Postal banks put their stamp on financial services market
Germany’s Deutsche Post is the centre of attention with the initial public offering (IPO) of 50 percent of its subsidiary Postbank–and subsequent possible acquisition by Deutsche Bank–due to take place in June. However, there have been changes afoot in other countries, with some postal services continuing to make major inroads into their countries’ financial services markets.
“The postal systems around the world are dinosaurs, but there’s a lot of potential there,” says Stuart Castledine, a partner with Calleva, a consultancy advising a number of postal banks on the development of their banking services. “Postal administrations are not new kids on the block. Many of them have been going for 150 years.
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