Deutsche Post World Net (DPWN) has disclosed plans to transfer some 850 large retail outletsfrom its 12,000-strong post office network to its banking subsidiary Postbank from the beginning of
next year. Postbank, which is now Germany’s leading retail bank, would gain its own network underthe transfer. DPWN said it had started talks with the Ver.di union over the transfer, which wouldaffect around 9,500 employees.DPWN described the move as designed to increase the sales power of Postbank, which currentlyoffers products and services to consumers through outlets located within some 9,000 German postoffices. More than 80 per cent of Postbank’s new business stemming from the DPWN branch network wasgenerated in the 850 outlets under discussion. The bank won some 890,000 new customers in 2004.
The long-term majority shareholding of Deutsche Post in Postbank is not affected by thismeasure, DPWN stressed. There would be no change in the offering of postal services to customers inthe affected branches and all legal requirements would continue to be met in the more than 12,000retail outlets throughout Germany. The large branch network would continue to offer a broad rangeof services for Postbank customers.
