Volume 2, issue 7 30.072006

INTERNATIONAL COMMISSION FOR POSTAL & BUSINESS /ICPFSB/ Post € Fin - Newsletter / Special Issue

Special points of PostFinance reports encouraging growth interest: 28 July, 2006 - [Press Re- • Ghana: “Financial lease] services as a central “PostFinance continued to component for the grow in the first half of survival of postal 2006. The inflow of new services” money amounted to 2.35 billion francs, almost 400 • Germany: “Postbank million francs above the expects to generate a year-back period. Cus- further significant tomer deposits have risen increase in average to 39.8 billion francs. In earnings per cus- parallel, the number of accounts increased to tomer through the 61,000 in the first six new sales outlet” months of the year. PostFi- nance also posted strong creased by 119 positions, and a consulting • Switzerland: growth for mortgages (+16.2 further 20 positions are budg- “PostFinance to %), an increase of 234 million eted for by the end of 2006. PostFinance is and remains launch video francs. The average headcount innovative and will be the first consulting” has risen by 119 since Janu- Yellownet is growing in financial institution in Swit- ary, compared with the year- popularity zerland to offer financial ad- back period. Following suc- vice by video . A pilot test cessful tests, PostFinance is to In 1998, PostFinance became conducted from October 2005 Inside this issue: intro-duce financial advice by the first financial institution to to March 2006 at post offices video link to reinforce sales. introduce an e-finance solu- in western Switzerland has tion (yellownet) for electronic produced important findings Investments in growth are account management in 1998: for the rollout. PostFinance Bancpost is opening five new agencies in paying off for PostFinance. an innovation that has paid will install both video and Constanta in a single 2 The financial arm of Swiss off. The number of yellownet telephone consulting facilities day Post again increased the in- customers had increased to at suitable post offices in the flow of new money and cus- 713,600 by the end of June, course of the next year. This is Postbank Offers ATM tomer deposits in the first six corresponding to 42,000 new part of its previously an- Payment with EuroLine, months of the year. In paral- customers since the end of nounced plan to reinforce its and 3 lel, the number of customer VISA Cards 2005. Each month, 7,000 new presence at 600 post offices. accounts rose by 61,000 to customers register for yel- The choice of locations will be Correos aims to launch 3.07 million. to private lownet, enabling PostFinance made by PostFinance and Post BanCorreos before the 4 and business customers per- to further expand its position Offices & Sales in the next few summer.” formed well. Mortgage vol- as the clear number one in e- months. In this way, PostFi- Portuguese postal ser- umes rose by 234 million finance. The trend towards nance will combine its finan- vice looks for partner in francs in the first half, corre- 7 electronic payments is con- cial expertise with high cus- Angola to implement sponding to an increase of tinuing. In the period from tomer traffic volumes at the Payshop system 16.2 %. Overall, loans went up 1999 to 2005, the number of post offices, thus strengthen- by 367 million. PostFinance’s Mongolia's XacBank 10 transfers via yellownet went ing sales. “ joins Eurogiro network growth has had a positive ef- up from 224.4 to 329 million fect on the human resources (+46.6 %). Ghana Post to Diversify 12 situation. Since January, the Pilot test concluded: Post- Services average headcount has in- Finance to launch video Volume 2, issue 7

Bancpost inaugurates its new “Plata Victoriei” agency in Bucharest

27 July, 2006 - [Press Re- tal city not less than seven Hunedoara Street, Bloc lease] new units in July. Thus, the H4-H5, entrance 1-2, sec- Bank?s operating network in tor 1, which is the 164th “Bancpost is ”Bancpost is consistently fol- the Bucharest region will unit of Bancpost. consistently lowing its policy of rapid grow to 39 units. expansion and modernisa- The other newly opened or following its policy tion of its territorial network, In such a highly dynamic almost ready-to-open units of rapid expansion the Bucharest one in particu- context, on Thursday, July are located in several densely and modernisation lar. After it inaugurated five 27th, the formal cere- populated areas of Bucha- of its territorial new units in just one day in mony will take place for rest, such as in Iuliu Maniu, Constanţa at the beginning of the opening of the new Nicolae Titulescu, Ion Miha- network” July, the Bank is now on the "Piata Victoriei" Agency lache, Lacul Tei avenues as verge of opening in the capi- located in 6, Iancu de well as in şoseaua Colentina

Bancpost is opening five new agencies in Constanta in a single day

13 July, 2006 - [Press Re- been opened today provide cies is part of the policy of lease] an entire range of banking Eurobank EFG, the Bancpost operations for the general majority shareholder, tar- ”As of today, Bancpost has public: current accounts, geted to modernize the five more agencies in Con- bank deposits, RON and for- Bancpost units by removing “The new units stanta. Thus, the operational eign currency loans, debit the closed teller counters, by provide access to the network of the bank consists and credit cards, foreign ex- organizing the space as an bank products and of 6 units situated in the city change, payment of bills, open platform, providing from the Black Sea coast. savings instruments, etc. room for the officers special- services for a larger izing in client services and for number of clients. The five new agencies are Furthermore, the agencies the tellers, and by imple- Bancpost currently located as follows: the Dacia have ATMs provided with menting the new corporate owns 160 Agency, at 235 Tomis Blvd, POS terminals, which accept identity. The "Casa de Cultura" all types of electronic reading operational units, Agency, at 43 "1 Decembrie cards, such as VISA, , The new units provide access distributed through- 1918" Blvd., "Nicolae Iorga" MasterCard and AMEX. to the bank products and out the entire Agency at no. 146 Tomis services for a larger number territory of the Blvd., Soveja Agency, at no. The working hours of the of clients. Bancpost currently 281 Tomis Blvd., and the new units are Monday to owns 160 operational units, country” Tomis Agency, at no. 97 Friday, between 09:00 and distributed throughout the Tomis Blvd. 17:00. entire territory of the coun- try.” All the agencies which have The opening of the new agen-

