News 2016

Kenya: Posta set to issue payment cards with eye on State cash transfers

26 December 2016 (Business Daily Africa)

The State-owned postal services corporation Posta has announced plans to begin issuing payment cards with an eye on lucrative government cash transfer contracts. The Postal Corporation of Kenya (PCK) last week invited banks to submit tenders for settlement, acquiring and card issuance services.

Click here to read more.

NIPOST to deploy agency banking in rural areas

26 December 2016 (The Citizen Online)

The Nigerian Postal Services (NPS) says it will deploy agency banking for financial inclusion of unbanked rural dwellers and its customers in suburban communities within its areas of coverage. 

Click here to read more.

India Post to open first bank branch in Jharkhand next month

21 December 2016 (Times of India)

India Post, Jharkhand, will become the first in the country to open a bank branch India Post Payments Bank (IPPB) in January. The basic preparations in terms of infrastructure, manpower and training have been completed.

Click here to read more.

LandBank to set up OFW Bank by September 2017

20 December 2016 (BusinessMirror)

THE Land Bank of the Philippines (LandBank) will set up a bank co-owned by overseas Filipino workers (OFWs) by September 2017, with an authorized capital of P3 billion, to be able to actively cater to the banking needs of Filipinos working abroad.

Click here to read more.

Croatian Postal Bank and Croatian Post to Create Largest Branch Network in Croatia

19 December 2016 (Total Croatia News)

Croatian Postal Bank (HPB) and Croatian Post (HP), through the Bank in Post Office project, will create the largest distribution channel of banking and financial services in the country.

Click here to read more.

NIGERIA: Government targets NIPOST to aid financial inclusion initiatives

14 December 2016 (Mobile Money Africa)

To aid mobile and financial inclusiveness especially in rural communities, banking services will be added to the operations of the Nigeria Postal Services (NIPOST), the national postal carrier which delivers mails to businesses and citizens.

Click here to read more.

Can only love for our postman ensure success for India Post Payments Bank?

12 December 2016 (Live Mint)

The key to the success of India Post Payments Bank will be its business plan and if that’s in place, technology.

Click here to read more.

Algérie Poste lance sa plateforme de ecommerce

7 December 2016 (IT Mag)

« Avec plus de 18 millions de clients et 3500 bureaux, Algérie Poste lance sa plateforme de epaiement et ecommerce » déclare Imene-Houda Feraoun lors de la conférence de presse après l’inauguration officielle.

Click here to read more.

DTB in pact with Posta to boost agency banking network

11 November 2016 (Business Daily)

Diamond Trust Bank has tapped into Postal Corporation of Kenya’s network to bolster its agency network to 1’000, up from the current 600.

Click here to read more.

Post Payments Bank eyes synergies with financial services biz of India Post

30 October 2016 (The Hindu Business Line)

The India Post Payments Bank is working on striking synergies with the Post Office Savings Bank of the Department of Posts to ensure that its customers don’t look elsewhere for parking deposits exceeding ₹1 lakh.

Click here to read more.

Pakistan Post to digitize money order service in partnership with Karandaaz Pakistan

26 October 2016 (DND)

ISLAMABAD, Pakistan: Pakistan Post and Karandaaz Pakistan on Wednesday signed a partnership agreement to digitize money orders service at Pakistan Post.

Click here to read more.

NIPOST eyeing postal banking services

25 October 2016 (Post & Parcel)

Nigeria’s Minister of Communications, Adebayo Shittu, has indicated that NIPOST is considering plans to set up postal banking facilities in 1,500 branches, according to local sources.

Click here to read more.

Mastercard signs MoU with Tunisian Post to develop new digital financial services

18 October 2016 (Albawaba Business)

Strengthening their shared commitment to promoting economic equality through financial inclusion, Mastercard, a leading technology company in the global payments industry, and the Tunisian Post have signed a Memorandum of Understanding (MoU) to develop and launch new digital financial services.

Click here to read more.

China’s Postal Savings Bank Just Had The Largest IPO Ever: What You Need To Know

28 September 2016 (Forbes)

The Postal Savings Bank of China (PSBC) made a tepid debut on the Hong Kong stock market today. Its shares changed little at closing from their IPO price of HK$4.76 per share. The Beijing-based lender raised a total of $7.4 billion in the Hong Kong listing–selling 12.1 billion shares, making it the largest offering this year globally since the $25 billion New York IPO of Chinese e-commerce group Alibaba in 2014.

Click here to read more.

New avatar for the old India Post

26 September 2016 (The Pioneer)

The postal service department is in for exciting times. But it needs to revamp functioning if it has to make full use of the new avenues which are opening up.

Click here to read more.

