Q3 2016: Swiss Post’s profit declines in third quarter
In the first three quarters of 2016 Swiss Post generated a Group profit of 466 million francs (previous year: 503 million francs). Operating profit (EBIT) decreased from 640 million to 593 million francs.
Financial services: PostFinance makes changes to interest rates and fees
Interest rates on national and international markets continue to be at historic lows and are mostly even in the negative. Due to the lending prohibition, it is becoming increasingly difficult for PostFinance to find profitable investments for the customer deposits entrusted to it. As a result, it loses out on income equivalent to a figure in the double-digit millions each year. At the same time, ever stricter regulations are leading to higher expenses and costs. The financial service provider has therefore decided to increase the fees for individual products which are no longer covering costs, to reduce interest rates on accounts and interest limits, and to extend the fee on the credit balance.
24.10.2016, Johannes Möri, Bern
PostFinance acquires participation in Swiss fintech Tilbago
On 24 October 2016, the Lucerne-based fintech company Tilbago is launching software with the same name for processing debt collection proceedings. PostFinance has acquired a minority interest in Tilbago AG and will combine the solution with its accounts receivable management tool, PostFinance Smart Business.
16.09.2016, Johannes Möri, Bern
Working capital management: Working capital management
Swiss Post and PostFinance have given the “Swiss WCM Award” for the third time. Two companies were awarded the prize for their pioneering role in different service fields relating to working capital management.
12.09.2016, Johannes Möri, Bern
EFT/POS transaction fees: PostFinance and price regulator reach agreement
As of 1 January 2017, PostFinance will lower transaction fees for cashless payment at points of sale (EFT/POS) for certain business customer segments. After a period of negotiation, the financial service provider and the price regulator have reached a mutual agreement. As a result of this agreement, PostFinance’s revenue from EFT/POS transactions will fall by around four million francs a year in 2017 and 2018.