Eurobank EFG to acquire in Ukraine

24 July, 2006 - [Press work of 32 branches with ca. mercial banking products, Release] 480 employees. At the end of including consumer and auto 2005 Universal Bank had loans, mortgages, deposits, “Eurobank EFG has reached Shareholders’ Equity of USD credit cards, money transfer “Eurobank EFG has an agreement with private 16.5 million and Total Assets and currency services, retail reached an shareholders of Universal of USD 79 million under brokerage, insurance and Bank in Ukraine to acquire IFRS. The Bank is affiliated investment products, as well agreement with pri- shares representing 99.34% to the Universal Investment as trade and working capital vate shareholders of of the bank’ s share capital. Group, active in insurance, finance, factoring, term fi- Universal Bank in Universal Bank is a medium- retail fuel distribution, in the nancing and custodian ser- Ukraine to acquire sized bank based in Lviv and food sector and in construc- vices to institutional inves- focused on Western Ukraine tion & . tors. shares representing and Kiev operating a net- Universal Bank employs a Eurobank EFG considers that 99.34% of the bank’ Page 2 variety of distribution chan- Ukraine, with a population of s share capital” nels and offers a wide range ca. 47 million, will experience of and com- high rates of economic Volume 2, issue 7

Eurobank EFG to acquire Universal Bank in Ukraine (cont.) growth in the medium-term. tionwide coverage, building a Europe. Furthermore, this The very low penetration leading bank in the Ukrain- transaction is in line with rates of banking products ian market. Eurobank EFG’s practice of “This transaction is and especially of household The acquisition of Uni- entering new countries with in line with lending point to a very sig- versal Bank in Ukraine selective investments, aiming Eurobank EFG’s nificant growth potential for follows the roll out of a to create shareholder value practice of entering the country’s banking system, branch network in Po- through organic growth which is already experienc- land and the acquisition achieved via offering supe- new countries with ing one of the fastest growth of Tekfenbank in Turkey rior quality of service. selective rates in Eastern Europe. earlier this year and is con- Closing of the transaction, is investments, aiming Eurobank EFG believes that sistent with the announced subject to regulatory approv- to create the acquisition of Universal strategy of Eurobank EFG als in Ukraine, and Bank allows it to enter this group to expand its activities Switzerland, and is expected shareholder value” attractive market and ex- in the most important mar- to occur in the fourth quarter pand to achieve strong na- kets of Southern and Eastern of 2006.”

Postbank Improves the Terms on the Fast Consumer Loans The Consumer Repayment Period Is Extended from 5 to 10 Years

19 July, 2006 - [Press Re- 10.5% for the first year. There a fast consumer loan, Post- lease] is an option to draw a credit bank customers are issued a with or without guarantors, VISA electron “Fast Loan by ”Since 19th of July Post- the financial institution an- without an annual fee for the Postbank is granted bank extended the Fast nounced. The amount of the first year. The application within a day. It is consumer loan repay- loan is up to BGN 10 000. procedure is fast and simpli- offered at all ment term from 5 to 10 The interest for the remain- fied. Fast Loan by Postbank years. The repayment ing repayment period is granted within a day. It is Postbank branches period for the Fast loans on loans without guaran- offered at all Postbank and offices around without guarantors re- tors is also promotional – 1% branches and offices around the country, as well mains 5 years. lower than the standard one. the country, as well as at the as at the offices of Presently, the Fast consumer Together with the improved offices of BRS and Open 24.” loan is offered also at a pro- terms and the promotional BRS and Open 24 “ motional interest rate of interest rates, upon receiving

Postbank Opened Two New Branches in and Samokov in Two Days The Bank Offers Special Discounts for the Customers of the New Locations

13 July, 2006 - [Press Re- nancial institution for both membership. Small business lease] corporate clients and retail loans up to BGN 30 000 re- customers - house loans, ceive fast approval with- ““Postbank opened two credit cards, overdraft, de- out collateral and without “Customers can take new branches in Sofia posits, e-banking, fast money application fee. advantage of and Samokov in two transactions, small business high-interest saving days. The inaugurations of Customers can take ad- loans, etc. accounts with the two locations took place vantage of high-interest on Tuesday and Wednesday Customers of the new loca- saving accounts with Postbank’s flexible in the presence of local busi- tions can benefit from special Postbank’s flexible de- deposit programs ness representatives and po- promotions. The fast loan is posit programs such as such as Active litical figures, clients and offered without an applica- Active Money and of new Money and of new managers of the Bank. tion fee. VISA Electron, VISA higher interests on Euro Classic and EuroLine credit “ higher interests on The two branches offer the cards are freed from annual Euro “ full product range of the fi- fee for the first year and American Express is offered Page 3 with 6-month free of charge Volume 2, issue 7

