of Portugal (Banco de Portugal or BdP) is advising customers to contact their banks if they face difficulties resuming home loan payments. The moratorium, which allowed for a temporary suspension of payments for families affected by severe weather, officially ends on April 28.

Approximately 7,400 families and companies affected by recent severe weather have joined government-decreed bank moratoriums. Deputy Governor of the Bank of Portugal (Banco de Portugal or BdP) Clara Raposo confirmed that the total credit amount covered by these measures reached 930 million euros by the end of March.

A recent conclusion from the Advocate General of the European Union regarding case C-70/25 suggests that banks may no longer use 'gross negligence' as a blanket defense to deny reimbursement for digital fraud. The opinion argues that financial institutions should be required to reimburse unauthorized transactions immediately, shifting the burden of proof onto the banks if they wish to pursue claims of customer negligence.

Bankinter has announced a five-year plan to become one of the six largest banks in Portugal by overtaking competitors like Banco Montepio. The bank's head in Portugal, Alberto Ramos, stated the strategy focuses on growing corporate lending and expanding digital services. The branch, which entered the market ten years ago, currently reports higher efficiency levels than its Spanish parent company.

Minimum banking service accounts (Serviços Mínimos Bancários or SMB) reached a record 265,627 at the end of 2025, according to the Bank of Portugal (Banco de Portugal). These accounts cost approximately €5.37 per year and provide essential services like a debit card, home banking, and MB Way. Residents looking to reduce banking fees should note that existing current accounts (contas de depósito à ordem) can often be converted to this lower-cost format.

Bank of Portugal (Banco de Portugal) Governor Álvaro Santos Pereira stated that a retirement agreement with his predecessor, Mário Centeno, will save the institution €2.2 million in future salary and social security costs. The Governor emphasized that the pension will be paid by the bank's own pension fund and will not cost taxpayers anything. Tax-paying residents should note that the agreement settles the former Governor's status as he transitions out of his remaining consultant role.

André Ventura, leader of the Chega party, has summoned the Governor of the Bank of Portugal (Banco de Portugal), Álvaro Santos Pereira, to explain a pension agreement for his predecessor. The controversy involves former governor Mário Centeno, who reportedly reached a deal to retire at 59 with a pension nearly equal to his full salary of approximately 20,000 euros per month. Residents should note this follows reports of a “hidden agreement” regarding the early retirement.

Severe weather earlier this year has led to 616 loans being placed under moratorium at Crédito Agrícola, totaling €124 million in debt relief for affected customers. The damage was particularly heavy in the central region, with the municipality of Arganil alone reporting €1 million in losses to local roads and infrastructure. Local authorities are still working to restore access to areas like Piódão, where landslides have interrupted traffic. Residents in the central interior should be aware of ongoing road repairs and check with their financial institutions if they require assistance due to weather-related property damage.

Fernando Ulrich, non‑executive president of BPI, told parliament that information exchange among banks accused in the so‑called “banking cartel” was “highly beneficial for consumers,” pointing to historically low mortgage spreads between 2002 and 2013. The comments came during a hearing requested by Chega as a judicial process looks at alleged collusion in mortgage lending. Borrowers and those currently negotiating mortgages should monitor the case: legal outcomes could affect bank practices, compensation claims and reputations. Customers with outstanding mortgages or new loan plans should keep records and follow any consumer guidance from regulators.