Tag: Europe

The commercial activity during the first semester of 2007, confirm the dynamism in the bank retail market. La Poste Bank has produced good results in life insurance services, mortgages and the increasing number of active clients in the bank. La Poste 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 a new range of mortgages in two more regions: Amiens and Rennes. – In the money market, La Poste 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 Poste Bank and CMP Bank signed a commercial and financial agreement in order to increase their service to the smaller clients. The agreement was signed on 13th 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 on 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.