Romanian Posta Romana considers financial-banking services in next years

Romanian state-owned postal company Posta Romana plans to start offering financial-banking services in the next few years in a bid to expand its product portfolio, company’s general director Dan Mihai Toader said on April 19, 2005.

The company intends to sign partnerships to operate public telephony services, electronic services, e-learning, e-health, secure interconnections for banking system, money management and data storage, Toader added.

Posta Romana, with its 7,000 units countrywide, has already started offering some financial services such as micro credits, cash collection and cash management.

Posta Romana is the largest cash-collector in the country with a 15 trln Romanian lei ($540.3 mln/414.8 mln euro) monthly collected amount, Toader said.

(Editor’s note: Posta Romana has about two thirds of the local market and is trying to increase its niche of 10 pct in deliveries abroad. Its main foreign competitors operating in Romania include Deutsche Post’s DHL and Dutch TPG’s TNT.

Posta Romana is on the Government’s list for privatisation by end of 2006 ahead of country’s accession into the European Union, the Romanian News Digest said on April 12, 2005.)

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Source: Curierul National