PostFinance is the financial services unit of Swiss Post which was founded in 1906. It is the fifth[citation needed] largest retail financial institution in Switzerland. Its main area of activity is in the national and international payments and a smaller but growing part in the areas of savings, pensions and real estate.
 | |
 PostFinance headquarters in Bern | |
| Company type | Subsidiary (of Swiss Post) |
|---|---|
| Industry | Banking Financial services |
| Founded | 1906 |
| Headquarters | Bern, Switzerland |
Area served | Switzerland |
Key people | Hansruedi Köng (Chairman) |
| Products | Investment banking Investment management Wealth management Private banking Corporate banking Private equity Finance and Insurance Consumer banking Mortgages Credit cards |
| CHF 2.2 billion (2009)[1] | |
 CHF 447.8 million (2009)[1] | |
| Website | postfinance.ch |
PostFinance is fully-owned by the Swiss government.[2]
History
In 2013, the Swiss Financial Market Supervisory Authority (FINMA) awarded PostFinance a bank licence.[3] In 2015, PostFinance was declared a "Systemically important financial institution" in Switzerland by the Swiss National Bank, which means the bank must follow special regulations with regards to liquidity and equity.[4]
In 2020, PostFinance's profits fell to 131 million Swiss francs (from 246 million in 2019[5] and 229 million francs in 2018[6]) and its customers to 2.69 million (from 2.74 million in 2019).[5]
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.[7] In May 2021, PostFinance partnered with Swissquote to launch the mobile application Yuh to provide its clients with access to cryptocurrencies, invest in stocks and EFTs.[5]
Description
PostFinance has an AA+ credit rating from Standard & Poor's.[8]
References
- ^ a b Key figuresaccount, PostFinance, retrieved 26 December 2010
- ^ Samuel Gerber, Postfinance: Why the End of the Ban Matters, Finews.com, 6 September 2018
- ^ FINMA, Eidgenössische Finanzmarktaufsicht. "PostFinance Ltd is placed under FINMA supervision". Eidgenössische Finanzmarktaufsicht FINMA.
- ^ "Federal Council adopts report on systemically important banks". sif.admin.ch.
- ^ a b c Lubomir Tassev, State-Owned Swiss Bank Postfinance Launches App Supporting 13 Cryptocurrencies, Bitcoin.com, 13 May 2021
- ^ Postfinance Chief Sends Letter Warning of Tough Times Ahead, Finews.com, 6 November 2019
- ^ Government wants to privatise PostFinance bank, Swissinfo.ch, 20 January 2021
- ^ "Archived copy" (PDF). Archived from the original (PDF) on 16 January 2021. Retrieved 5 January 2020.
{{cite web}}: CS1 maint: archived copy as title (link)
External links
Media related to PostFinance at Wikimedia Commons
- (in English) Official website
46°57′26″N 7°28′04″E / 46.9571°N 7.4679°E
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