Post Office targeting break-even within two years

16 September 2016 (Enterprise Management 360°)

 The UK’s Post Office is finally finding its feet in the digital world, and the man charged with helping the 380-year-old organisation to take its first steps says transformation is not necessarily all about change.

Click here to read more.

Angola’s postal service sets up Postal Bank

5 September 2016 (Macauhub)

Angola’s postal service Empresa Nacional de Correios e Telégrafos de Angola plans to set up a postal bank, Banco Postal, a limited liability company focused on attracting savings, the state company said in a statement issued on Friday.

Click here to read more.

Indonesia: Govt to revive legendary Tabanas postal savings program

2 September 2016 (The Jakarta Post)

The government is resurrecting the old National Development Saving (Tabanas) program, proposing postal savings for people, including in remote areas, to accelerate financial inclusion across the archipelago.

Click here to read more.

Bangladesh: Postal Bank comes as saviour of postal dept

30 August 2016 (The Financial Express)

The postal department has applied for government permission to operate specialised banking mainly to the unbanked rural people, as post-boxes now look to be a thing of the past.

Click here to read more.

Poland wants post office to expand in consumer finance, insurance

18 August 2016 (Reuters)

Poland wants state-run postal group Poczta Polska to expand in consumer finance and insurance to revive revenues, but has no plans to privatise it, a deputy minister overseeing the company said.

Click here to read more.

Postal Savings Bank of China: a red-letter IPO

23 July 2016 (The Economist)

FEW companies are able to go public with a valuation of more than $50 billion less than a decade after their founding. This rarefied group, which mainly consists of tech darlings, is about to admit a surprising new member: a large, lumbering Chinese bank. Postal Savings Bank of China, established in 2007, is on course for an initial public offering (IPO) this year that is expected to be the world’s biggest for nearly two years.

Click here to read more.

Banks say there’s no need for Canada Post to open the teller window

12 July 2016 (The Canadian Press)

The lobby group representing Canada’s big banks says there’s no need for Canada Post to expand onto their turf because Canadians already have an abundant choice of financial services. The Canadian Bankers Association says there is “no public policy objective or existing gap in the marketplace” that would warrant a Crown corporation becoming a retail bank.

Click here to read more.

SA Post Office to Launch its Own Bank

11 July 2016 (Mobile Money Africa/FIN24)

The South African Reserve Bank (Sarb) has approved the SA Post Office’s first level application for a banking licence for Postbank. The awarding of the licence means that the Postbank is closer to offering more than just savings accounts as it will be able to offer banking cards and other services.

Click here to read more.

Inside a Mega-IPO: China Postal Bank’s (Very Large) Numbers

6 July 2016 (Bloomberg)

Not everyone is a fan of Postal Savings Bank of China Co., the lender that could raise $8 billion in the world’s biggest initial public offering this year. […] Still, one thing that’s not lacking is scale. The bank will be the world’s biggest listed lender by outlets, data compiled by Bloomberg show.

Click here to read more.

China’s Handle-With-Care Postal Bank

5 July 2016 (Bloomberg)

Postal Savings Bank of China is a hefty package. For investors, it comes with a “handle with care” sticker. First, the heft. This $8 billion IPO candidate counts almost half the people in the world’s most-populous country as its customers.

Click here to read more.

Post Office’s role included in MPs debate on community banking

4 July 2016 (

The role of the Post Office featured prominently in a debate in the House of Commons last week about concern around bank closures.

Click here to read more.

China’s Postal Savings Bank Said to File for $8 Billion IPO

30 June 2016 (Bloomberg)

Postal Savings Bank of China Co. filed a listing application with the Hong Kong stock exchange, people with knowledge of the matter said, as it prepares for an $8 billion initial public offering that could be the world’s biggest this year.

Click here to read more.

Payday lending isn’t helping the poor. Here’s what might.

28 June 2016 (The Washington Post – )

[…] all creditworthy Americans deserve equal access to credit, especially because reasonable and safe credit can provide a smoother path both through and out of poverty.

How would a public option work? Postal banking.

Click here to read more.

eTranzact targets reducing unbanked to 10% this year

22 June 2016 (Mobile Money Africa)

eTranzact says it is on track to explore the network of the Nigerian Postal Services to reduce the unbanked population in the country to 10 per cent before the end of 2016.

Click here to read more.

SALPOST, Diaspora Affairs And Mic Launch Post Umva Platform

21 June 2016 (Awareness Times, Sierra Leone)

The Sierra Leone Postal Service (SALPOST) in collaboration with the Office of Diaspora Affairs (ODA) , and the Ministry of Information and Communications (MIC) with support from the Dutch government has launched the Universal Method of Value Access (UMVA) post platform.

