Portugal to get a “people’s bank”

Portugal is to get a “people’s bank”, with “attractive products and services” sold over the counter at the Post Office. The CTT Bank is awaiting final approval from the Bank of Portugal before it can start operating. For now, it has been commercially registered with a share capital of €34 million. CTT president Francisco de Lacerda has said the bank hopes to be up and running by the end of this year.