State-owned bank Caixa Geral de Depósitos (CGD) posted a record profit of €1.434 billion for the first nine months of the year, a 2.5% increase compared to the same period in 2025. Chief Executive Officer Paulo Macedo reported that overall business volume grew by 7%, bolstered by more than €5.3 billion in new lending and €2.2 billion in customer deposits. The bank also noted that it may revise upward the dividends it pays to the Portuguese state.
Caixa Geral de Depósitos Profits Rise to €1.43 Billion
Thursday, 5 November 2026AI summary
Context & Explainers
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.
Paulo Macedo is the chief executive officer of Caixa Geral de Depósitos (CGD), Portugal's state-owned bank, a position he has held since 2017. A former Minister of Health (2011–2015), he is a prominent figure in the Portuguese financial sector and frequently comments on national economic and public administration policy.
5 sources
- Caixa Geral de Depósitos profit hits record high of over 1.4 billion up to Septembereco.sapo.pt ·
- CGD profits grow 2.5% to €1.434 billion through Septemberdinheirovivo.dn.pt ·
- CGD profits grow 2.5% to 1.434 billion euros through Septembercnnportugal.iol.pt ·
- Caixa posts new record profit of 1.4 billion with lower credit riskpublico.pt ·
- Caixa posts profits of 1434 million euros with business in Portugal up 1%. It may revise upward the dividend to be paid to the State in 2027Expresso ·
