bpost and BNP Paribas Fortis announce new partnership model for bpost bankWednesday 23 December 2020
- bpost and BNP Paribas Fortis today signed a non-binding letter of intent expressing the intention of BNP Paribas Fortis to acquire bpost’s 50% holding in bpost bank and become its sole shareholder.
- bpost and BNP Paribas Fortis wish to develop a seven-year commercial partnership in which bpost continues to provide the range of financial services across its post office network.
- This intention will be set down in a binding agreement in the spring of 2021. The aim is to finalize the whole transaction by the end of 2021.
- Nothing will change for bpost bank customers: they can continue to expect the same outstanding service in the familiar and trusted post office setting.
- Both BNP Paribas Fortis and bpost play an important social role in Belgian society and are committed to long-term relationships, close to and tailored to the customer
Partners since 1995
bpost and BNP Paribas Fortis can pride themselves on their successful bpost bank joint venture, a partnership for the provision of financial services going back to 1995. Originally trading as “Banque de la Poste/Bank van De Post” when formed in 1995, over the past 25 years bpost bank has grown into a trusted name on the Belgian banking market. The term of the current partnership is set to end on 31 December 2021.
Today bpost and BNP Paribas Fortis announce their intention to change their current (50/50) partnership in bpost bank. In the future partnership between bpost and BNP Paribas Fortis bpost would continue to offer the financial products across its post office network and BNP Paribas Fortis would acquire bpost’s share in bpost bank, becoming its sole shareholder. The aim is to finalize the whole transaction by the end of 2021, subject to all approvals.
Through this long-term partnership, bpost and BNP Paribas Fortis bolster their sustainable commercial relationship. The provision of financial services in a post office network that is close to customers is fully in line with the proximity strategy of both partners.
That means that nothing would change for bpost bank customers: they can continue to expect the same outstanding service in the familiar and trusted post office setting.
The transaction will be subject to the customary conditions, including competition and regulatory approvals.
About bpost group
bpost is the leading postal operator in Belgium and a parcels and e-commerce logistics service provider in Europe, North America and Asia. We deliver mail and parcels to millions of customers, as well as providing logistic services to businesses and consumers. bpost employs more than 34,000 people in Belgium and generates total global revenues of 3,837.8 million euros. At the same time, we are steadily reducing our environmental impact and improving the life of the communities we serve.
About BNP Paribas Fortis
In Belgium BNP Paribas Fortis (www.bnpparibasfortis.com) markets a comprehensive range of financial services to residential customers, the self-employed, professionals, enterprises and the public sector. In insurance BNP Paribas Fortis works closely, as a tied agent, with AG Insurance, the leader on the Belgian market. The bank also provides personalized solutions to high-net-worth individuals, large enterprises and public and financial institutions around the globe. In doing so, it draws on the knowhow and global network of BNP Paribas.
BNP Paribas (www.bnpparibas.com) is a leading bank in Europe with a strong international reputation. It is present in 71 countries and employs more than 199,000 people, around 151,000 of them in Europe. The group holds key positions in its three core businesses: Domestic Markets and International Financial Services (whose retail banking networks and financial services are managed by Retail Banking & Services) and Corporate & Institutional Banking, which is focused on corporate and institutional clients. The group helps all its clients (residential clients, charities, entrepreneurs, SMEs, large enterprises and institutional clients) to put their plans into practice by providing financing, investment, savings and insurance services. The group has four home markets in Europe (Belgium, France, Italy and Luxembourg), while BNP Paribas Personal Finance is the European leader in consumer credit. BNP Paribas develops its integrated Retail Banking model in the Mediterranean Region, Turkey and Eastern Europe, and has an extensive network in the western United States. In Corporate & Institutional Banking and International Financial Services, BNP Paribas is a European leader, has a strong presence in North and South America, and is experiencing solid, fast growth in Asia Pacific.
Press contacts bpost :
Fanny Charpentier - +32 (0)492 23 93 00 - [email protected]
Veerle Van Mierlo - +32 (0)472 92 02 29 - [email protected]
Press contacts BNP Paribas Fortis :
Hilde Junius - +32 (0)478 88 29 60 - [email protected]
Pamela Renders - +32 (0)477 39 99 79 - [email protected]
Valéry Halloy - +32 (0)475 78 80 97 - [email protected]