Deutsche Postbank may tie up with Japan postal bank
Deutsche Postbank AG could consider a tie-up in a wide variety of areas with the postal savings bank to be created in Japan next year, the Nihon Keizai Shimbun reportd, quoting chief executive Wulf von Schimmelmann.
The privatization of Japan Post’s operations is set to begin in October 2007.
Von Schimmelmann said in a interview with the business daily that Postbank would be eager to share its expertise with the Japanese postal savings bank in such areas as branch management, marketing, product lineup and risk management.
Referring to a plan to take the postal savings bank public in 2011, von Schimmelmann said a cross-shareholding relationship between their banks might be a useful arrangement.
He said Postbank does not have an interest in holding a majority stake, but might consider owning some shares if the Japanese bank desires.
(1 usd = 119.05 yen)
