An Post moves closer to providing banking services
Post offices around the country could be providing banking services by the end of the summer, it emerged today.
An Post revealed the deal had moved a step closer after it signed the first stage of an agreement with Belgian/Dutch-based international financial services company, Fortis.
The firms have agreed a memo of understanding with management hopeful it will be completed over the next four months.
“Both parties expect to sign the final agreement by this summer,” An Post said in a statement.
The move will lead to the creation of a joint venture between Fortis and An Post with a view to providing financial services in Ireland in post offices around the country.
Assuming a successful conclusion, An Post and Fortis expect to bring products to the market early next year.
The An Post expansion was approved by the Cabinet meeting in February as part of the strategic recovery plan for the company announced in 2003.
The move is regarded as a significant step forward for the firm opening new profit making avenues across its unrivalled network of urban and rural post offices.
Fortis, which has experience in postal banking. is an international financial services provider engaged in banking and insurance, which ranks among the 20 largest financial institutions in Europe with a presence in 44 countries and a workforce of 56,000.
