Caixa Geral de Depósitos (CGD) presented a consolidated profit of 1,399 million euros in the first nine months of the year, which represents a growth of 2% compared to the 1,369 million euros recorded in the same period last year, the bank informed the market this Thursday. The evolution mainly reflects the “significant” increase in business volume.
The financial margin, which generally results from the difference between the interest that the bank pays to customers on their deposits and the interest it receives on loans, reached 1916 million euros, compared to 2121 million in September last year, which translates into a decrease of 206 million euros, caused by the decline in the European Central Bank’s (ECB) key interest rates.
Commissions charged to customers amounted to 439 million euros, slightly above the 437 million recorded a year earlier, reflecting “the favorable evolution of commissions received associated with means of payment, as well as the sale of insurance products and investment funds”. The price list remained unchanged for the third consecutive year.
Domestic activity contributed 1,290 million euros to the consolidated result, while international activity totaled 106 million, compared to 1,220 and 149 million, respectively, in the first nine months of 2024. In the international panorama, the bank highlights the contribution of BNU Macau, BCI Moçambique and BCG Angola.
In the first nine months of the year, the ratio that measures the bank’s ability to pay shareholders (ROE) stood at 17.7%, reducing compared to the same period last year. CGD’s executive president, Paulo Macedo, said, when presenting the results, that his objective is to maintain this indicator above 15% by 2028, which he considers “very ambitious”.
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