PostFinance
Management
Hans Ruedi Köng (management)
PostFinance is a corporation that operates as a subsidiary of Swiss Post in the area of financial services and the fifth largest retail financial institution in Switzerland is. The main area of activity is in the national and international payments and to a lesser but growing frame in the fields of investments, retirement planning and financing.
Business
PostFinance is responsible as a separate division of the post for the area of financial services. Within the Post Group PostFinance occupies an important position and controls around 25 % of total operating income in the post. The balance sheet total at the end of 2010 was 89.3 billion Swiss francs, the net profit (EBIT ) for the full year 2010 was 571.4 million francs. PostFinance has approximately 3200 employees.
Company data
Legal basis
The legal basis for the activities of the Post and PostFinance is the Swiss Postal Services Act or the Postal Regulation. This aims to ensure nationwide provision of services in the postal and payment services and regulates the services that " Swiss Post " (Post) are offered in the postal and payment by the company.
In the post Regulation of the post is given the opportunity to offer on behalf of third party services and products that are suitable for sale on the infrastructure of the post, such as the distribution of investment fund units, the provision of banking services or the transfer of property and life insurance. This legal basis means that PostFinance itself only allowed to offer financial services, for which no authorization of the Swiss Financial Market Supervisory Authority ( FINMA ) are necessary or activities that require a license may only offer in co-operation with a bank or insurance.
Field of activity
The absence of a banking license, the field of activity of PostFinance is severely limited. The traditional main field of activity lies in the national and international payments. The other areas of operations PostFinance lie in the areas of investment, retirement planning and financing, PostFinance, however, only limited and may offer in cooperation with banks and insurance companies. Despite legal restrictions, PostFinance positioned below the retail financial institutions as number five in Switzerland.
The exchange forms the actual core point of PostFinance. So took the " postal and giro transactions " in 1906 its operation as part of Swiss Post on. PostFinance has a market share of around 60 percent, the market leader in Swiss payment traffic and e-finance, the online portal of PostFinance, a leader in e -finance. For area figures include the private account - range and various related services. Although PostFinance 89.3 billion francs in customer deposits, but these are only 29.3 billion francs in deposits and investments, while the vast majority is in the form of credit to private accounts. This is the area of payments and related services, the actual hub of PostFinance dar.
The range comprises applying one hand the own investment products, on the other hand those that are offered in cooperation with other banks. Among the own investment products include the deposit account and the cash bonds. Deposits within the meaning of the Banking Act shall not accept PostFinance, however. As part of the range applying PostFinance, in collaboration with UBS also investment funds. Likewise, PostFinance offers in cooperation with the Banque Cantonal Vaudoise (BCV ) to an online platform for securities trading, the securities trading and safekeeping services are assumed by the BCV.
In the area of provisions, PostFinance offers both in collaboration with UBS a pension account under Pillar 3a on the other hand, in cooperation with AXA Winterthur life different life insurance options.
The area of Finance is the youngest of the four areas of activity of PostFinance. Since May 2003, PostFinance, in cooperation with UBS also mortgages, which are not granted by PostFinance itself but by UBS, which pays full credit risk and when these mortgages are also accounted for. Even PostFinance may not be active in the lending business.
Future
Goal of PostFinance is to arrive in Switzerland as a retail institution in customer deposits and the main bank relationships among the three largest. PostFinance received on 26 June 2013 by the Swiss Financial Market Supervisory Authority ( FINMA) a license as a bank and securities dealers. So that it can expand its range of financial services and be active in the lending business.
Conviction for money laundering
In April 2011, Swiss Post has been sentenced to a fine of 250,000 francs for money laundering. The court threw the PostFinance claims to have performed at a high cash payout of over 4.6 million francs to an investment company any clarifications. The post office does not possess any relevant regulations, what a lack of organization is. The court considered it proven that the money was impure origin. The post denies that she had no regulations and their employees would be done properly. It announced that it would appeal.