Click here to read more.

Opening a postal bank account just a phone call away

7 June 2016 (The New Indian Express)

Opening a postal bank account is just one phone call away and if you are a pensioner, the money will reach at your door step through your friendly postman. These are a few of the many customer friendly initiatives approved last week by the Postal Board.

Click here to read more.

India Post to open payments bank with 650 branches

1 June 2016 (The New Indian Express)

India Post, which already offers limited financial services through its 154,800 post offices, is also becoming a payments bank with 650 dedicated branches involving an investment of Rs 800 crore, officials said on Wednesday.

A meeting of the cabinet, presided over by Prime Minister Narendra Modi, gave its approval to the proposal, following an in-principle approval by the Reserve Bank of India earlier.

Click here to read more.

To seek Cabinet nod for India Post payment bank this month: Ravi Shankar Prasad

12 May 2016 (The Indian Express)

The Ministry of Communications and Information Technology has moved a Cabinet note on India Post’s payment bank proposal and is likely to seek the approval of the Union Cabinet this month. India Post’s payment bank is slated for a March 2017 launch.

Click here to read more.

Should We Bring Back The Postal Banking System?

1 May 2016 (Law / Street)

If you are tempted to take out a payday loan you might want to take Sarah Silverman’s advice and try literally anything else. The trouble is, there are rarely other options and here in the United States there are 40 million Americans who are “unbanked,” without access to the formal financial system. Shockingly, these Americans spend the same amount just to use their own money as they do to purchasing food–10 percent of their income.

One of the proposed solutions to provide access to banking services for the unbanked is to use the United States Postal Service. Progressive politicians are advocating this method as an efficient way to reach low-income citizens in their neighborhoods. But some are uncomfortable with a government agency, one which is facing some financial difficulties of its own, taking on a problem that should be dealt with by market forces.

Click here to read more.

Post office / Wing e-commerce deal

24 April 2016 (Khmer Times)

Cambodia Post Office (CPO) and Wing (Cambodia) Specialized Bank have signed a partnership allowing Wing customers to transfer money and pay bills through the government agency as the post office moves into e-commerce.

Click here for the full article.

Over 60 financial giants line up to partner with India Post

4 April 2016 (The Times of India)

The vast legacy network of India Post, once perceived to be unwanted baggage and a huge financial burden, is turning out to be its biggest strength. Top global financial firms Barclays, Citibank, Deutsche Bank, Western Union, Visa and domestic giants State Bank of India and Punjab National Bank are among over five dozen companies that have queued up to partner with the payments bank arm of the country’s postal department.

Click here for more.

India Post to approach RBI for interoperability of ATMs

3 March 2016 (Economic Times)

Department of Post (DoP) will soon approach Reserve Bank for interoperability of its ATMs with commercial banks as it looks to roll out 10,000 ATMs across the country by the end of this year.

Click here to read more.

PIB clears India Post’s Rs. 800 cr proposal for payments bank

21 February 2016 (The Hindu Business Line)

The Public Investment Board has approved the Rs. 800-crore proposal from India Post for setting up a payments bank and it will be placed before the Cabinet within a month for final approval.

Click here for the full article.

VTB and Russian Post team up to create new retail bank

1 February 2016 (IBS intelligence)

Russia’s major banking group, VTB, and Russian Post have joined forces and plan to create a new retail bank to rival Sberbank. VTB chief executive Andrey Kostin, says the bank will invest RUB 16 billion ($235 million) for a controlling stake in the new entity – called Postal Bank.

Click here for more.

Post office network’s future depends on finances

29 January 2016 (Corporate Finance TV)

Recent reports have been made available regarding the country of Ireland and their post office network. Based on information from this report, it was determined that the post office must provide customers with more financial services.

Click here for more.

Postal banking would dent payday loan business

12 January 2016 (The Chronicle Herald)

Canadians love their chartered banks, which are reputed to be among the safest in the world. Yet almost a million Canadians don’t have bank accounts and about two million resort to payday-loan operators charging interest rates and fees in the 500 per cent range.

Click here for more.

India goes postal in bid to give bank accounts to the masses

6 January 2016 (Bloomberg)

The world’s largest post office network is planning to ramp up its financial services across India, triggering a race among commercial banks to set up partnerships to reach remote areas that have been unprofitable.

Click here to read more.

India’s Post Bank gets March 2017 green light

4 January 2016 (Banking technology)

India’s Post Bank is to begin processing payments in March 2017, according to the government’s communications minister. The move is part of long-standing plans to use India’s Post Office network to spread financial inclusion in the world’s largest democratic nation.

Click here for the full article.

%d bloggers like this: