CTT announced on Monday that it has been the commercial register of the acts on the establishment of the subsidiary Banco CTT, with a registered capital of 34 million euros.
In a statement sent to the Portuguese Securities Market Commission (CMVM), the Correios de Portugal submit that were also designated the respective governing bodies of the Bank CTT, known as Banco Postal.
With these procedures, CTT give another step towards the launch of the credit institution initiated after the approval of its constitution by the Bank of Portugal (BoP).
Francisco de Lacerda, president of CTT, is chairing Banco CTT and Luis Pereira Coutinho takes over the executive President of the new financial institution. From this date shall be applied to the Bank CTT the regime for credit institutions based in Portugal.
According to this scheme, investors intending to hold a qualifying holding in CTT (and thus indirectly the Bank CTT), less than 10% of the share capital or voting rights or who, for whatever reason, enables exercise significant influence over the management, previously must notify the Bank of Portugal (BoP) its draft for the purposes of non-opposition of this, refer to the Post Office of Portugal.
Speaking to Lusa, Francisco de Lacerda said that with the establishment of the Bank CTT is given “an important step” , stressing that the BoP approved the name, the statutes and statutory bodies. “We have a bank that operates in CTT shops, with a simple offer, close to the population with products and services with attractive conditions,” he added.
Now the next step is the bop confirm that the new financial institution has fulfilled the conditions to initiate activity and given a special registration grant.
Only after the special register the Bank CTT will start activity. “We continue to point to the last quarter,” said the manager, who appeared satisfied by the Post group Portugal has taken another step to offering financial products.
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