Poland wants the state-run postal group Poczta Polska to expand into consumer finance and insurance to revive revenues, but has no plans to privatise it, a deputy minister overseeing the company said to Reuters.
The group has seen revenues decline over the last few years as its traditional business of delivering letters has been undercut by the rapid growth of parcel delivery services and other private competitors.
„We want to develop the services offered by the post office; that is, Bank Pocztowy (Post Bank) and insurance.” Kazimierz Smoliński of the infrastructure and construction ministry told Reuters in an interview last week. „There is huge potential in Poczta Polska. No bank, no insurance company has so many outlets as Poczta Polska, especially in smaller towns,” he said.
