Portugal’s largest bank celebrates 150 years with move to new HQ

Portugal’s largest bank, the State-owned Caixa Geral de Depósitos, which was founded in 1876, is to move to its new premises later this year.

The bank, which employs 2,500, currently is headquarted on Lisbon’s Avenida João XII in a building shared with several government ministries.

However, it will leave the leased premises and move to the WellBe building on Avenida Dom João II close to the city’s Parque das Nações (formerly the Expo 98 site).

The new building comprises two main blocks interconnected by a smaller block all covering 27,635 square metres, dominated by offices and some commercial spaces (1,240m2) at street level.

Surrounded by greenery, the building has 400 parking spaces and incorporates solutions designed for greater comfort and functionality for employees.

CGD closed the deal to acquire the property in February 2024 from Tage Une Fois – owned by the Atenor and Besix Real Estate Development groups – and its facilities will be spread over 11 floors.

The complex departs from the traditional office model and embraces a more dynamic approach in design.

Open space is predominant, although offices and small soundproofed rooms are planned. The project also includes social areas and leisure zones that encourage taking breaks and sharing ideas, reflecting a more flexible work culture focused on well-being.

The attention to detail also extends to mobility and sustainability: there will be bicycle parking, changing rooms, showers and lockers, promoting healthier routines.

The location was also strategically chosen. Situated in an area well served by public transport, WellBe reduces dependence on cars and simplifies the lives of employees, who were invited to participate in the decision-making process. The building was designed to be energy efficient (it will consume 30% less energy) and ensures accessibility for people with reduced mobility.

“In marking its 150th anniversary, Caixa begins a new stage with a slogan that reflects its ambition: ‘Focused on the Future’.

A Caixa that combines trust with innovation, invests in technology, simplifies processes, and seeks to be ever closer to its customers, whether in branches, digital channels, or new forms of interaction.

It will have more digital customers, but will maintain its network of branches in the country, complementing it with more and new corporate offices.

Central services will operate from Caixa Headquarters, which will be inaugurated later this year. It will reduce waiting times, improve its agility and customer service, with the use of AI, with more skilled employees (today, 82% of employees have a degree), and with a more personalised customer service,” said Paulo Macedo, Chairman of the Executive Committee of Caixa Geral de Depósitos, in a statement to the business news source Jornal Económico.

Source: Jornal Ecónomico; Credits: CGD