Negative interest rates and fees – postal Finance to run the customer davonDie Post has earned in the first quarter significantly less. And in the case of the Bank subsidiary, the price to beat increases in the number of customers to beech.Holger Alich53 Kommentare53Wegen increased fees have left thousands of customers of the Bank subsidiary to the back: the post office of the branch Sihlfeld.Photo: Christian Beutler (keystone sda)
negative interest rates are not only for savers can be a Nuisance. Also, the Swiss Post and its Bank subsidiary, Postfinance suffer. In the first quarter, interest income fell by CHF 18 million. This is in addition to the volume decline in the mail business, one of the reasons why the net profit of the Post from January until the end of March fell by a third to 84 million Swiss francs.
Since the post of Finance may invest the customer’s money is becoming less and less profitable in the bond market, the Bank subsidiary against tax. So post Finance charged to private clients negative interest rates, if they have more than 250’000 francs to the account.
According to a spokesperson for the criteria in which private customers, for once, from a threshold of 500’000 Swiss francs can benefit from March, “again” has been tightened. Furthermore, Postfinance had already increased at the beginning of last year, the fees. The account management costs since then, with few exceptions, 5 francs a month.
clients pulled 3.4 billion Swiss francs of funds from the Swiss post subsidiary.
This deterioration of the conditions by hitting on the volume of customer deposits, as well as on the number of customers. In the first quarter alone, Postfinance lost in the year compared to 85’000 customers. In addition, customers are attracted 3.4 billion francs of funds from the Swiss post subsidiary.
in Order to improve the net interest income in the future, hopes, Postfinance, that the legislature allowed the yellow giant started in the business of mortgage loans. This is, however, politically controversial.
Earlier post Finance was the most important profit pillar of the yellow giant. Now it is the letter business the Post and still benefits from a partial monopoly. Because of the Corona-crisis post car was in the red.
For the full year, the Post expected due to the Corona-crisis to have a negative effect on earnings in the three-digit million amount. The main reasons for the decline in letter volumes, as well as the lack of earnings in the post-car to be. The growth in parcel business will not be able to offset the negative factors. And also in the case of post Finance is not a quick turn for the Better is in sight.
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