bpost and BNP Paribas Fortis confirm new seven-year commercial partnership
BNP Paribas Fortis becomes 100% shareholder of bpost bank, and this with the agreement of the relevant regulators and competition authority. The change of shareholding does not change anything for bpost bank customers.
Monday 3 January 2022In December 2021, the regulators (the National Bank of Belgium and the European Central Bank) gave the green light to a new partnership model between bpost and BNP Paribas Fortis. Today, the transaction, in which BNP Paribas Fortis acquires the 50% shares of bpost in bpost bank and therefore becomes 100% shareholder of bpost bank, has been finalised and the new agreement enters into force.
- It’s also the start of a new seven-year exclusive commercial partnership between bpost and BNP Paribas Fortis, whereby bpost continues to provide financial services and products in the post office network.
- In this new long-term partnership model, bpost has sold its 50% stake in bpost bank to BNP Paribas Fortis. The purchase price was calculated on the basis of the IFRS net asset value at the time of the transaction.
- The new commercial partnership between bpost and BNP Paribas Fortis will run from 3 January 2022 to 31 December 2028.
- For bpost bank customers, nothing changes: they will continue to receive excellent services in the familiar setting of the post office.
- Both BNP Paribas Fortis and bpost fulfil an important social role in Belgian society. They both also focus on long-term relationships, being close to customers and offering tailor-made solutions.
Long-term partnership
The original partnership for the provision of financial services in a joint venture was concluded in 1995, under the name ‘Bank van De Post’, today bpost bank. bpost bank is now an established player in the Belgian banking landscape. The terms of the former partnership expire on 3 January 2022.
Today, a new partnership model will start up between bpost and BNP Paribas Fortis in which BNP Paribas Fortis is 100% shareholder of bpost bank.
This new model perpetuates the long-term commercial relationship between BNP Paribas Fortis and bpost.
The customers of bpost bank will still be able to count on excellent service in the familiar setting of the post office. The sale transaction has no impact on the employment conditions of the staff of bpost bank and bpost.
bpost group
bpost is is Belgium’s leading postal operator and a growing parcel & omni-commerce logistics partner in Europe, North-America and Asia. Our 36,000 employees in Belgium and across the globe connect consumers, businesses and government, by delivering mail and parcels to millions of doorsteps and providing e-commerce logistics services. As a people- and planet-friendly company we create long-term sustainable value for our customers and shareholders. In 2020 bpost generated a turnover of EUR 4,154.6 million.
BNP Paribas Fortis
In BelgiumBNP 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
BNP Paribas (www.bnpparibas.com)is a leading bank in Europe with an international reach. It operates in 68 countries and has more than 193,000 employees, including nearly 148,000 in Europe. The Group has key positions in its three main activities: Domestic Markets and International Financial Services (whose retail-banking networks and financial services are covered by Retail Banking & Services) and Corporate & Institutional Banking, which serves two client franchises: corporate clients and institutional investors. The Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the European leader in consumer lending. BNP Paribas is rolling out its integrated retail-banking model in Mediterranean countries, in Turkey, in Eastern Europe and has a large network in the western part of the United States. In its Corporate & Institutional Banking and International Financial Services activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific.
