This paper covers the characteristics of the banking sector in Portugal today, the main changes underway and future development prospects. Data is analysed relating to personnel in the Portuguese banking system, with specific reference to the importance of adopting properly articulated training strategies, focusing on the skill level and the quality of human resources in the context of change. The role of the Portuguese Banking Association is described and its higher education arm, the Instituto Superior de Gest„o Banc·ria (ISGB). Also outlined are the main reasons behind the choice of Distance Learning at the ISGB and a distance learning project at university level which has been in operation since 1991, namely the course in Banking Management, aimed at preparing specialists for managerial functions in the banking system.