CGD reports 913 million euro profit in first half
The state-owned bank Caixa Geral de Depósitos (CGD) recorded a profit of 913 million euros in the first half of 2026, a 2.2% increase compared to the same period last year. CEO Paulo Macedo noted that the bank has provided 2.5 billion euros in loans to young people under the state guarantee scheme since January 2025. Additionally, home loan approvals saw a significant year-on-year increase of 42%.
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.
