PostFinance is operating in a challenging economic and regulatory environment. As interest rates have been low or even negative for years, its interest margin is being eroded. One reason for this is the Postal Services Organization Act, which prevents PostFinance from issuing its own loans and mortgages. The policy decision made by the Federal Council on 5 September 2018 will not affect this situation for the time being. PostFinance will therefore introduce industry-standard prices for certain products and services which no longer cover costs from 1 January 2019.
“PostFinance believes that managing finances should be as easy as possible and that it should offer fair value for money. That will remain the case in future,” says Hansruedi Köng, CEO of PostFinance. “I know that our customers will not be enthusiastic about the new prices, and this is understandable. However, in light of the margin erosion and the significant decline in profit, we can no longer afford to provide services at prices which fall well short of covering our costs. We do however offer alternatives which would allow our customers to avoid some of the new fees.”