Portugal

Banco de Fomento signs first collective labor agreement with UGT and SNQTB unions

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Based on a feed excerpt; full article content has not been acquired. Source evidence retrieved 21/10/2026, 11:11:25 UTC.

Briefings

Banco Português de Fomento signed its first collective labor agreement with UGT and SNQTB banks on October 21, 2026. The agreement establishes a fixed salary table, a 13.33 euro daily meal subsidy for 2026, and a 25% or 50% hourly pay option based on base remuneration. It also includes 25 days of leave before Christmas, a day off on Christmas Day, and a holiday on the day of the 4th of May. Additional benefits include a half-day for school entry, a paid annual leave for workers reaching 55 years or 30 years of service, and a 1-day useful leave for death-related absences. The agreement also covers telework with a daily subsidy and a right to disconnect. It enters into force on June 1, 2026, with a 24-month initial validity period.

Key points

• The agreement establishes a fixed salary table and a 13.33 euro daily meal subsidy for 2026.
• Workers with a fixed-term contract can access a permanent housing loan up to 300,000 euros.

Context

This is the first collective labor agreement signed by Banco Português de Fomento and its three bank unions (UGT and SNQTB). It represents a significant step in protecting workers from unilateral decisions by the bank, ensuring rights are codified in a Collective Labor Agreement rather than the general Code of Labor.

Limitations

The evidence is limited to the text of the agreement and union statements. It does not include data on the number of workers covered, the specific financial impact on the bank, or the exact outcomes of the negotiation process. The agreement's entry into force date is stated as June 1, 2026, but the text notes this is subject to specific transitional calendar applications.

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