Investments by Portuguese families in savings certificates (Certificados de Aforro) reached 42.4 billion euros in May, marking the 20th consecutive month of growth. Data from the Bank of Portugal (Banco de Portugal or BdP) shows a 13.2% year-on-year increase, driven by rising Euribor rates. Additionally, the state-owned Caixa Geral de Depósitos (CGD) announced it will pay 1.25 billion euros in dividends to the state on June 26.
Savings certificate investments reach record 42 billion euros
Friday, 19 June 2026AI summary
Context & Explainers
Banco de Portugal is Portugal's central bank, founded in 1846. It is a member of the European System of Central Banks (ESCB) and the Eurosystem, working alongside the European Central Bank (ECB) to implement monetary policy in the euro area.
Its main functions include supervising banks and financial institutions, ensuring financial stability, managing Portugal's gold and foreign currency reserves, and producing economic research and statistics. It also operates the payment systems infrastructure and issues banknotes.
Banco de Portugal is led by a Governor — currently Mário Centeno (since 2020) — who also sits on the ECB's Governing Council. For residents, the central bank matters because it regulates the banks they use, sets macroprudential rules (such as mortgage lending limits), and provides a complaints mechanism for banking disputes.
Caixa Geral de Depósitos is Portugal’s largest state-owned bank and a major retail and corporate lender. In 2025 it posted a 10% profit increase — helped by selling its stake in Águas de Portugal — and will pay a €1.25 billion dividend to the State, which can affect public finances and confidence in the banking sector.
