Justifying the move: synergies with the banking sector – exploiting existing infrastructure and brand strength
The post office as a retail bank
A profitable practice? Reaping the benefits
Massimo Arrighetti, General Manager, Bancaposta Division, Poste Italiane
The state-owned Italian postal service is looking towards a bourse listing, but not in the short term, Communications Minister Maurizio Gasparri said on Monday. The post office has set its sites on an initial public share offer as it has succeded in narrowing a 1.4 billion euro ($1.23 billion) 1997 loss to about 100 million euros last year amid an effort to modernise its offices and offer more sophisticated banking services.
Read MoreEuropean Commissioners are to clear Italian aid of nearly 9 bln eur to Posta Italiana this afternoon, as well as 13 mln eur to the Irish post office, competition spokesman Michael Tscherny said.
The decisions are expected to be taken without debate, he said.
International Post Corporation (IPC) members maintained their high-quality delivery performance for international letters last year, despite disruptions to air transport and security alerts following the events of September 11.
During 2001, an average of 92 per cent of European air mail letters reached their final destination within three days of posting. According to quality of service monitoring results just released by IPC’s UNEX system, more Postal operators are now meeting EU targets on mail streams where few, or no direct transport links are available. During 2001, over three-quarters of the 306 country-to-country streams monitored by UNEX were achieving at least 85 per cent
of deliveries within three days, compared with just one-third in 1994 when monitoring began, and one half in 1997.
Description of the turnaround of the Italian Post Office.
Read More
Post & Parcel Magazine is our print publication, released 3 times a year. Packed with original content and thought-provoking features, Post & Parcel Magazine is a must-read for those who want the inside track on the industry.