Postbank Offers ATM Payment with EuroLine, American Express and VISA Credit Cards Cardholders Pay Their Bills and Fees for Utility, Cable and Mobile Services via ATMs around the Country

10 July, 2006 - [Press Re- for all holders of Eu- chant to identify him/her in lease] roLine, American Ex- the information system. press and VISA credit About their personal number ”Since the beginning of July cards, issued by Post- customers can refer to the “Since the beginning 2006, Postbank has launched bank. To make a payment, a monthly bill or to the mer- of July 2006, ATM payment with Eu- customer needs an individual chant they want to pay to. Postbank has roLine, American Express 5-figure number of the mer- After entering all the neces- launched ATM and VISA credit cards. Card- chant and a personal num- sary data, the ATM screen holders can pay their bills ber. A list of the numbers of displays some additional payment with and fees for utility, cable and all merchants subscribed for information about the mer- EuroLine, American mobile services via all ATMs B-Pay is available at chant: name of the merchant, Express and VISA around the country. The new www.epay.bg. The B-Pay description of the payment, credit cards” B-Pay service is an easy and service is chosen from amount. The payment is con- convenient means for repay- “Other Services” from the firmed by pressing the ment of monthly dues at any ATM menu. Then the cus- “Payment” button.” time. tomer’s personal number is The new service is valid entered, which helps the mer-

Eurobank EFG and Postbank express their long-term commitment for investments to support growth in , at the threshold of EU membership

06 July, 2006 - [Press garia, Romania and Greece the synergies and expertise Release] that took place in for Eurobank EFG we can gathered key ministers of the handle just about everything: “The Bulgarian banking sec- three countries, representa- retail financing, investment, tor is very well prepared for tives of major business sec- treasury, capital markets, Bulgaria’s EU membership, tors and the senior manage- brokerage, leasing, factoring, while Postbank and its major ment of the Greek Eurobank consultancy services and shareholder, Greece’s Euro- EFG, and its subsidiaries project financing”, he said. bank EFG, are committed to Postbank and Bancpost in “Postbank’s high investment increase investments to boost Bulgaria and Romania re- rating demonstrates the sta- growth and economic devel- spectively. Political and busi- bility of the bank and its opment in the country. ness leaders from the three place among the most credi- “The Greek Eurobank EFG is countries reviewed the mac- ble and progressive financial a major investor in Bulgaria, roeconomic and banking institutions in Bulgaria”. as well as in Romania. We outlook for Bulgaria and “The Bulgarian are committed to keep in- Romania, as well as invest- In 2005 the total assets of creasing investments and ment opportunities of the Postbank rose by 47% to 1.71 banking sector is transferring expertise and wider Balkan region. billion BGN – a growth very well prepared know-how to further develop driven by rising net lending for Bulgaria’s EU our subsidiary banks in Bul- Mr. Anthony Hassiotis, CEO volumes - up by 60% to 1.17 garia and Romania. There of , billion BGN. In all lines of membership, while are bright prospects for both talked about the promising business the growth was Postbank and its countries and we take part in future for the country’s devel- higher than the market aver- major shareholder, bettering the economic cli- opment in terms of invest- ages – consumer lending Greece’s Eurobank mate and the growth poten- ments opportunities, stress- increased by 131%, mort- tial in the area”, Mr. Nikolaos ing the importance for for- gages by 242% and business EFG, are committed Nanopoulos, CEO of Euro- eign investors to choose a lending – by 22%. The bank to increase bank EFG said during an local partner with a strategic has been continuously invest- investments to boost international conference held view and a diversified portfo- ing in branch network, tech- growth and in Athens. lio of services. nologies and human capital. “Bulgarian Postbank is The specialized divisions – economic The two-day Business and uniquely positioned to help Corporate Banking and In- development in the Investment Summit of Bul- any and all types of inter- vestment Banking, together country “ Page 4 ested parties that want to do with the sister companies business in Bulgaria. We are EFG Leasing and EFG Fac- a major local bank, utilizing tors contribute to the Post- Volume 2, issue 7

Eurobank EFG and Postbank express their long-term commitment for investments to support growth in Bulgaria, at the threshold of EU membership bank’s advantages while con- level of services, its heavy Europe, and runs a dis- sulting investments in large- investment in modern tech- tribution network of over “Eurobank EFG scale projects. Eurobank EFG nologies and its professional 900 branches and alter- is the second largest bank in and dynamic management native distribution chan- offers a Greece with assets of around and personnel. nels. In the last years, comprehensive € 45 billion. Founded in 1990, Eurobank EFG offers a com- the Bank has launched array of banking Eurobank EFG has received prehensive array of successful operations in products and high marks from the most banking products and Bulgaria, Romania, Ser- reputable international rat- services for individuals, bia, Turkey and Poland.” services for ing agencies (Standard & corporations and institu- individuals, Poor’s, Fitch and Moody’s), tions. It employs more corporations and not only for its financial than 17,000 people in institutions” strength, but also, for the Greece and many coun- Group’s client focus, high tries in the region of new

