Public limited company and supervision by FINMA

PostFinance is the third-largest financial institution in Switzerland. However, it is not permitted to offer SME loans and mortgages under its own name in Switzerland, only in cooperation with partners. PostFinance is therefore obliged to invest its customer deposits on the international money and capital markets, in some cases outside Switzerland. Under the new postal legislation, which is due to enter into force at the end of 2012, PostFinance will still only be allowed to issue loans and mortgages in cooperation with partners. However, it is being transformed into a public limited company under private law and will be subject to supervision by the Swiss Financial Market Supervisory Authority (FINMA).