1H2026 Results

30 Jul 2026

Caixa Geral de Depósitos releases its consolidated results

Net income of €913 million (+2.2% year on year)
Business volume in Portugal increased €7.0 billion during the 1st half of the year, driven by €3.6 billion growth in lending and a €3.4 billion increase in customer resources
Total resources in Portugal reached €107 billion, growing by approximately €3.4 billion in the quarter, with funds and insurance doubling the growth rate of deposits
Customer loan portfolio in Portugal totals €55 billion, increasing by €3.6 billion (+7%) in the first half of the year
Mortgage lending production reached approximately €3.7 billion in 1H 2026 (+42%), exceeding €740 million in the month of June, a historic milestone
By financing housing for one in every three young people, in 2026, CGD increases its support in the mortgage loans with State guarantee to €2.5 billion.
Corporate lending: new investment financing totalled €3.7 billion (+49% year on year) confirming the growth trajectory.

Continuous improvement in digital and proximity to companies is reflected in business growth
Commissions in relation to turnover stabilize, reflecting exemptions and maintenance of pricing for the fourth consecutive year and the lowest fee levels among the main competitors
Recurring cost to income ratio of 31.5%, evidencing consistent performance and outperforming the European average
In 2026, CGD has already delivered €1.33 billion to the State in dividends and corporate income tax, and it is expected that at the end of the year this amount will correspond to €1.66 billion, following contributions of €1.78 billion in 2025 and €1.66 billion in 2024

Digital customers in Portugal exceed 2.6 million, with 99% of financial transactions (2.8 million/daily) carried out through digital channels and 1% through branches. CGD has the largest ATM/VTM network in Portugal
Caixadirecta Empresas recorded 200 thousand clients, with growth of 19% compared with the corresponding period last year
CGD’s network continues to provide the widest banking coverage in Portugal among the five largest banks, with 484 branches and 45 SME offices

CGD ranks as the No. 1 bank in Portugal in The Banker’s Top 1000 World Banks 2026 ranking
DBRS upgraded Caixa’s rating to A (high), giving CGD the highest rating among Portuguese banks S&P revised the outlook on CGD’s ‘A’ rating to Positive, signalling the potential for a future rating upgrade Prudential ratios above 21% after deduction of historic €1.25 billion dividend
CET1 ratio of 21.3% and Total Capital ratio of 21.3%, after deduction of the largest dividend ever paid by Portuguese banking
Organic capital generation of €8.8 billion since the recapitalisation, of which €4.2 billion has been retained by the Bank and €4.6 billion distributed as dividends, representing more than twice the amount received from the shareholder in 2017 (€3.9 billion)

Proforma NPL (Non-Performing Loans) ratio, decreases to 1.36%, with a coverage ratio of 170%
Exposure to non-core assets - NPLs, real estate and restructuring funds - Down 7% year-on-year on a proforma basis.

Sustainable financing recorded €1.6 billion in new production, contributing to the achievement of the target set for 2026.
The portfolio reached €7.4 billion
Planned investment of €20 million in education, culture and social support in 2026

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¹ NPL – Non-Performing Loans: Ratios according to EBA Risk Dashboard

The financial statements were prepared based on International Financial Reporting Standards (IFRS) as adopted in the European Union, following Regulation (EC)
No. 1606/2002 of the European Parliament and of the Council of 19 July and the provisions of Decree-Law No. 35/2005 of 17 February. The financial information reported is unaudited.
The values and ratios presented refer to 30 June 2026, unless stated otherwise. These may include estimated values, subject to change upon final determination.
In the current economic environment, the risk of further geopolitical, trade or climate‑related shocks remains high, potentially triggering periods of heightened volatility in financial markets and affecting the decision‑making of companies and investors. Given this context and taking into account the best information available as of today, the Board of Directors considers that Caixa Geral de Depósitos is adequately prepared, in terms of capital and liquidity, to absorb any adverse impacts arising from potential changes in the global economic landscape, while maintaining the necessary support to its customers and to the national economy.
This document is only intended to provide general information and does not constitute investment advice or professional advice, nor can it be interpreted as such.
This document is an English translation of the Portuguese language document “Resultados Consolidados 1S 2026”. In the event of any inconsistency, the original version prevails.