Caixa Geral de Depósitos facts for kids
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| State-owned enterprise | |
| Industry | Banking |
| Founded | 10 April 1876 |
| Headquarters | Lisbon, Portugal |
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Key people
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Paulo Macedo (CEO) |
Caixa Geral de Depósitos (CGD) is a big bank in Portugal. It is owned by the Portuguese government. It was started in Lisbon in 1876. CGD is the largest bank in Portugal.
Today, CGD works in many countries around the world. It has offices and branches in 23 countries across four continents. CGD is the biggest financial group in Portugal. It helps many people with their savings, loans, and other money needs. It is also one of the largest banks in Europe. The European Central Bank supervises CGD directly.
Contents
History of CGD
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CGD has a long and interesting history:
- 1876: Caixa Geral de Depósitos was founded. It started as a way to manage public money.
- 1885: CGD joined with another bank called Caixa Económica Portuguesa. This bank helped people with less money save.
- 1918: CGD started to offer more general banking services.
- 1924: CGD began to grow internationally. It bought a bank in Brazil.
- 1969: CGD became a company owned by the Portuguese government. This meant the government had full control.
- 1975: CGD opened its first branch in Paris, France. This was another step in its international growth.
- 1988: CGD bought Banco Nacional Ultramarino. This helped CGD expand even more into other countries.
- 1991: CGD bought banks in Spain. This made it stronger in Europe.
- 1993: CGD became a company fully owned by the state.
- 1997-2001: CGD continued to expand globally. It opened banks in Mozambique, Cape Verde, and East Timor. It also bought more banks in Brazil.
- 2006: One of its Spanish banks changed its name to Banco Caixa Geral.
- 2009: During a time of money problems in Europe, the Portuguese government helped CGD.
- 2016: CGD announced plans to reduce its staff. This was part of a plan to make the bank stronger.
What CGD Does
CGD offers many different types of banking services. These services help individuals, businesses, and even the government.
Banking for People
This is called retail banking. It includes:
- Helping people get loans for homes (mortgages).
- Giving out credit cards.
- Taking deposits (when people put money into their accounts).
- Helping small businesses and individuals with their money.
Banking for Businesses
This is called commercial banking. It includes:
- Giving loans to companies.
- Helping businesses with their everyday money needs.
- Helping big companies with large projects.
- Helping small and medium-sized businesses.
Helping Companies Grow
This is called corporate finance. It includes:
- Helping companies buy or merge with other companies.
- Helping companies change how they are set up.
- Helping companies sell parts of their business.
- Giving advice to companies about money and markets.
Money Trading
This part of CGD manages the bank's own money. It also helps with:
- Buying and selling different types of investments.
- Dealing with different currencies (money from other countries).
- Offering special financial tools to other banks.
Insurance Services
CGD also offers insurance. This includes:
- Life insurance.
- Other types of insurance to protect people and their belongings.
Managing Investments
This is called asset management. It helps people and companies:
- Invest their money in different funds.
- Manage their wealth to help it grow.
CGD Around the World
CGD has offices and banks in many countries. Here are some of the places it operates:
In Africa
In Europe
- Brussels, Belgium (an office)
- Paris, France (a branch)
- Berlin, Germany (an office)
- Spain (a bank called Banco Caixa Geral and a branch)
- London, United Kingdom (an office)
In the Americas
- Brazil (a bank called Banco Caixa Geral Brasil)
- Cayman Islands (a branch)
- Mexico City, Mexico (an office)
- Toronto, Canada (an office)
In Asia
- People's Republic of China (a branch in Zhuhai)
- East Timor (ten branches)
- India (offices in Mumbai and Pangim)
- Macau (a bank called Banco Nacional Ultramarino and an offshore office)
Images for kids
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A Caixa Geral de Depósitos building in Porto.
See also
In Spanish: Caixa Geral de Depósitos para niños
