2010 was a good year for PostFinance: profit (EBT) rose by 28 percent to CHF 575 million. Last year, PostFinance increased its profit (EBT) to CHF 575 million, a rise of 28 percent (CHF 126 million) on the previous year. Despite the difficulties on the financial markets, good interest income was one of the main factors leading to this excellent result, along with cost discipline. Last year, PostFinance increased its net interest income after writedowns to CHF 1,044 million (previous year: CHF 905 million). This was mainly due to higher customer deposits, lower interest expenses and its long-term prudent investment strategy.
Annual result 2010: Increased profit and a rise in customer deposits
10,000 new customers every month
Last year 119,000 new customers placed their trust in PostFinance (previous year: 126,000). The number of customer accounts rose by 198,000, so that PostFinance now manages almost 4.1 million customer accounts. Customer deposits rose by CHF 11 billion, or 15 percent, to CHF 84 billion. In addition to increasing its customer numbers, PostFinance also created 223 new jobs, bringing the number of FTEs to 3,265 at the end of 2010. This means that since its creation in 1999, PostFinance has more than doubled its workforce.
2010 centimes as a thank you to customers
Over the twelve-month period, monies in Deposito accounts rose from CHF 20 billion to CHF 26 billion (+30%). This CHF 6 billion accounts for almost half the total new customer deposits received last year. Funds in the investment sub-market also rose, from CHF 21 billion to CHF 23 billion (+10%). Such is the scale of customer deposits that PostFinance wants customers to share in the success it achieved in 2010. Anyone who received credit interest on one or more Deposito or e-Deposito accounts on 31 December 2010 will receive 2010 centimes (CHF 20.10) per account. Euro account holders will receive 2010 cents. The amount will be transferred to the account holders in March. This gesture is a way for PostFinance to thank its customers for their loyalty.
Course set for becoming a public limited company
Parliament passed a new Postal Organization Act on 17 December 2010. This stipulates among other things that PostFinance will be transformed into a public limited company subject to supervision by the Swiss Financial Market Supervisory Authority (FINMA). The Federal Council will decide on exactly when the transition will take place. Preparatory work for creating the new legal form is currently underway. PostFinance will have a Board of Directors and its own internal auditors. PostFinance AG will be provided with equity in line with the requirements of financial market law. FINMA will decide how much equity is to be provided, and when. In accordance with banking law, PostFinance requires approval for FINMA supervision. This will be sought from FINMA during the current year. Even when this approval has been granted, PostFinance will not be allowed to grant loans or mortgages under its own name.
Key figures for PostFinance | 2010 | 2009 | Delta |
---|---|---|---|
Key figures for PostFinance Company profit EBT (CHF m) incl. associated companies (SIC, SECB) |
2010 575 |
2009 448 |
Delta 126 |
Key figures for PostFinance Income from business operations (CHF m) - Net interest income after writedowns - Commission and service income - Net trading income |
2010 1,440 1,044 267 129 |
2009 1,281 905 301 106 |
Delta 159 139 -34 23 |
Key figures for PostFinance Operating expenses (CHF m) - Staff costs - Non-staff costs |
2010 857 419 438 |
2009 826 395 431 |
Delta 31 24 7 |
Key figures for PostFinance Number of customers (thousands on reporting date) |
2010 2,750 |
2009 2,631 |
Delta 119 |
Key figures for PostFinance Number of customer accounts (thousands on reporting date) |
2010 4,079 |
2009 3,881 |
Delta 198 |
Key figures for PostFinance Customer deposits (CHF m, annual average) |
2010 84,146 |
2009 73,273 |
Delta 10,873 |
Key figures for PostFinance Funds and securities (CHF m, reporting date) |
2010 3,876 |
2009 3,352 |
Delta 524 |
Key figures for PostFinance Mortgages for private customers (CHF m, reporting date) |
2010 3,197 |
2009 2,673 |
Delta 524 |
Key figures for PostFinance Loans to business customers (CHF m, reporting date) |
2010 6,134 |
2009 5,423 |
Delta 711 |
Key figures for PostFinance E-finance users (reporting date) |
2010 1,220,000 |
2009 1,101,600 |
Delta 118,400 |
Key figures for PostFinance Headcount (full-time, annual average) |
2010 3,265 |
2009 3,042 |
Delta 223 |
Key figures for PostFinance Millions of transactions processed (cumulative, reporting date) |
2010 894 |
2009 865 |
Delta 29 |
Contact
PostFinance Media Unit
058 338 30 32