Česká pošta adapts to Czech consumer lifestyle

17 July, 2006 - [Press Re- spending more and more strategy. A year ago, the lease] time in modern shopping company opened the first malls. The opening hours of post office branch in a ”Czech postal service opera- the ČP outlets would typically smaller-format Tesco hyper- tor Česká pošta (ČP) is in correspond with those of the market in Partizánske, west talks with the country’s retail particular hypermarket, he Slovakia. After the first outlet chains on expanding its net- said. Among proved to be a huge success, work of outlets in hypermar- the sites that Česká pošta is SP has added more outlets in kets, the daily Hospodářské considering for its network hypermarkets, the company’s noviny reported. But the ne- expansion are hypermarkets representative said. “Czech postal gotiations won’t be closed operated by retailers Tesco ČP is at the same time at- service operator any time soon. Stores ČR, Ahold Czech Re- tracting customers by intro- Česká pošta (ČP) is “It’s complicated to set up a public and Kaufland Česká ducing new services as of in talks with the new outlet because Česká republika. ČP has analyzed next month, such as delivery pošta requires a certain the market and will replace of postcards created from country’s retail amount space for its opera- only the inessential and un- MMS. Customers who take a chains on expanding tion to handle and store profitable operations with digital photo with a mobile its network of packages, for example,” said outlets in hypermarkets, phone supporting MMS can outlets in ČP spokesman Ivo Mravinac. which are expected to show e-mail the picture along with The minimum space re- greater profits, Mravinac text to ČP, which promises to hypermarkets” quired, he added, is about explained. The retailers could process the order overnight 120 square meters. in turn benefit from an in- for Kč 30 (€ 1.05) and send a ČP currently operates outlets creased inflow of customers, paper postcard to a desired in 12 hypermarkets through- he said. Most recently, ČP postal address the following out the country, in addition opened an outlet this spring day. Mobile operator Telefo- to two located in business in České Budějovice, South nica O2 Czech Republic cur- centers. Mravinac said that Bohemia. In neighboring rently offers a similar ser- the company has simply Slovakia, local postal service vice.” followed the trend of its operator Slovenská pošta customers, who are (SP) has applied a similar

PostFinance joins forces with Good News

20 July, 2006 - [Press nance. Starting on 1 signed a contract that Release] January 2007, PostFi- will run for four years. nance will be the princi- In future, PostFinance “Good News from PostFi- pal sponsor of Good customers will be able to News, the biggest concert use the PostFinance organizer in Switzer- Ticket service to book Page 5 land. Both parties have tickets for Good News Volume 2, issue 7

PostFinance joins forces with Good News (cont.) events directly onto their an electronic admission services provider supports a Postcard. The two par- ticket. In future, custom- range of musical offerings. ties have agreed not to ers will be able to book These include sponsoring the disclose details of the event tickets online for biggest rock and pop music financial terms of the Good News concerts di- festivals as well as the PostFi- deal. rectly onto their Post- nance Classics. “Postcard is set to card. Payment will be become an The cooperation with Good With its ongoing support for made via their PostFi- electronic admission News Productions AG, which nance Yellow Account. the Swiss Youth Symphony organizes over 80 events Orchestra since the begin- ticket. In future, each year, making it the larg- Customers can then gain ning of 2006, PostFinance is customers will be est events organizer in Swit- entry to a whole range of continuing its policy of pro- able to book event zerland, will enable 2.2 mil- sporting and cultural events moting young talent, which it tickets online for lion PostFinance customers using their Postcard Ticket. has pursued in the fields of to benefit from attractive The Postcard Ticket is set for sport and business for many Good News concerts special conditions. the customers when desired. years. “ directly onto their New customers can request Postcard. Payment For example, they will re- the new service during the will be made via ceive discounts for events, opening of an account. benefit from preferential con- their PostFinance ditions on advance ticket PostFinance believes in Yellow Account” sales and gain admission to music exclusive concert seats. They By entering into this commit- can also order their tickets ment with Good News Pro- conveniently from home. ductions AG, PostFinance is Postcard will become a systematically pursuing its concert ticket sponsorship strategy. In the Postcard is set to become cultural field, the financial

From Peru to Namibia: Post Office® extends exotic currency offering

18 July, 2006 - [Press Re- change provider in the Office® branch the next lease] UK, The Post Office® day. now offers customers a ”Holidaymakers are choice of 78 currencies - swapping Spain for the one of the widest ranges Ends Seychelles with more of holiday money on the For further information than one in three (35 per high street. please contact: cent) travelling to an ex- Cohn & Wolfe otic destination last Holidaymakers can buy Joanna Agnew year . their foreign currency 020 7331 5466 commission-free from Jo- And to meet this growing the Post Office® in four [email protected]. ”Holidaymakers are desire for exotic travel easy ways: com swapping Spain for the Post Office® is add- Michelle Curley the Seychelles with 020 7331 5389 ing six new currencies to . Buy on the spot at one more than one in its range: of over 2,300 ‘on de- Mi- mand’ Post Office® [email protected]. three (35 per cent) branches com travelling to an • Costa Rica Colones . Order before 2pm at Post Office Limited exotic destination • Guatemala Quetz Hayley Fowell any 14,300 Post Office® last year “ • Namibia Dollar branches and collect 020 7320 7440 • Peru Nuevo your money the next day [email protected] • Seychelle Rupee . Call 08458 500 900 be- k • Uruguay Peso fore 2pm and collect your money the next day As the largest bureau de . Online at www.postoffice.co.uk www.postoffice.co.uk for Page 6 collection at any Post Volume 2, issue 7

Portuguese postal service looks for partner in Angola to implement Payshop system

