Volume 1, Issue 9 01.11.2005 INTERNATIONAL COMMISSION FOR POSTAL FINANCIAL SERVICE BUSINESS /ICPFSB/ PostPost €€ FinFin -- NewsletterNewsletter Special points of The Posts of Romania and Moldova - interest: new ICPFSB members • Upcoming World Summit on the Infor- mation Society (WSIS) • The Post a key point of access to the out- side world • The post office a hub for electronic and financial ser- vices • Time-certain money transfers at reason- October 7, 2005 - [ICPFSB Moldovei) and Romania was taken and a position of a able rates Secretariate] (Romanian Post) to join the permanent member of the Commission as regular mem- Secretariate was constituted. • The importance of “The ICPFSB’ initiative for bers. They listened to and dis- Mr. Yurii Spiriev, an Inde- international migra- partnership between the cussed the report for the activ- pendent consultant and Ex- tion postal operators and ity of the President and ICPFSB’ pert on International postal/post related com- secretariate. Some changes Postal/PF Services from Bul- Inside this issue: mercial banks continues to were discussed and accepted in garia, was elected such mem- develop. This development is the Constitutional Charter so ber. based on the new “open” plat- that better conditions for the form, accepted in Brasov, Ro- Commission’s future function- The Forum discussed and Romania to Sell Off 4 mania (February 2005) for the ing be created. accepted the main strategic State Postal Company purposes of interaction between directions for the Commis- the key stakeholders - postal A new position of Expert on sion’s future activity and Financial services are operators, postal and other Postal Financial Services /PFS/ approved a concrete Activity not an add-on but core service for Pol- 6 post related commercial banks. was introduced into the man- plan and a respective budget ish Post agement body of the Commis- for 2006. The main objective is the provi- sion. His/Her role would be to The Group of EFG sion of more PFS/and banking support the President in inten- The invitation of Moldova Eurobank - new ma- services through the post office was accepted and the next jority shareholder of 10 sifying the links between Com- Nacionalna Štedionica network and expanding its ac- mission, UPU, postal /PF ser- GA meeting is to be held in cess to financial services via the vices of the member countries the autumn of 2006 in Chisi- Post Danmark and postal system. nau, Moldova. The host of the CVC to Invest in the and other institutions con- event will be Posta Mold- Belgian Post 18 cerned. The Forum elected Mr. The Second ICPFSB Gen- Dairis Krumins from Latvia for ovei.” Live Tele Money Or- 21 eral Assembly (GA) meet- that position der (TMO) production ing was held on October 5- 6, 2005 in Riga. On sugges- With a view to better planning Japan Post Starts 26 ICPFSB Selling Investment tion of the ICPFSB President and implementation of the Trusts under Agenda item 1 the dele- functions of the Secretariate, Secretariate gates approved the appli- which were included in the Con- cations of Moldova (Posta stitutional Charter, a decision Volume 1, Issue 9 New horizons for interaction between ICPFSB and UPU - POC PFSG 20 October 2005 - invited to visit the Commis- readiness shared for ex- [ICPFSB Secretariate] sions’ web site at change of information and www.icpfsb.org more fre- support of these initiatives. “ICPFSB took part in the quently - a useful source for UPU could provide appro- regular meeting of UPU up to date information about priate lecturers on some is- POC PFSG. The aim was to the latest developments sues of importance to UPU reestablish and put on a new /news/ in the area of like IFS deployment, money In her speech basis the existing contacts postal/PFS and laundering, etc. and interaction between postal/commercial banking during the Forum both organizations in sup- services, provided via post A possible UPU financial Mrs. E. Petculescu, port and for the achievement office networks. support for some developing the ICPFSB of the UPU goals in this area. countries was com- In a number of bilateral mented/discussed, regard- President, brought In her speech during the meetings the representatives ing their eventual participa- the attention of the Forum Mrs. E. Pet- of the Commission intro- tion in the ICPFSB initiatives audience to the culescu, the ICPFSB duced to the European and (esp. the above mentioned results of the President, brought the Central Asia (ECA) coun- training courses). Second GA meeting attention of the audience tries, present at the meeting, to the results of the Sec- the idea for organizing a Undoubtedly the established of the Commission, ond GA meeting of the special training