Press releases

PostFinance wins new customers and lifts profit

PostFinance is still firmly on course this year. It acquired 39,000 new customers and opened 73,000 new accounts in the third quarter. After nine months, profit amounts to CHF 463 million, and the average customer assets under management total CHF 90.5 billion. Since the beginning of the year, PostFinance has created 143 full-time positions throughout Switzerland.

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PostFinance's profit (EBIT) at the end of the third quarter 2011 amounts to CHF 463 million, slightly higher than the prior-year figure of CHF 456 million. Customer deposits rose to 90.5 billion francs on average. The difficult interest-rate situation in comparison with previous quarters resulted in the anticipated lower quarterly profit. In nine months, the financial arm of Swiss Post created 143 new full-time positions and is planning to increase headcount even further by the end of the year.

Strong growth in the third quarter

This year, 82,000 new customers have placed their trust in PostFinance so far. The total number of customers is thus 2.78 million. This growth was particularly strong in the third quarter, with 39,000 new customers and 73,000 new accounts opened. Overall, PostFinance has opened 176,000 new accounts this year.

No new investments on the capital market

Owing to low interest rates and the existing risks, PostFinance has not invested any new money in the capital markets for several months and is therefore not earning any interest from new financial investments. It therefore expects to see a modest profit trend in the last three months of the year from existing investments and a result for the year as a whole on a par with the previous year (CHF 575 m). The financial arm of Swiss Post currently has a good deal of liquidity with the Swiss National Bank and remains flexible in terms of further trends on the capital markets.

Key figures for PostFinance 30.09.2011 30.09.2010 31.12.2010
Company profit EBT (CHF million) incl. associated companies (SIC, SECB) 463 456 575

Operating income (CHF million)

Net interest income after writedowns

Net services and commission income

Net trading income


Operating expenses (CHF million)

Staff costs

General overheads

Number of customers (thousands on reporting date) 2‘777 2‘722 2‘695[1]
Number of customer accounts (thousands on reporting date) 4‘255 4‘033 4’079
Customer deposits (CHF m, annual average) 90‘540 83‘079 84’146
Funds and securities (CHF m, reporting date) 3‘996 3‘738 3’876
Mortgages for private customers (CHF m, reporting date) 3‘570 3‘043 3’197
Loans to business customers (CHF m, reporting date) 6‘463 5‘616 6’134
Users of e-finance (cut-off date, in thousands) 1,32 1,19 1,22
Headcount (full-time, annual average) 3‘408 3‘232 3’265
Millions of transactions processed (cumulative, reporting date) 664 651 894

1  figures adjusted after new calculation at end-June 2011

Swiss Post will communicate the result for the third quarter at the beginning of November 2011.

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