Tag Archives: postal bank

Should the USPS re-launch a postal bank?

The United States Postal Service is currently facing a very tough financial situation. Losses are piling on and could reach $14.1 billion for fiscal year 2012. Drastic decisions must therefore be made to ensure the viability of the Post. Most of the focus is currently placed on slashing costs, by closing post offices, reducing the workforce (155,000 […]

PostFI to CGAP: Postal Banks Have the Potential to Open 1 Billion New Savings Accounts

Toward the end of the 19th century, postal services began to contribute to the development of a savings culture in many of today’s industrialized countries. And they are playing a similar role in developing and emerging countries at the dawn of the 21st century. A number of postal banks meet several of the key elements […]

A well kept secret: posts in financial inclusion

By Marie-Odile Pilley The essential role of posts in financial inclusion remains a well-kept secret. Did you know that China Post Savings Bank on its own holds 30% of the accounts in China ? With deposits amounting to €2.700bn, the Japanese Post Bank remains the largest financial institution in the world.  Japan Post Insurance manages […]

Postal Banks: Wanted by Poor, He Felt … 100 Years Ago

The New York Times (NYT) online archives recently led us to one of these extraordinary re-discoveries of history. “Wanted by Poor, He Felt”: this was the sub-title of NYT’s article on the approval of the postal bank bill by U.S. Senate in June 1910. At that time, President Taft (Republican) “felt that it is to these […]

Financial Inclusion and Postal Banking: New Research Paper

Out of 1.5 billion users of postal financial services in the world, only 400 millions are holders of a postal (bank) account, 300 millions of which located in developing or emerging countries. As of today, more than 2 billion adults remain un-banked, mostly in developing and emerging countries, although under-banked citizens are also a concern […]

UK: Post Office Massively Back to Finance?

Next steps for Post Office banking announced 29 March 2010 M2 Presswire Business Secretary Lord Mandelson today announced a major expansion of the financial services offered by the Post Office, in a drive to put banking back into the heart of communities and making the Post Office network of 11,500 branches more sustainable. He also […]

Banking on India Post

In India, postal financial services go hand in hand with government measures to promote financial inclusion. This collaboration is helping to ensure that poor people are not excluded from basic products, such as savings accounts. Covering the last mile is a major challenge of governmental engagement in poverty alleviation. Financial exclusion is not only a […]