O Banco Popular Português do Porto

Abstract

In the midst of the First World War, an entrepreneur in Porto decided to create a new bank, a different bank that should fill in a void in the Portuguese financing system, a popular bank. Emulating what was being done in Central Europe this popular bank had one great objective: to lend money to those who normally couldn't afford to borrow money. Unfortunately, the good intentions of those investors went up in smoke when they realized that such good intention weren't profitable nor could they be able to keep the bank running. Quickly did this popular bank became a commercial bank like so many others that were operating in the Portuguese market at the time. After a promising start, the bank suddenly went through some hardships, due to the crisis of the 1920's and to bad investments, and eventually was shut down, after eleven years of activity.