Ad hoc: Deutsche Post and Deutsche Postbank initiate branch project10/06/2005
Deutsche Post and Deutsche Postbank are planning for Postbank to take over and manage c. 850 branches with around 9,500 employees from the beginning of next year on. More than 80% of Postbank's new business stemming from the branch network is generated in these c. 850 branches. Talks with the Ver.di union in this matter are being held.
This step aims to further enhance the distribution platform of Postbank which over the past years has become the leading retail bank in Germany. Advisory products and services in particular experienced strong growth.
The longterm majority shareholding of Deutsche Post in Postbank is not affected by this measure. There will be no change to the offering of postal services in the affected branches and all legal requirements will continue to be met in more than 12,000 branches throughout Germany. The dense branch network will also continue to offer a broad range of services for Postbank customers.