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CTT admits the sale of the bank and considers "all possibilities"
CTT Chief Executive Officer Joao Bento said in a Bloomberg TV interview on Tuesday that the company is considering “all possibilities” for Banco CTT, including a full sale.
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Economia João Bento
According to the financial agency Bloomberg, although Banco CTT still has room to grow before a possible sale of shares, João Bento said that an eventual move would allow the company to focus on its main 'core' business, continuing to offer a wide range of 'online' services through its network of stores.
"We are considering all possibilities, even selling the bank in its entirety," said the manager, stating that there is nothing concrete in terms of a potential sale at this time.
"My preference would be for us to continue to be a minority shareholder in the bank, since it will operate in our network of stores," he added.
Banco CTT's accounting value amounted to 270 million euros at the end of last year. In 2022, CTT agreed to sell 8.7% of Banco CTT to the insurance company Tranquilidade - Generali Seguros.
The operation should be approved by the Bank of Portugal before the summer, said João Bento.
In the meantime, CTT is looking for potential purchase targets in Spain, at a time when Correios de Portugal is trying to take advantage of the 'boom' in 'online' shopping.
"We are looking for consolidation opportunities," said João Bento.
Read Also: CTT leader says AI will generate new job opportunities (Portuguese version)
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