BPI Closes 14 branches

One of Portugal’s largest high street banks has closed 14 branches in a rationalisation bid aimed at focusing services online.

The bank, owned by the Spanish bank CaixaBank and employing 4,898, posted profits of €253 million for the third quarter of 2019.
The branch closures brings the total number of branches down to 407 branches, 14 fewer than in September of 2018.
Instead the bank has been focusing on its 31 ‘premier’ centres, one mobile branch and 34 business centres, bringing the number of commercial outlets it has open to the public to 479.
BPI registered profits of €253.6 million for the first nine months of 2019, 52% down from the €529.1 million results recorded for the same period in 2018.