Swiss Post’s PostFinance unit achieves record customer growth

Swiss Post has said 100,000 new customers joined its financial services division, PostFinance, in the first nine months of this year. The company said there was a high level of customer confidence in its banking unit, with the customer growth higher than ever for the first three quarters of a year.

PostFinance now holds CHR 103bn in assets for its 2.9m customers, CHR 10.6bn more than it did last year. The company managed 4.5m accounts, about 200,000 more than at the end of 2011.

Profits at PostFinance have been CHR 499bn in the first three quarters of the year, up 7.8% on the same period last year.

The increased profit was achieved despite interest levels in the capital markets remaining at a historic low level.

The buoyant results come as Swiss Post is preparing to turn its banking division into a separate public company, supervised by the Swiss Financial Market Supervisory Authority (FINMA). PostFinance will continue to be owned by Swiss Post, however.

FINMA is expected to issue a banking license for PostFinance at the end of this year.

Earlier this month the PostFinance Ltd board of directors was elected, to be chaired by Prof Dr Rolf Watter.

Swiss Post said under its new status as a public company, PostFinance will “remain true” to its business model and focus on the core business of payments and savings. Even with a banking license, Swiss Post said PostFinance will still be unable to issue its own loans and mortgages.

Swiss Post’s latest quarterly result will be published at the end of November.

Relevant Directory Listings

Listing image

SwipBox

Focus on the user experience SwipBox is focused on creating the world’s best user experience for delivering and picking up parcels using parcel lockers. Through a combination of intuitive network management software and hassle-free, app-operated parcel lockers, SwipBox delivers maximum convenience to logistics providers, retailers […]

Find out more

Other Directory Listings

Advertisement

Advertisement

Advertisement

P&P Poll

Loading

What’s the future of the postal USO?

Thank you for voting
You have already voted on this poll!
Please select an option!



MER Magazine


The Mail & Express Review (MER) Magazine is our quarterly print publication. Packed with original content and thought-provoking features, MER is a must-read for those who want the inside track on the industry.

 

News Archive

Pin It on Pinterest

Share This