DHL 1998 Annual Report Download - page 60

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56
One-stop postal and financial services
Our acquisition of Postbank with effect from 1 January 1999 added an
important building block to Deutsche Post’s strategy. The sale of financial
products and services increases branch utilization and generates oppor-
tunities for cross-selling. This acquisition also provides long-term security
for the joint sales network between Deutsche Post and Postbank. This in
turn is the basis for the rapid, aggressive implementation of our financial
services marketing strategy. Our aim here is to help Postbank become a
force to be reckoned with in the German retail banking sector.
When buying financial services, customers expect expert advice and dis-
creet service – in other words, qualified consultants and separate consult-
ing areas. We have responded to this customer wish with our new Center
branches, establishing a platform for actively acquiring new customers and
building customer loyalty.
Growing sales activities have already led to an increase in our share of
the savings market. After years of shrinking giro market shares, it was
possible to substantially slow this trend in 1998. The sale of home loan
and savings contracts from the Wüstenrot savings and loan association at
Deutsche Post retail outlets was launched in 1998. Actual sales volume
for the year outstripped our projections. Our first steps in the sale of
investment funds and in arranging home financing were also more than
satisfactory.
Our agenda for 1999 includes a substantial expansion of our range of
life and accident insurance products. We also plan to markedly increase
lending operations and introduce the sale of securities.
Our Postal Pension Service is a very special kind of financial service. We
offer all institutions that provide pension benefits – as well as company
pension schemes – a comprehensive, reasonably priced service package for
social security-related needs. The Postal Pension Service’s Postal Pension
Service Centers processed some 270 million domestic pension payments
worth a total of more than DM 320 billion on behalf of statutory pension
and accident insurance schemes and various company pension funds in
1998. In addition, some 13 million payments worth DM 6.8 billion were
made to recipients in 150 countries around the world. As a new service
to Germany’s statutory pension insurance scheme, information was also
furnished for the first time to authorized agencies for the purpose of
updating social security data.
Our acquisition of
Postbank created
a solid foundation
for the joint sales
network betw een
Deutsche Post and
Postbank
divisionRETAIL BRANCH