Banco CTT foresees a capital increase in 2017
This will be the third capital increase since the bank’s was launched last year. According to Jornal de Negócios, the capital increase should happen during the first semester of 2017.
After nine months of work, Banco CTT (Portuguese Postal Services’ Bank) should move forward with a capital increase this year. The information is disclosed by the Portuguese newspaper Jornal de Negócios, who also say the operation should be taking place this semester.
The bank has had capital increases ever since it was first launched, in order to withstand the growth in assets. To be confirmed, it will be the third operation made by the financial institution since it started its activities in March, 2016. The first capital increase happened last May, in which CTT, the parent company, made a 26 million euros injection in the bank. Jornal de Negócios mentions the amount for the upcoming operation is still unknown, but, according to recently disclosed data, the capital for Banco CTT will increase to 85 million, being that the predicted investment should reach 170 million in 2020.
This information was disclosed one day after the announcement of the data concerning Banco CTT’s activities during its first nine months of existence: they were able to capture 250 million euros worth of deposits of the over 100 thousand clients the bank was able to attract during that period.
For 2017, Banco CTT also expects to launch new products, among which housing credit by the end of January.
