Posta Romana links deal with Patria Bank for retail operations

Alexandru PETRESCU

CEO Romanian Post

Art_1The state-owned postal operator Posta Romana will sell retail bank products, after the National Bank of Romania has approved the request of Patria Bank.

Posta Romana said the banking products will be sold in selected branches across Romania. It will be first rolled out as a pilot project and its expansion should accelerate next year.

Alexandru Petrescu the general director of Posta Romana, said this deal was part of a wider modernization program undertaken by the company, in line with the corporate governance principles.

“The financial services will represent, alongside other business projects that were already initiated, a future alternative that should make up for the reduction trend in the mail market, “said Petrescu.

The main shareholder of Posta Romania is the Ministry for Information Society with a 75 percent stake, while the closed-end fund Fondul Proprietatea has the rest.

The company controls 80 percent of the postal offices in Romania.

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