Deutsche Post and Postbank are planning for Postbank to take over and manage some 850 retail outlets with around 9,500 employees from the beginning of next year. More than 80 percent of Postbank’s new business stemming from the branch network is generated in these outlets. Talks with the Ver.di union in this matter are being held.

This step aims to further enhance the sales power of Postbank, which over the past years has become Germany’s leading retail bank. In 2004 alone, some 890,000 new customers were won. Particularly strong growth has been recorded in product categories that require intensive customer consultancy.

The long-term majority shareholding of Deutsche Post in Postbank is not affected by this measure. There will be no change in the offering of postal services to the customer in the affected branches and all legal requirements will continue to be met in the more than 12,000 retail outlets throughout Germany. The large branch network will continue to offer a broad range of services for Postbank customers.