Caixa Geral de Depósitos facts for kids

Quick facts for kids
Caixa Geral de Depósitos

Type	State-owned enterprise
Industry	Banking
Founded	10 April 1876 (1876-04-10)
Headquarters	Lisbon, Portugal
Key people	Paulo Macedo (CEO)

Caixa Geral de Depósitos (CGD) is a big bank from Portugal. It is owned by the Portuguese government. CGD started in Lisbon in 1876 and is now the largest bank in Portugal.

CGD helps people and businesses with their money. It has offices and partners in 23 countries around the world. This includes places in Africa, Europe, the Americas, and Asia. CGD is a very important bank in Portugal. It helps with things like savings, loans for homes, and insurance. It is also one of the biggest banks in Europe.

Since 2014, CGD has been watched closely by the European Central Bank. This is because it is a very important bank for the economy.

How CGD Started and Grew

The main building of Caixa Geral de Depósitos in Lisbon.

A Caixa Geral de Depósitos building in Porto.

CGD has a long and interesting history. Here are some important moments:

• 1876 — Caixa Geral de Depósitos was created. It was set up to help manage public money.
• 1880 — Another bank, Caixa Económica Portuguesa, was started. It helped people with less money save.
• 1885 — The two banks, CGD and Caixa Económica Portuguesa, joined together.
• 1896 — CGD became its own separate organization. Other new groups were also formed to help workers save and to offer pawn services.
• 1918 — CGD began to offer more general banking services.
• 1924 — CGD bought a bank in Brazil.
• 1969 — CGD became a company owned by the government.
• 1974 — CGD bought a small part of a bank in Brazil called Banco Itaú.
• 1975 — CGD opened its first office in Paris, France.
• 1988 — CGD bought another bank called Banco Nacional Ultramarino. This helped CGD grow its business in other countries.
• 1991 — CGD bought two banks in Spain. One was called Banco de Extremadura and the other became Banco Luso-Español.
• 1993 — CGD became a company fully owned by the Portuguese government.
• 1995 — CGD bought Banco Simeón in Spain. This bank had been around since 1857.
• 1997 — CGD started a new bank in Mozambique.
• 1998 — CGD bought a bank in Brazil called Banco Bandeirantes. It also opened an office in Cape Verde, which later became a separate company.
• 2000 — CGD bought more banks and insurance companies. It also sold its share in Banco Bandeirantes to another Brazilian bank.
• 2001 — CGD opened an office in Dili, East Timor. It also combined some of its older banks into CGD itself.
• 2002 — CGD combined its three banks in Spain into one, called Banco Simeón.
• 2004 — CGD took control of a bank in South Africa called Mercantile Lisbon Bank.
• 2006 — Banco Simeón in Spain changed its name to Banco Caixa Geral.
• 2008 — CGD was allowed to start a new bank in Brazil called Banco Caixa Geral-Brasil.
• 2009 — During a difficult time for many countries' money, the Portuguese government helped CGD.
• 2012 — The European Commission agreed that the Portuguese government could help the bank with more money.
• 2016 — CGD announced plans to reduce its number of employees. This was done through early retirement and agreements with staff. This happened during a time of changes in the bank's leadership and more help from the government.

What CGD Does

CGD offers many different types of banking services. These include:

Banking for Everyday People

This is where CGD helps individuals and small businesses. They offer things like:

• Loans for buying homes.
• Credit cards.
• Places to keep your savings.

Banking for Businesses

CGD helps larger companies with their money needs. This includes:

• Giving loans for big projects.
• Helping companies manage their daily money.
• Providing services for businesses to grow and invest.

Helping Companies Grow

This part of CGD helps companies with big financial decisions. They assist with:

• Buying or merging with other companies.
• Helping companies get money by selling shares.
• Giving advice on financial markets.

Trading and Investments

CGD also manages its own money and investments. They deal with:

• Buying and selling different types of investments.
• Managing money in different currencies.
• Helping other banks with their money needs.

Insurance Services

CGD offers different types of insurance. This helps people protect themselves and their belongings. They have:

• Life insurance.
• Other types of insurance for things like property.

Managing Money for Others

CGD helps people and companies manage their investments. They create and look after:

• Funds where many people put their money together.
• Special funds for real estate.
• Services to manage wealth for clients.

CGD Around the World

Caixa Geral de Depósitos has a presence in many countries. They work through different offices and partner banks.

In Africa

• Angola — CGD is a partner in a bank there.
• Cape Verde — CGD owns two banks in this country.
• Mozambique — CGD is involved with two banks.
• São Tomé and Príncipe — CGD owns a bank here.
• South Africa — CGD owns a bank called Mercantile Bank Ltd.

In Europe

• Brussels, Belgium — CGD has an office here.
• Paris, France — CGD has a branch office.
• Berlin, Germany — CGD has an office here.
• Spain — CGD has a bank called Banco Caixa Geral and an office in Madrid.
• London, United Kingdom — CGD has an office here.

In the Americas

• Brazil — CGD has a bank called Banco Caixa Geral Brasil. It also has an office in São Paulo.
• Cayman Islands, Caribbean — CGD has a branch office.
• Mexico City, Mexico — CGD has an office here.
• Canada, Toronto — CGD has an office here.

In Asia

• China — CGD has a branch in Zhuhai.
• East Timor — CGD has ten branch offices.
• India — CGD has offices in Mumbai and Pangim.
• Macau — CGD owns a bank called Banco Nacional Ultramarino and another offshore company.

See also

In Spanish: Caixa Geral de Depósitos para niños