Before the revolution, private enterprise ownership dominated the Portuguese economy to a degree unmatched in other western European countries. Only a handful of wholly owned or majority owned state entities existed; these included the post office (CTT), two of three telecommunications companies (CTT and TLP), the armaments industry, and the ports, as well as the National Development Bank and Caixa Geral de Depósitos, the largest savings bank. The Portuguese government held minority interests in TAP, the national airline, in Siderurgia Nacional, the third telecommunications company Radio Marconi, and in oil refining and oil marketing firms. The railroads, two colonial banks (Banco de Angola and BNU), and the Bank of Portugal were majority privately owned but publicly administered. Finally, although privately owned, the tobacco companies were operated under government concessions.