The General Deposits Cashier (CGD) has increased its allocation to the public housing credit guarantee by EUR 95 million, bringing the total to EUR 602.2 million, the bank announced today. The reinforcement aims to ensure funding for young people in the purchase of the first housing, given the high demand.
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20/10/2026
by
Lusa
A General Deposits Cashier (CGD) obtained a reinforcement of EUR 95 million in its allocation under the public guarantee for housing credit, which now totals EUR 602.2 million, the bank announced today.
In a statement, the institution led by Paulo Macedo explains that the reinforcement aims to ensure the continuity of funding for young people in the purchase of the first housing, given “the high demand recorded since the beginning of the measure and the strong use of the amount initially allocated to the bank”.
Since January 2025, CGD has financed 23,000 young people in the acquisition of the first housing, totaling €3.2 billion, with the average age of 29.
According to the public bank, the State guarantee represents 27% of the credit contracted by Caixa since 2025 and was used by 51% of the young people financed by the institution.
“ The default rate associated with the operations financed remains residual, below 1%”, notes the financial institution.
Prior to this strengthening, CGD's public guarantee allocation amounted to EUR 507.2 million, resulting from an initial allocation of EUR 257.2 million and a previous reinforcement of EUR 250 million.
On 31 August, the bank had already contracted EUR 412.5 million and had another EUR 23 million approved and in the formalisation phase.
The committed amount thus amounted to EUR 435.5 million, corresponding to 85.9% of the total allocation, leaving around EUR 71.7 million available.
According to the institution, the average recent consumption was around EUR 31.2 million per month, but the forecast for the last quarter was close to EUR 37.4 million per month due to the higher concentration of formalisations in this period.
Without reinforcement, CGD estimated that the available balance would be sufficient for less than two months of hiring, with the risk of exhaustion during the second half of October.
“ The reinforcement of EUR 95 million enables the operations already approved to accommodate, respond to the expected seasonal demand and ensure full implementation of the measure by the end of 2026”, he adds.
The bank further clarifies that this amount is intended “only for the current duration of the scheme and does not assume any renewal for 2027”.