course. The contacts are a prerequisite recently held in Commission, recently key topics of the program for further development. The Riga, Latvia held in Riga, Latvia. She will cover some important future activities will be con- presented the last aspects of PFS development centrated on finding more changes on the Constitu- and some operational, IT opportunities for coopera- tional Charter and the and marketing issues. The tion and accomplishing the new Strategy directions course is targeted at some goals of both organizations - for the future activity of selected staff members from implementation of the rec- the Commission. both the postal operators ommendations made in the /PFS providers, postal and Bucharest Congress A special CD containing the post related commercial resolution C 47. “ first four issues of the banks. ICPFSB News Letter, has been distributed among par- On behalf of UPU interest ticipants. They have been has been expressed and The Post Bank is included in the open stock market of the Varajdin Exchange 31 October , 2005 - For the sake of brevity: be the third bank in [Business.hr] HPB-R-A; Full name: Croatia CROATIAN POST BANK “Today at the request of PLC; Address and head- Zagreb - The Croatian Today at the re- the broker's house quarters: URISHCHEVA Post Bank (CPB) has re- quest of the broker's I.F.C.d.o.o. Zagreb new 4 10000 ZAGREB; Regis- alized a profit before tax house I.F.C.d.o.o. securities are included in tration No. 3777928; of 104,2 Million HRK Zagreb new the open stock market: ISIN: HRHPB0RA0002; during the first eight securities are Original Capital: months - stressed out in included in the open The Croatian Post Bank 584.779.800, 00HRK Friday the Chairman of stock market: Zagreb HBB-RA. (Croatian Kuni); Restric- the Managing Board Mr. tions in the disposition Yossip Protega. The Croatian Post The first trading day is with the shares: the Bank Zagreb HBB- Monday, October 31st, shares are included in Along with the bank re- RA 2005. SDA 12.12.2000; Issuer of sults the new CPB visual the request for inclusion: identity has been pre- Key data about the issuer: I.C.F. OOD Zagreb sented. Page 2 In five years we shall Speaking of the activity Volume 1, Issue 9 The Post Bank is included in the open stock market of the Varajdin Exchange (cont.) during this year, Mr. grown with interest rates Croatia Bank joined CPB. Protega stressed out that of 4%, while CPB (has the bank's assets have grown) with interest Protega underlined that increased from 5,5 Bil- rates of 20%. CPB believes that the fact lions HRK at the end of that the Croatia Bank last year to 6,7 billions We intend in future to joined CPB would be the HRK for the first eight grow faster than the best decision for the months. stock market, although Croatia Bank sharehold- we understand that we ers as well as for the "In the forthcoming three won't be able to realize state and for CPB. We intend in future years we plan to be such huge interest rates, to grow faster than amongst the first three emphasized Mr. Protega. If half a year ago Croatia the stock market, banks in realized profit Bank had joined CPB, the although we on capital and in five Protega underlines that small shareholders understand that we years to reach ten per- in 2007 or 2008 CPB will would have been able to won't be able to cent of the bank stock look for capital neces- take part in CPB profits realize such huge market and to become sary for the bank devel- and not in the operating interest rates, the third big bank. opment at the Zagreb loss of the Croatian emphasized exchange by increasing Bank. Mr. Protega We foresee for the five the shares. next years a growth of 100 percent of the finan- This will give the CPB the cial market. opportunity to remain the only big bank, whose This means that the major share is state- share of the bank sector owned. in the GDP will be ap- proximately 40 percent. Frenky Laushich During the first eight months of this year the bank stock market has Sviaz-Bank demonstrates high growth of its basic quantitative indicators 26 October, 2005 - points from the beginning of million roubles in working [Finance] the current year. According assets. This allowed the to data from analysts of RCB Bank to occupy 52nd posi- “According to ratings data, ratings, the net assets of the tion. Since the beginning of recently published by IA Bank insreased to74, 7% this year the working assets Rosbiznesconsalting and from January 1, amounting have increased to 80%. Ac- ‘Finance’ magazine, Sviaz- to17 362,80 million rubles. cording to the magazine, the Bank shows a positive dy- amount of credits, given to namics in its quantitative some enterprises and or- indicators.