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{{Short description|Financial services subsidiary of Swiss Post}}
{{Infobox company
|name = PostFinance Ltd
|logo = PostFinance Logo.svg
|logo_size = 250px
|image = PostFinance headquarters, Bern 2015.jpg
|image_caption = PostFinance headquarters in Bern
|type
|
|foundation = {{Start date and age|1906}}
|predecessor =
|location = [[Bern]], Switzerland
|key_people = [[Hansruedi Köng]] ([[Chairman]])
|area_served = [[Switzerland]]
|industry = {{Unbulleted list|[[
|num_employees =
|products = {{Unbulleted list|[[Investment
|revenue =
|operating_income = CHF
|net_income = {{profit}} CHF
|assets =
|equity =
|caption =
|homepage =
}}
'''PostFinance Ltd''' is the financial services unit of [[Swiss Post]] which was founded in 1906.
PostFinance is fully-owned by the Swiss government.<ref name="finews mortgages">Samuel Gerber, [https://www.finews.com/news/english-news/33147-postfinance-swiss-government-mortgages Postfinance: Why the End of the Ban Matters], ''Finews.com'', 6 September 2018</ref>
In 2013, the [[Swiss Financial Market Supervisory Authority]] (FINMA) awarded PostFinance a bank licence.<ref>https://www.finma.ch/en/news/2013/06/mm-postfinance-20130626</ref> In 2015, PostFinance was declared a "[[Systemically important financial institution|systematically important]]" financial institution in Switzerland by the [[Swiss National Bank]], which means the bank must follow special regulations with regards to liquidity and equity.<ref>https://www.sif.admin.ch/sif/en/home/dokumentation/medienmitteilungen/medienmitteilungen.msg-id-67336.html</ref>▼
==History==
▲In 2013, the [[Swiss Financial Market Supervisory Authority]] (FINMA) awarded PostFinance a bank licence.<ref>{{Cite web|url=https://www.finma.ch:443/en/news/2013/06/mm-postfinance-20130626/|title=PostFinance Ltd is placed under FINMA supervision|first=Eidgenössische Finanzmarktaufsicht|last=FINMA|website=Eidgenössische Finanzmarktaufsicht FINMA}}</ref> In 2015, PostFinance was declared a "[[Systemically important financial institution
In 2020, PostFinance's profits fell to 131 million Swiss francs (from 246 million in 2019<ref name="swissinfo">{{cite web |url=https://www.swissinfo.ch/eng/business/swiss-postal-bank-turns-up-digital-dazzle-to-arrest-declining-fortunes/46608702 |title=Swiss postal bank turns up digital dazzle to arrest declining fortunes |author=Allen, Matthew |date=11 May 2021 |accessdate=18 March 2023 |website=Swissinfo }}</ref> and 229 million francs in 2018<ref>[https://www.finews.com/news/english-news/38714-postfinance-chief-sends-letter-warning-of-tough-times Postfinance Chief Sends Letter Warning of Tough Times Ahead], ''Finews.com'', 6 November 2019</ref>) and its customers to 2.69 million (from 2.74 million in 2019).<ref name="swissinfo"/> 129 jobs were cut to adjust to the revenue drop (500 jobs were also cut in 2018).<ref>Florian Wicki, [https://www.finews.com/news/english-news/43493-postfinance-speed-up-job-cuts Postfinance: New Strategy, New Job Cuts], ''Finews.com'', 27 October 2020</ref>
In early 2021, the Swiss government was considering the privatization of the bank to allow it to act like a regular private financial institution (including granting mortgages and loans). This process would however imply changing the Postal Act and have the government back the bank's capital during a transition phase.<ref>[https://www.swissinfo.ch/eng/government-wants-to-privatise-postfinance-bank/46302896 Government wants to privatise PostFinance bank], ''Swissinfo.ch'', 20 January 2021</ref> In February 2022, the Russian oligarch and resident of Switzerland [[Viktor Vekselberg]] won a lawsuit against PostFinance after the bank had closed his account in 2018 following sanctions imposed on him by the US authorities.<ref>[https://www.swissinfo.ch/eng/vekselberg-wins-lawsuit-against-postfinance-bank/47357666 Vekselberg wins lawsuit against PostFinance bank], ''Swissinfo.ch'', 17 February 2022</ref>
In April 2023, it was announced that PostFinance will provide its customers with access to cryptocurrencies - [[Bitcoin]] and [[Ethereum]]. The project is being implemented in partnership with the Sygnum cryptobank. The decision was made against the backdrop of a massive flow of customer funds into cryptocurrencies.<ref>{{Cite web|url=https://www.insights.sygnum.com/post/postfinance-partners-with-sygnum-bank-to-offer-cryptocurrencies|title=PostFinance partners with Sygnum Bank to offer cryptocurrencies|date=2023-04-05|website=Sygnum Bank}}</ref>
==Description==
PostFinance has an AA+ credit rating from [[Standard & Poor's]].<ref>{{Cite web |url=https://www.postfinance.ch/content/dam/pfch/doc/ueber_uns/pf_sp_ratingreport_en.pdf |title=Archived copy |access-date=5 January 2020 |archive-date=16 January 2021 |archive-url=https://web.archive.org/web/20210116034456/https://www.postfinance.ch/content/dam/pfch/doc/ueber_uns/pf_sp_ratingreport_en.pdf |url-status=dead }}</ref>
==References==
{{Reflist}}
▲{{Use dmy dates|date=August 2011}}
==External links==
{{Portal|Banks}}
{{commons category-inline}}
* {{in lang|en}} {{Official website|www.postfinance.ch/en.html}}
{{Banks of Switzerland}}▼
{{Authority control}}
{{coord|46.9571|N|7.4679|E|source:wikidata|display=title}}
▲{{Banks of Switzerland}}
[[Category:Banks of Switzerland]]
[[Category:Banks established in 1906]]
[[Category:Swiss companies established in 1906]]
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