Deutsche Post faces competition from cooperative banks
German cooperative banking group Volksbanken and Raiffeisenbanken plan to enter the German mail market in cooperation with logistics company Paketeria, Financial Times Deutschland reported.
It said a Volksbank branch in Celle, near Hannover, will start a pilot project in May with Paketeria. The company will forward mail to parcel company GLS and letter-carriers TNT NV and Pin Group, it said.
TNT is the main rival of German mail incumbent Deutsche Post World Net AG.
‘We would like to fill the gap Deutsche Post has left with its branch closures,’ Alexander Ruckdaeschel, head of Paketeria’s supervisory board was quoted as saying.
The banks operate 14,000 retail outlets, which would compete with Deutsche Post’s 8,850 outlets, the report said.
German cooperative banking group Volksbanken and Raiffeisenbanken plan to enter the German mail market in cooperation with logistics company Paketeria, Financial Times Deutschland reported.
It said a Volksbank branch in Celle, near Hannover, will start a pilot project in May with Paketeria. The company will forward mail to parcel company GLS and letter-carriers TNT NV and Pin Group, it said.
TNT is the main rival of German mail incumbent Deutsche Post World Net AG.
‘We would like to fill the gap Deutsche Post has left with its branch closures,’ Alexander Ruckdaeschel, head of Paketeria’s supervisory board was quoted as saying.
The banks operate 14,000 retail outlets, which would compete with Deutsche Post’s 8,850 outlets, the report said.
