Thriving PostFinance

Press release dated 16.08.2012

PostFinance has been successful in the first semester of 2012. Profit amounted to CHF 296 million. Swiss Post’s financial institute gained 63,000 new customers who opened 134,000 new accounts. The customer assets it manages amounted to CHF 102 billion. In a difficult context, PostFinance created 42 new full-time jobs. Preparatory work for assigning PostFinance under the FINMA’s supervision is going as planned.

PostFinance generated a profit of CHF 296 million in the first semester of 2012. This was 9.5 percent lower compared to the same period of the previous year (CHF 327 million). This result was primarily due to the historically low interest rates on the financial markets. PostFinance sometimes deposits customer’s money interest-free at the Swiss National Bank, which heavily pressures the interest margin. The customer assets under management amounted to CHF 102 billion at the end of June.

New postal accounts and jobs

In the first semester of this year, PostFinance opened 134,000 new accounts and gained 63,000 new customers. All together, the financial institute had a total of over 2.85 million customers with almost 4.5 million accounts by the end of June. Half of the customers manage their finances electronically with e-finance: 1.4 million users have made PostFinance the number one in Swiss online banking. PostFinance once more increased the amount of full-time jobs between January and June 2012 – this time by 42 positions to 3,464.

On the way to PostFinance Ltd

The Swiss parliament had adopted a new Postal Organisation Act at the end of 2010. Amongst other things, it contains PostFinance’s transformation into a public limited company as well as assigning it under the supervision of the Swiss Financial Market Supervisory Authority (FINMA). The start as a public limited company is planned for the next year. The preparatory works are currently in progress. PostFinance will have a Board of Directors and its own internal auditing department. PostFinance AG will be provided with equity in accordance with the financial market requirements. The FINMA will determine its amount and the time of provision as part of the authorisation process.

PostFinance key figures Q2/2012 Q2/2011 2011
Company profit EBT (CHF million)
including associated companies (SIC, SECB)
296 327 591
Operating income (CHF million)
- Net interest income after losses
- Income from the commission and service business
- Income from the trade business
745
533
146
66
760
541
147
69
1,474
1,024
301
147
Operating expenses (CHF million)
- HR expenses
- Material expenses
446
239
207
424
225
199
872
446
426
Amount of customers (reporting date, in thousands) 2,874 2,738 2,811
Amount of customer accounts (reporting date, in thousands) 4,470 4,182 4,336
Customer assets (annual average, CHF million)  102,062 89,878 92,225
Funds and securities (reporting date, CHF million) 4,367 3,979 3,998
Mortgages from private customers (reporting date, CHF million) 3,918 3,444 3,684
Loans to business customers (reporting date, CHF million) 6,216 6,139 6,842
E-finance users (reporting date, in thousands) 1,415 1,280 1,350
Staff (full-time positions, annual average) 3,464 3,395 3,422
Millions of processed transactions (deadline, accumulated) 458 446 907

Swiss Post’s half-yearly result will be published on 30 August 2012.