In a statement published on the Council's website, the mayor, Rui Anastácio, says it is "unacceptable" that, in a context of public and private investment, the bank "abandons the community."

In a letter sent to the bank's board of directors, the municipal executive and the management of the municipal company Aquanena contest the decision, which they classify as "unilateral," considering it an act that ignores "the historical legacy and the relationship of trust built over seven decades" in that municipality in Espírito Santo.

In the statement, the municipality further argues that the branch closure reveals “total disinterest and lack of sensitivity” towards the economic development effort that the municipality “has been actively implementing since 2021”.

The president of the City Council, elected in October for a second term by the PSD/CDS-PP/MPT coalition, also considers that the branch closure removes “an essential service” from older residents and those less familiar with digital means, in addition to sending “a negative signal” to potential investors and new families seeking local services.

“Given the above, the municipal executive and the presidency of the board of directors of Aquanena will formally request the closure of all accounts at Banco Santander Totta, until the announced closing date,” the statement says.

“Optimisation”

In September, an official source from Santander Totta confirmed to Lusa the branch closures, within the scope of “optimizing the branch network and improving customer service”, but said that no employee departures are planned on the bank's initiative.

The goal, the source said, is to "concentrate larger teams in larger branches" and achieve more efficient service, and the closure of branches should be limited to overlapping areas.

According to Santander Totta, the strategy "is not a cost-cutting exercise," but a bet on next-generation branches.

Among the solutions proposed by Santander are 'work cafés,' a branch model that combines the services of a bank branch with a cafeteria and a co-working area.

Santander Totta also revealed that it has more than 300 VTM (virtual teller machines) that allow deposits, withdrawals of high values, and many other day-to-day operations.

At the end of June, Santander Totta had 4,673 employees and 327 branches, 107 more employees and two fewer branches than a year earlier.