The new bank in the Austrian post office: P.S.K. turns into PSK BANK

P.S.K. has now assumed a new role as a separate brand within the context of the new positioning of BAWAG P.S.K. The new addition to the company name, using the word “Bank”, underlines the core competence of PSK Bank in the banking business. As a result, PSK Bank has become “the bank in the post office“, offering a maximum level of comfort and ease of use to private customers.

In order to more effectively fulfill customer demands, the PSK BANK has set new priorities for its future operations, which will be supported by its business strategy, a new logo, newly designed branch offices and innovative products. The clear-cut strategic goal of the new BAWAG PSK in Austria is to concentrate on business with private customers.

PSK BANK stands for trust, integrity and reliability, providing active customer service and support. The convenient, nationwide network of post offices provides intelligent products and services as the response to growing customer demands.

Due to its extensive network of branch offices, Austrian Post represents one of the most important distribution channels for the banking products provided by BAWAG PSK. As a result of the new positioning of PSK BANK, the sale of banking products is being expanded to become a core competency of the post offices. “The distribution of financial products and services comprises 25 pct of total revenues achieved in our branches, thus contributing to the successful business development of our branch network. In the upcoming years, we are striving for a solid growth path of 7 pct – 7.5 pct”, says Herbert Götz, Member of the Management Board of Austrian Post with responsibility for its Branch Network Division.

Enhancement of consulting competence
The level of consulting competence in the post offices will be expanded by mg additional financial consultants available for customer services, as well as by expanding the professional training and continuing education of employees in the banking segment. By the end of 2007, the total number of financial consultants will rise from 150 to 650. In Vienna alone, an additional 50 financial advisors will provide advisory services on financial products. In rural areas, a total of 100 mobile consultants will each be responsible for supporting several smaller-sized post offices simultaneously in providing high quality banking products and services. Moreover, approximately 200 service centers will be established and successively modernised.