05 July, 2006 - “We sell technologies and we transactions per month on [macauhub.com] want to take part with local average, and contributed 1.8 partners or investors, as we million euros to CTT’s net “CTT Correios de Portu- sell the name, the brand and result. gal, the Portuguese state the technical support,” said “Payshop was postal company, is look- Estanislau Mata Costa. Payshop was bought bought three years ing for a partner in An- three years ago by the ago by the CTT gola to implement its The service is currently CTT group, which is con- Payshop service, which on the brink of being trolled by the Portuguese group, which is makes it possible to pay launched in Romania state and is the Portu- controlled by the bills in stores. and other investment guese postal market Portuguese state opportunities in Eastern leader. “ and is the Portu- Speaking to Portuguese Europe are being ana- financial daily, Jornal de lyzed, said Mata Costa. guese postal market Negócios in Lisbon, CTT’s leader” financial director said In Portugal, the service is that the company was currently available in available to take a stake over 2,500 points of sale in Angola’s Payshop, but and the aim is to increase that its main interest that number to 3,000 by was to export the service the end of the year. and the technology, which has been well- Last year, the Payshop sys- received in Portugal. tem processed 3 million

Postbank continues expansion in first half-year Pre-tax profit increases to €429 million

28 July, 2006 - [Press even though the efficiency The allowance for losses Release] and qualification drive at on loans and advances BHW and Branches ties up increased slightly by 8.4% to “Deutsche Postbank AG re- resources. €155 million, in line with mains on growth track. It credit volume growth. increased its pre-tax profit Total income increased by before taxes by 20.8% to 6.0% to over €2.0 billion, Postbank was very satisfied “Deutsche Postbank €429 million (the compara- pushing over the €2 billion with the development of ad- AG remains on tive figures for the first half- barrier in a half-year period ministrative expenses. year of 2005 are pro-forma for the first time. In the proc- Despite charges from the growth track. data including BHW and ess, the balance-sheet re- integration and steadily It increased its Branches). The cost-income lated revenues, i.e. the to- growing customer business, pre-tax profit before ratio improved from 75.6% to tal of net interest income, net it managed to reduce its costs taxes by 20.8% to 70.6%. In the classical bank- trading income and net in- by 0.9% to €1.4 billion. In ing business, i.e. without come from investment securi- doing so, initial cost syner- €429 million (the Transaction Banking, the ties – improved strongly, by gies from the integration comparative figures ratio was bettered from 8.4% to €1.3 billion. On the with BHW were achieved. for the first 74.2% to as low as 69.0%. back of good development in With steadily increasing in- half-year of 2005 Return on equity before taxes customer business, net in- come, a high level of cost con- increased from 14.7% to terest income increased sciousness is increasingly are pro-forma data 16.9%. 6.8% to €1.1 billion. Net in- becoming the second engine including BHW and come from investment of profits growth in the Post- Branches)” Despite the charges from securities rose 18.5% to bank Group. integrating BHW and €128 million, while net Branches, Postbank success- trading income rose 13.1% Net other operating in- fully expanded its business. to €121 million. come and expenses at €-4 As a result of its sustained million were €40 million cost culture, it reduced its Net fee and commission lower than the previous year administrative expenses, income improved by 1.7% to figure. However, other ex- €703 million in the first six penses include integration Page 7 months of 2006. costs of €34 million. Volume 2, issue 7

Postbank continues expansion in first half-year (cont.) Pre-tax profit increases to €429 million

Total assets increased by ings accounts, increased to Sales should provide the €2.8 billion to €183.1 billion €59.5 billion after €59.2 bil- necessary impetus. compared with December 31, lion as at June 30. 2005. A 2005. total of €1.3 billion was in- Growing credit business vested in the new product reduces deposits over- Pleasing customer Quartalssparen, 55% of this hang growth and new business being new money. €6.0 bil- Overall new business with Even though in the second lion was invested in our DAX mortgage lending improved quarter of 2006 Postbank Sparbuch and €4.1 billion in by 8.6% to €6.3 billion. Here continued to push the inte- the SparCard Direkt. the DSL and Postbank brands “Postbank makes no gration of its new units ener- contributed €3.8 billion and getically, including the new Excellent growth with the BHW brand €2.5 billion. changes to its qualification drive, it man- life assurance Furthermore, Postbank ac- objectives for 2008. aged to make further pro- As a result of the higher sub- quired mortgage portfolios of By this time, it gress in gaining new custom- sidies for the Riester Pension €2.0 billion with BHW cus- wants to achieve a ers. In the second quarter of this year, there has been an tomers. For consumer lend- 2006, the Postbank Group excellent development in the ing new business improved return on equity gained 222,000 new custom- life assurance business. In the by 25.5% to €610 million. The before taxes figure ers, making a total of first half-year of 2006, new installment portfolio of more than 20% 467,200 new customers in contracts totaling €1.6 billion rose correspondingly by and a cost-income the first half-year. In a mar- were concluded, an increase 10.5% to €2.1 billion. Post- ket comparison, this is an of 76% against the previous bank makes no changes to its ratio under 63%.” outstanding result. The num- year. objectives for 2008. By this ber of new private checking time, it wants to achieve a accounts in the first six Postbank expects to return on equity before taxes months was 218,800 after maintain this increased figure of more than 20% and 239,000 in the previous year. level, and even to im- a cost-income ratio under Savings volume, including prove on it. The new 63%.” deposits on mortgage sav- Branches and Mobile

