2009 was an excellent year for PostFinance. Profit (EBT) reached a new record at CHF 447.8 million. The 126,000 new customers who placed their trust in PostFinance during the last year represent another new record. Last year, the financial arm of Swiss Post created 153 new full-time jobs and intends to grow further in 2010. Compared with the previous year, PostFinance almost doubled its profit in 2009 (+89.8%), with Group profit (EBT) reaching a record level of CHF 447.8 million. This was driven mainly by higher income from interest business and consistent cost discipline. Although the interest level remains at a modest level, PostFinance increased its interest result (after writedowns) to CHF 905 m in 2009 (2008: CHF 598 m). The main factors were higher customer deposits, lower interest expenses and the long-term, cautious investment strategy, thanks to which writedowns declined to CHF 54 m (2008: CHF 189 m).

Over 10,000 new customers per month

Confidence in PostFinance is high. Last year, it acquired more new customers than in 2008. With 126,000 new customers, the customer base – like profit – achieved a new record figure. The number of customer accounts grew by 235,000. Customer deposits rose on average by CHF 73.3 bn over the year, an increase of CHF 20 bn compared with the previous-year average. Headcount also increased, in step with growth. PostFinance created 153 full-time new jobs throughout Switzerland.

Growth in all sub-markets

All segments in which PostFinance operates grew last year, some of them substantially. Mortgage volumes advanced by CHF 633 m – an increase of 31% – which was well ahead of the market. Savings in Deposito accounts increased from CHF 13.8 bn to CHF 20 bn by the end of the year (+46%), while funds in the investment sub-market rose by 51.1% from CHF 13.7 bn to CHF 20.7 bn.

Headcount continues to expand

PostFinance has done exceptionally well in the past five years, and customer deposits have almost doubled from CHF 41 bn to over CHF 73 bn. Over the next years, the financial arm of Swiss Post intends to continue growing profitably and to advance from its position as Switzerland's fifth-largest financial institution to become one of the top three. At the same time, PostFinance wants to retain its leadership in the Swiss payments business. It will continue to expand its sales, open new branches, and offer financial advice at 20 or 30 larger post offices. It will also create plenty of new jobs: there are plans to add 215 new and qualified full-time positions this year.

The annual results for Swiss Post and its Group units will be communicated at the press conference on 24 March 2010.