German Postbank Set to Expand Mobile Sales After BHW Takeover

Deutsche Postbank AG, the banking arm of German postal services group Deutsche Post AG, plans to increase the annual profit per customer in its mobile sales business after the takeover of German mortgage lender BHW Holding AG and its integration into Postbank, the banks CEO Wolfgang Klein said in an interview on July 18, 2006.

Currently, Postbank generates some 100 euro (125.2 USD) profit per mobile customer annually, while the old BHW business has an annual profit of some 300 euro (376 USD) per mobile customer.

Within three years we want to achieve the annual profit per customer of BHW for all two million of our mobile customers†, Klein said.

At present, Postbank employs a total 4,700 customer consultants, including the workforce of the old BHW business.

In the past BHW consultants were specialised mainly in construction financing, while Postbank consultants were focused on selling insurance policies and securities.

According to Klein, the BHW activities will be merged with the Postbank business as of September 2006.

BHW is a crucial factor in the Postbank story, the important drive in which will be given by the BHW consultants, working with of Postbanks customers, said Stuart Graham, an analyst with U. S. investment bank Merrill Lynch.