Postbank launches mobile sales service Postbank and BHW merge sales operations

17 July, 2006 - [Press Re- offering focusing on mort- Wolfgang Klein, is also the lease] gage lending, home savings, member of Postbank’s Man- funds, insurance services agement Board responsible “The new sales channel along with checking accounts for Retail Banking. Gerhard will be used to round off and private loans. In addi- Borchers, Guido Lohmann the Company’s over-the- tion to products of the Post- and Dr. Andreas Wohllebe counter sales network, bank Group, the company also serve on the committee. “The new sales which comprises 850 will offer the best third-party channel will be used Postbank office branches offerings in a “Best-Select” Significant increase in along with Deutsche Post category. The BHW brand earnings per customer to round off the branches. The new com- covers the product fields of expected Company’s pany combines the BHW home savings, mortgage fi- Wolfgang Klein is convinced over-the-counter Group’s field service, Postbank’s new financial nancing and real estate bro- sales network, consisting of around kerage. advisory service will be a 4,200 financial advisors, success: “We are combining which comprises and the 500 advisors em- The financial sales or- Postbank’s enormous cus- 850 Postbank office ployed in Postbank’s in- ganization is represented tomer pool with the advisory branches along with vestment advice services. throughout Germany in expertise of the mobile sales Deutsche Post A further 100 mortgage more than 800 service team. This will result in ma- advisors are also em- centers, which have also jor benefits for customers, branches. “ ployed. been transferred from advisors and the Company BHW Bausparkasse to itself.” Postbank currently Postbank’s specialist finan- the new company. Post- has 14.5 million customers. cial advisors offer their cus- bank Finanzberatung AG The financial advisors tomers an end-to-end service is headquartered in will now be able to focus Bonn. The Chairman of the significantly more Page 8 Management Board, Dr. strongly on providing Volume 2, issue 7

Postbank launches mobile sales service (cont.) Postbank and BHW merge sales operations support and advice, as tomers an additional, Postbank is thus the first they will have to invest totally new form of ac- retail customer bank in less in new customer ac- cess to our products. Germany to operate this quisitions than other mo- kind of large-scale, inter- “Postbank is thus bile sales operators. And for the first time we nal mobile sales struc- the first retail can also offer our advi- ture.” customer bank in Postbank expects to gen- sory services at home. Germany to operate erate a further signifi- cant increase in average In light of the variety of this kind of earnings per customer pensions products and large-scale, internal through the new sales the disclosure require- mobile sales outlet and the reinforce- ments relating to such structure.” ment of its product port- products, this is becom- folio. Wolfgang Klein: ing increasingly desir- “We can now offer cus- able.”

Postal Regulation Under Discussion at UPU

03 July, 2006 - [Press over the next few years. country in question. Release] Four round tables on In all cases, however, the “Government officials, various aspects of regu- regulator must organize regulatory authorities, lation formed the centre- and structure the mar- “the regulator must postal operators, postal piece of the latest high- ket, establish a regula- organize and sector decision-makers, level conference organ- tory framework, specify structure the and representatives from ized by the UPU. the role to be played by market, establish a the private sector and each player, and ensure international organiza- In determining why application of the univer- regulatory tions gathered at the regulation of postal ser- sal postal service.” framework, specify headquarters of the vices is necessary in a the role to be played country, and what type worldwide postal organi- by each player, and zation to discuss and pre- of regulation should be sent organizational mod- adopted, it is important ensure application els for the postal markets to examine the particular of the universal – a challenge which economic and political postal service” many countries will face circumstances of the

Correos Online and PayPal Partner to Improve Payment System for Customers

03 July, 2006 - [Press grated its payment plat- purchasing experience, “With this new Release] form into the CORREOS which is fast, simple and agreement, users of Online webpage, in order completely secure.” “CORREOS, the Spanish to offer customers more CORREOS Online postal service, has in- ways of paying for prod- will have a better cluded the Internet pay- ucts and services offered purchasing ment company, PayPal by CORREOS on the as one of its online pay- Internet. experience, which is ment systems. fast, simple and With this new agree- completely As part of the new agree- ment, users of CORREOS ment, PayPal has inte- Online will have a better secure.”

Page 9 Volume 2, issue 7

Non European experience and PFS development practice

Selected news from Africa, ME and Asia

Asia

Japan’s Privatized Postal Bank Expected to Book Over 500 Bil. Yen Net Profit

25 July, 2006 - [Kyodo] on Oct. 1, 2007, under a hold- billion yen annually, the ing company. The bank, to be sources said. “A new bank to be created called "Yucho (postal sav- “A new bank to be through Japan's postal pri- ings) Bank," is likely to book But the mail-delivery division created through vatization next year could between 428 billion yen and is expected to fall into the red Japan's postal book as much as 500 billion 537 billion yen in net profit in the current business year privatization next yen ($4.28 billion) in annual every year during four years through next March. The net profit in the early years through March 2012. The insurance company, to be year could book as after its establishment, Japan figures exclude potential called "Kampo Life Insurance much as 500 billion Post sources said Monday. stock investment returns, the Co.," is projected to post an yen ($4.28 billion) sources said. Japan Post also annual net profit of between in annual net profit The Diet-passed legislation expects the three other 77 billion yen and 193 billion will split Japan Post, the spinoffs to start with net yen during the four-year in the early years state-run postal service en- profits during the period, period, excluding possible after its tity, into four stock firms -- with the mail-delivery com- revenues from new business establishment” savings, insurance, mail and pany projected to earn be- it would launch, the sources over-the-counter services -- tween 38 billion yen and 53 said.”

