Following the branch closures and based on information from the end of June, BPI will now have a network of 533 branches.
Of the 25 BPI branches to be closed, nine are located in the central region, eight in the north, six in the south and two in Madeira.
Portugal’s main banks have all recently made moves to streamline their networks as a way of improving results. Along with branch closures, the banks have also been reducing staff.
At BPI, which in June had a staff of 5,846, the chairman of the bank, Fernando Ulrich, announced he expected to end the year with 300 fewer workers.
State bank Caixa Geral de Depósitos (CGD), after making 448 people redundant in 2015, now plans to restructure and lose 500 workers by 2020.
The country’s largest private bank, BCP has cut down on thousands of staff in the last few years.
In 2015 Novo Banco made a deal with the European Commission to reduce workers by around 1,000 people by the end of this year. At the end of June, the bank that inherited the healthy assets of bankrupt Banco Espírito Santo (BES), had 5,885 employees.
Santander Totta said in July it expected to reduce its staff by 150 by the beginning of next year and Montepio has reduced its staff numbers by around 350 people in the first half of the year.