La Poste Bank consolidate plans of development and sign new partnerships

La Poste Bank consolidates its plans of development and signed new partnerships
Patrick Werner, President of Board of Director of La Poste Bank (“La Banque Postale”) commented the situation of La Poste Bank regarding the economic crisis and the activities during the first semester 2007.
Financial Crisis
The good performance of assets management and the diversification of the portfolio allow La Poste bank to not be affected by the American sub prime market.
The commercial activity during the first semester of 2007, confirm the dynamism in the bank retail market.
This means a good performance of life insurance services, the mortgages and the increasing number of active clients in the bank.
La Post Bank set up partnership with the main players of the market:
– Mortages: La Poste Bank and Mamut decided to expand its partnership signed last 4 April 2007. After the success of the mortgages under this agreement, both companies launched last June a new range of mortgages in two more regions: Amiens and Rennes.
– In the money market, La Post Bank and the General Society Bank (“Société Générale”), one of the biggest and oldest bank in France”, are in negations to set up a partnership. Both groups are the most important players in the money market in France. Each company represent 11 pct of the total market of bank cards and each have around 5000 ATMs in all France.
– In assets management, La Poste Bank has two new projects of subsidiaries: the first is the structure management and the second is in partnership with Ofi Asset Management. These projects show the commitment of the bank to consolidate its position in asset management.
– Regarding the bank exclusion issue, la Post Bank and CMP Bank signed a commercial and financial agreement in order to increase the service to the small clients. The agreement was signed last 13 September 2007.
– In money transfer market, La Poste Bank is developing a project with Coripost Africa S.A., the services will include the networking of 25 African offices.
– In the area of Micro-credit, La Poste Bank, obtained last 30th May the approval of the Social Funds Institution (Fonds de Cohésion Sociale) for the access of its funds. La Poste Bank initiated these activities in the Poitou-Charentes region, but it will expand in other regions. It is estimated a total of 2300 mortgages during the next years.
Finally, ion order to improve the service La Poste Bank launched a new range of services:
– Primiel Stock Exchange plan, this service will allow the customer to invest in the stock exchange market
– OPCI (Real state organization), new service for investment in the real state market.
– Public Funds,
– New bank cards,
– After 10th September, La Bank Poste relaunched its statement reports, in content and shape, to facilitate the classification and storage, as well of easy understanding of the reports.