Mongolia's XacBank joins Eurogiro network

17 July, 2006 - [FT] small villages across the account transfers and has country with innovative mo- access to the domestic clear- “Eurogiro has announced bile banking units is able to ing via Clearing Center of that Mongolia's XacBank facilitate banking services Mongolbank, which is the has joined the banking including remittances from Central Bank of Mongolia. “Eurogiro has and payment network. other countries to recipients The bank is a SWIFT member in rural areas. but will initially implement announced that Mongolia is one of the most the direct ELS connection Mongolia's XacBank sparsely populated places on XacBank has a full banking solution. has joined the earth and providing financial license and provides univer- banking and services to remote areas is a sal commercial banking Main payment corridors for formidable challenge. How- products although having Mongolia is China and Korea payment network” ever, XacBank with its net- micro financing as its core but also Japan and Hungary work of over 50 branches competency. XacBank will are of significant impor- and presence in over 180 implement both cash and tance.”

India: Money orders not liable to service tax

17 July, 2006 - [Press re- in the nature of banking sued under F. No. lease ] and other financial ser- 354/59/2006-TRU, that vices provided by the De- services such as transfer “Services such as “The issue of leviability partment of Posts has of money through money transfer of money of service tax on certain been brought to the no- orders, operation of sav- through money or- services such as money tice of the Government. ings accounts, issue of ders, operation of orders, operation of sav- postal orders which are ings accounts, issue of Government has exam- in the nature of “banking savings accounts, postal orders which are ined the issue and clari- and other financial ser- issue of postal fied here today vide Cir- vices” defined under sec- orders are not liable Page 10 cular No. 83/1/2006-ST tion 65(12) read with sec- to service tax” dated 4th July, 2006, is- tion 65(105)(zm) of the Volume 2, issue 7

Money orders not liable to service tax “Department of Posts is not Finance Act, 1994 pro- service provider similar bank or a financial insti- considered as a vided by the Department to a bank or a financial tution and therefore such service provider of Posts are not liable to institution are liable to services provided by De- similar to a bank or service tax. service tax under under partment of Posts are not section 65(105)(zm) read liable to service tax. “ a financial Banking and other finan- with section 65(12) of the institution and cial services provided by Finance Act, 1994. therefore such a banking company or a services provided by financial institution or a Department of Posts is non-banking financial not considered as a ser- Department of Posts company or any other vice provider similar to a are not liable to service tax. “ Africa

Nigeria: Why Nipost Cannot Sustain Itself Now - PMG

12 July 2006 - [Ghana the postal service were highly of satisfying his needs. web] threatened by modern Infor- mation Technology services "Furthermore he challenges Onwuka Nzeshi such as the internet based e- posed by the emergence of “Despite the painstaking im- mail and facsimile which information technology to- plementation of the five year have reduced drastically the day stare us in the face. Our “In the coming corporate plan to attain fi- volume of mails handled by traditional services are being years, the nancial independence at Ni- encroached upon by the use NIPOST. The organisation Postmaster General gerian Postal Service had in 2001 launched a five- of e-mail, fax and the Inter- (NIPOST), the goal cannot be year strategic plan meant to net thus reducing the volume said, NIPOST will achieved in the current year wean NIPOST from depend- of mails handled by the post. have no choice but because the organisation has ing on annual budgetary Postal administrations the to adopt and adapt been unable to post the ex- world over are undergoing allocations from the Federal to the imperatives of pected financial returns, a Government following the different stages of reforms in situation blamed on its in- threat by the Obasanjo ad- order to reposition them- information ability to fully integrate in- ministration to divest its in- selves to take advantage of technology, as that formation technology tools terests from public enter- the enormous opportunities was the only way it into its operations to match the era of information tech- prises that were running at a could improve on its the emerging competition in loss through concession or nology has ironically opened the communications sector. outright privatization. up for the post," Baba said. service delivery and In the coming years, the Post- revenue profile.” The Federal Government has "Though we have taken giant master General said, NIPOST therefore granted it another strides in the area of quality will have no choice but to two-year moratorium during of service and customer satis- adopt and adapt to the im- which the organisation is faction, this laudable objec- peratives of information expected to stabilize its op- tive has remained unat- technology, as that was the erations, develop new prod- tained. This is a great chal- only way it could improve on ucts and attain a reasonable lenge to us as an organisa- its service delivery and reve- degree of self-reliance.The tion. Although the Federal nue profile. He said that the Postmaster General of the Government has undertaken deployment of e-products “deployment of Federation and Chief Execu- such as the Post Cash Venture to continue to fund our per- e-products such as tive, Nigeria Postal Service, sonnel cost for a further two would eventually provide the Mallam Ibrahim Mori Baba years, we have to go back to vehicle upon which NIPOST the Post Cash disclosed this in Abuja at the the drawing board to map will ride into the digital Venture would second Merit Award cere- out strategies that would arena. eventually provide mony held to honour employ- enhance and strengthen the the vehicle upon ees of the organisation who revenue base of the organisa- The Post Cash Venture which have distinguished them- tion. We can do this only commenced its pilot scheme which NIPOST will selves in their places of as- through identifying and sat- in domestic electronic funds ride into the digital signment. According to Baba, isfying customer needs. The transfer early this year while arena” the traditional functions of customer today is more dis- its international segment will cerning than ever and is pre- commence in September this Page 11 sented with alternative ways year. “ Volume 2, issue 7

