The latest issue of the Post Financial Times covers a lot of good news in relation to postal financial inclusion:
- the “postbanks” in New Zealand and Slovak Republic have been rated as “Bank of the Year 2010”
- the Thai Cabinet resolved on establishment of a Postbank to extend microfinance
- the Polish Postbank is rapidly expanding its client base and products
- the Russian Post scores #1 as best known brand, its existing financial services have been valuated at “just” USD 3 billion
- Banco Postal in Brazil celebrated passing the 10 million client mile stone
These news do confirm the recent acceleration of the movement of Posts towards diversification in postal finance and the potential of postal networks in helping achieve financial inclusion as highlighted in our economic research last year. This is particularly true in emerging countries. This trend is not likely to stop any time soon!