Minister of Interior seeks to open up post office cooperation to more banks

Minister of the Interior Marcel Chovanec has signalled that he wants to open the way to more banks to become the partner of the post office bank, Poštovní spořitelna. At the moment the exclusive cooperation rights are held by ČSOB but its contract expires in 2017. Business daily Hospodářské Noviny reported Tuesday that the minister would allow foreign as well as domestic banks to compete for the right to get access to around 2.0 million clients and a dense network of branches. Part attempts to open up the post office network to other banks have fallen foul to the fact that the post office is heavily reliant on ČSOB software and programs.

Author: Chris Johnstone