Cooperation with Poczta Polska S.A.

Bank Pocztowy acts in strategic partnership with Poczta Polska based on a program determining its key objectives and the ways to achieve them.

The strategic partnership assumes that the Bank will play a significant role in implementing the financial services development strategy in Poczta Polska Capital Group and develop a network of own outlets based on the infrastructure of Poczta Polska, dedicated to distribution of its products and services. According to the program, a new model of managing financial services and new and efficient sales model are introduced based on the network of outlets and employees of Poczta Polska.

Bank Pocztowy has a unique opportunity to use the network operated by Poczta Polska, consisting of approx. 7.8 thousand outlets (post offices and agencies) across the country. Since the own network of the Bank is located mostly within the infrastructure of Poczta Polska, its development is not capital intensive. In the case of greenfield outlets (without access to the Poczta Polska network), the necessary capital expenditure would be much higher than in the case of developing the network in the existing postal outlets. The development program provides the target number of 1,000 outlets dedicated to the sales of banking products and services (including 360 micro-branches and 640 Postal Finance Zones served by employees of Poczta Polska, dedicated solely to sales of financial and insurance products), which will be accompanied with a simplified structure of sales networks and a reduced number of management levels.

Access to Poczta Polska outlets located across the country, including small towns and villages, where no other banks operate to provide competition, the Bank has successfully acquires clients from its target segments. Strategic plans of financial services development include further improvement of sales efficiency in Postal Finance Zones with business indicators aimed at the levels generated in Micro-branches.
Agency agreement is the key type of agreement underlying the sales of Bank’s products and services. According to such agreement, the network of Poczta Polska outlets sells among others savings accounts, business and savings accounts, term deposits, cash loans for individuals, loans for micro-enterprises, credit cards and the related services. Access to the postal sales network and infrastructure allows the Bank providing corporate clients with variety of services, to include payment orders for counterparties (among others through Money Gram), payments to client and own accounts (the so-called wpłaty otwarte and wpłaty zamknięte) as well as cash processing services.

Further, Poczta Polska is the Bank’s client provided with comprehensive financial services. Cash payments accepted in Poczta Polska network and transferred to bank accounts of beneficiaries, including Social Insurance Institution and Tax Offices (transferred funds) and cash payments to third parties indicated by Bank’s clients performed in Poczta Polska are significant sources of commission revenue for the Bank.

The cooperation with Poczta Polska is regulated by a series of agreements regarding key cooperation areas. They have been concluded on market terms and almost all for an unlimited period.