Spanish postal services team up with Deutsche Bank
The Spanish postal service Correos y Telegrafos signed an exclusive agreement with Deutsche Bank back in 1999, leading to the creation of Correos DB. The two groups now split the profits 50/50. In the last four years the two groups have acquired 145,000 customers and are now expanding their range of products and services, which now includes mortgages and credit cards, as well as pension funds and insurance policies.