1Q2025 Results

22 May 2025

CGD’s first quarter 2025 net profit of €393 million, similar to the previous year (down 2M€)
Net interest income was down 11% with falls in interest rates
Recurring efficiency ratio (cost-to-income) remains below 30%
Contribution of international entities impacted by a revised rating on Mozambique’s public debt. Notwithstanding the country’s social instability, CGD group’s local bank maintained its operations, continuing to serve its customers
The €850 million dividend paid in 2025 was the highest ever, increasing total dividends paid since 2017 to €3.350 billion

Consolidated turnover reached €167 billion, an increase of €9.7 billion compared to March 2024. In Portugal, during the first quarter, the customer credit portfolio grew by approximately €1.3 billion, with an €800 million increase in corporate and institutional segments, and among individuals: over €400 million in mortgage credit and around €50 million in consumer credit
New mortgage loans of €1,1 billion across the quarter were up 61% by more than €400 million year-on-year
CGD achieves 2 million mobile customers
CGD is the leading bank in number of companies (3,881) awarded leading SME status under the “PME Líder 2024” programme. This was up 52% in comparison to the preceding programme and shows companies’ growing preference for CGD support
In terms of traditional banks CGD is the world’s banking brand with the largest overall growth (up 163%). It is also the most valuable national banking brand and comes 116th in international terms

S&P Global Ratings upgraded CGD’s long-term rating from A- to A in March 2025, the same as for the Portuguese Republic. The short-term rating was upgraded from A-2 to A-1, the highest rating for this maturity
The DBRS rating was “A” (low) with a "Positive" outlook with an intrinsic rating of "a3" from Moody’s, the same as for Portugal and the highest in terms of national banking

The capital ratios of 20.7% (CET1) and 20.9% (Total) include net income for the period, net of €850 million in dividends for 2024 and the payout calculated for the first quarter of 2025
Shareholders’ equity of more than €11 billion based on organic capital generation, up by around €325 million across the quarter

Further decrease in the NPL ratio to 1.44% against 1.48% at the end of 2024, below the European average of 1.9%
Cost of credit risk of -0.25% reflecting the favourable evolution of credit quality and an improved macroeconomic scenario
Exposure to non-core assets - NPL (non-performing loans), real estate and restructuring funds − down €49 million across the quarter

CGD hired 44 new employees this quarter, along with 51 interns admitted under the Geração Caixa Internship Programme, totalling 95 new entries
In the first quarter of 2025, an average of 21 hours of training per employee was delivered, compared to 18 hours in the first quarter of 2024

Six hundred scholarships for a total amount of €780 million were awarded on the occasion of the 7th edition of “Caixa Mais Mundo” prizes
CGD was distinguished as one of the 600 companies leading the fight against climate change, according to the "Europe’s Climate Leaders 2025" produced by the Financial Times in partnership with Statista

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