Ghana Post to Diversify Services

12 July 2006 - [Ghana Adonteng, Managing Direc- broadband to provide elec- web] tor, said, in spite of the tronic mail service in areas threats from the technologi- that did not have telephone “The Ghana Post Com- cal advances, the African lines. He identified finan- pany Limited is position- post had tremendous future. cial services as a central ing itself to provide a component for the sur- new image and direction The lack of finance was the vival of postal services, “Also the Post Office of postal services on the biggest handicap of the and announced that the Savings Bank would African continent in the Postal administrations in Ghana Post was running soon be operational, face of serious techno- Africa and the competition as a subagent of the Agri- to encourage logical developments and due to technological develop- cultural Development competition. ment in the global economic Bank to do international savings order had brought the postal money transfer business. mobilization. Cur- Elected as the new Chair of sector under intense pres- rently Ghana Post the Pan African Postal Union sure. However, postal system Also the Post Office Sav- (PAPU) at the 25th Ordinary would survive because it was ings Bank would soon be has 330 main post Session of the Administrative the main transporter of bulk operational, to encour- offices and 700 Council of the Union recently mails. Mr. Dua-Adonteng age savings mobiliza- agencies held in Accra, Ghana Posts is said the Ghana Posts has had tion. Currently Ghana countrywide.” now diversifying its services, to diversify to other lines of Post has 330 main post and would provide the lead- business to sustain itself since offices and 700 agencies ership for a crusade to re- it weaned itself from Govern- countrywide.” form the African postal ser- ment subvention in 1999. Mr. vice to make it survive as a Dua-Adonteng added that the viable venture. Mr. Kofi Dua- company would rely on

Uganda: ICT minister to help Posta beat competition

9 July 2006 - vative and provide more ser- cal delivery of mail. [newvision.co.ug ] vices. Posta Uganda, a parastatal that provides postal services, ”Doctor Ham Mulira, the Mulira, on his maiden visit, was formed in 1998. The ICT minister, has pledged was accompanied by his state company launched reforms “In the last four to support Posta Uganda minister, Alintuma Nsambu. in 2000 in a drive to improve to be competitive and , the state minister for ICT. its image, consequently it years, Posta has increase its profitability. Hajjati Aisha Lubega, the made a profit of sh.180 mil- introduced new ser- “Soon, bills for the cyber chairperson, board of direc- lion in 2004 – 2005 financial vices such as a laws will be tabled in tors and the acting managing year. computerized mail parliament to create a director of Posta Uganda, legal framework for ICT Winston Sibo, took the minis- track and tracing in the country. We shall ters on a guided tour of the system, electronic work together to give company. money transfer, Posta Uganda all the nec- E-mail services and essary support. Lubega said Posta Uganda was struggling to remain physical delivery of You have the passion to suc- relevant in the market. mail. “ ceed and that is paramount,” “Posta has embraced wide Mulira said. postal reforms and is deter- He was addressing Posta’s mined to become a one stop management and board communication solution pro- members at the General Post vider to all Ugandans”, Office on Kampala Road last Lubega said. week. In the last four years, The minister commended Posta has introduced Posta Uganda for facilitating new services such as a communication. He advised computerized mail track the management to be inno- and tracing system, elec- tronic money transfer, E- Page 12 mail services and physi- INTERNATIONAL COMMISSION FOR POSTAL FINANCIAL SERVICES & BUSINESS /ICPFSB/

From the Statute of ICPFSB—2005 Brasov’s meeting

“The ICPFB has the following objectives:

- to contribute to the realisation of the strategy of the UPU in the business field;

- to collaborate with the UPU to rejoin the common objectives and to improve the relations between the member countries and between them, the UPU and the other international organizations;

- to represent and support at the UPU and other international organizations the demands of the different members to es- tablish collaboration relations and development on the business basis;

- to facilitate the exchange of experience and the best practice among members;

- to take into account needs of the customers and of the markets from the business and marketing field; “

ICPFSB Secretariat The coming Agenda:

Members: • Hermina Apostol

• Elena Popovici • Yurii Spiriev 9 - 20 October 2006, Bern

UPU Council of Administration SC Bancpost SA Communication Division 10 - 12 October 2006, Amsterdam POST-EXPO 2006 Phone: +40 21 308 0901 Fax: +40 21 326 8520 14 - 16 November 2006 - Dubai E-mails: UPU Strategic Conference [email protected] [email protected] [email protected]

Postal address: - SC Bancpost SA Postal address: SC Bancpost SA Sediul Libertăţii SediulBd. Libert Libertăţiiăţ nr.ii 18-20, Bd. Libertăţii nr. 18-20, Bl. 103-104, Sector 5, 050706 Bucureşti, România

SC Bancpost SA - Sediul Central Sediul Vitan CaleaSediul Vitan Vitan 6-6A, Sector 3, 031296Calea Vitan Bucure 6-6A,şti, Sector 3, Please visit us at: România031296 Bucure şti, www.icpfsb.org România