Board of Directors
Chairman & CEO
António de Sousa
Deputy Chairmen
Carlos Alberto de Oliveira Cruz Luís Mira Amaral
Visit us at:
www.cgd.pt
Directors
Alexandre Sobral Torres António Tomás Correia Miguel Athayde Marques Fernando Sequeira José Ramalho Vítor Fernandes

CGD - A Group Committed to Innovation

Caixa Geral de Depósitos (CGD) has been widely acknowledged as Portugal's leading banking institution for 127 years.

Today, CGD is a modern financial-services group coping with new challenges in the form of domestic and overseas competition, as well as with the emergence of global markets and new ways of doing business. CGD is a state-owned institution, and the only bank in Portugal with this type of shareholder structure.

Notwithstanding that, its main corporate mission is to maximize shareholder value and, no less importantly, sustain a leading role in promoting growth and fostering innovation in the domestic market.

That mission requires several strategic aspects to be achieved, such as:

Making continuous improvements to its core retail banking business, as the bank preferred by 5 million customers. Providing quality of service and customizing operations to customer needs by providing tailor-made products and services. Enhancing penetration, targeting sectors with growth and profit potential. Maintaining the highest professional and ethical standards in the running of its business.

A great deal of progress has been made over the past few years in meeting these targets.

CGD is the largest Portuguese financial group, with the biggest domestic market shares in key areas such as customer deposits (32.0% at the end of 2002), total customers loans (23.2%), mortgage lending (34.8%), insurance (21.9%), mutual funds (19.8%), and real estate leasing (20.8%).

CGD has been engaged in committing substantial human and financial resources to innovative technological initiatives. It has also focused on the implementation of a new strategic cycle, dominated by such pioneering initiatives as electronic distribution channels, Caixa Directa on-line (Internet banking), Caixa e-Banking (corporate Internet banking), CaixaNet (IT infrastructure), CaixaWeb (CGD Group's "dot.com"company) and Bolsa Caixa Imobiliário (e-business specialised in real estate and home loans).

In addition, automation has been increased and convenience-banking networks expanded, involving agreements with Postal Services, fuel stations, railway stations, universities, and public services.

At December 2002 (EURO - millions)
CGD Group Key Indicators	2002	2001
Total Assets (Net)	66581	66462
Total Loans	50632	47752
Securities	7346	9085
Customer Deposits	45206	43513
Shareholders' Equity	5180	5089
Net Income for the Year	665	654

International Ranking

CGD’s international recognition is reflected in its world ranking. It ranks at 117 in terms of world’s biggest banks by assets and at 125 in terms of shareholder’s equity. In Europe, it ranks at 56 and 61 respectively for the same indicators*. (insert picture 4)

* - The Banker Magazine "Top 1,000 World Banks"–July 2002
* - The Banker Magazine "Top 300 European Banks"–Sept 2002

CGD also plays a leading role in the bond markets (both public and private sector), as well as in the money market as a supplier of interbank liquidity.

CGD is also the only Portuguese bank on the EURIBOR panel.
 

Ratings MOODY’S FICHT RATINGS STANDARD & POOR’S Source: 2002 Annual Report SHORT TERM Prime-1 F1+ A-1 LONG TERM Aa3 AA- A+

Standard & Poor’s issued Caixa Geral de Depósitos with an "A+" in long-term rating. This is the highest rating ever attributed to a Portuguese bank by this international agency. The short-term rating was "A-1".

In announcing this new rating, S&P stressed CGD's leading position in the banking sector in Portugal, with a major presence in retail banking, especially mortgage lending.

Directly or through a large number of subsidiaries, the CGD Group offers a full spectrum of financial products and services, developing a "cross-selling" concept that allows every customer to use its services at any geographical point where the bank is represented.

International Reach

CGD operates Branch Offices in France (Paris), Luxembourg, Monaco, United Kingdom (London), Cayman Islands, USA (New York), China (Zhuhai), East Timor (Díli), It also has controlling interests in Banco Simeón (Spain), Banco Comercial do Atlântico and Banco Interatlântico (Cape Verde), Banco Comercial e de Investimentos (Mozambique), Mercantile Lisbon Bank (South Africa), Banco Nacional Ultramarino (China-Macao) as well as qualified holdings in Banco Internacional de São Tomé e Príncipe and Unibanco (Brazil). (insert picture 6)

CGD Group has Representative Offices in Belgium (Brussels), Germany (Berlin), Switzerland (Geneva), Brazil (São Paulo and São Salvador da Baía), Mexico (Mexico City), Venezuela (Caracas) and India (Mumbai).

CGD Group has particularly endeavoured to demonstrate to its most important partners operating in the Eurozone Area that it is the best option for domestic market operations.

Caixa Geral de Depósitos Group
	Caixa Geral de Depósitos
Banking	Banco Simeón (Spain) Banco Comercial do Atlântico (Cape Verde) Banco Interatlântico (Cape Verde) Banco Comercial e de Investimentos (Mozambique) Mercantile Lisbon Bank Holding (South Africa) Banco Nacional Ultramarino (China-Macao)
Investment Banking, Venture Capital and Brokerage	Caixa Banco de Investimento Caixa Capital A Promotora (Cape Verde)
Asset Management	Caixagest CGD Pensões Fundimo CGD Luxemburgo Caixa Gestão de Patrimónios
Specialised Credit	Imoleasing Locapor Lusofactor Caixa Crédito, SFAC BCI – Leasing (Mozambique)
Insurance and Life Assurance	Fidelidade - Mundial Via Directa – Companhia de Seguros Garantia – Companhia de Seguros (Cape Verde) EAPS – Empresa de Análise, Prevenção e Segurança CARES – Companhia de Seguros e Assistência GEP – Gestão de Peritagens Automóveis HPP - Hospitais Privados de Portugal SMN – Serviços Médicos Nocturnos EPS – Gestão de Sistemas de Saúde
Support Services	Sogrupo Serviços Administrativos, ACE Sogrupo Sistemas de Informação, ACE Sogrupo – Gestão de Activos, ACE Sogrupo – Gestão de Imóveis, ACE Caixanet Imocaixa Caixa Imobiliário SGII
e-Business	CaixaWeb Imoportal.com Portal Executivo
Support to the Arts	Culturgest

CGD - Your Portuguese Partner in the financial world

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