DHL 1999 Annual Report Download - page 73

Download and view the complete annual report

Please find page 73 of the 1999 DHL annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 139

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139

Financial Services
81
Changes in investment behavior
The basic framework of the banking sector is changing
markedly. While the market is growing briskly, it is also
becoming more and more competitive.Since 1990,lend-
ing institutions have nearly doubled their business
volume. This growth is accompanied by three trends:
First, the behavior of German customers is changing.
They are becoming increasingly price-conscious, and
thus more open to switching banks.
Second, a shift in investment focus is becoming ap-
parent: while conventional investment options are still
in demand, interest in opportunities such as stocks and
investment funds is growing markedly.
Third, new forms of sales, such as telephone and elec-
tronic banking, are growing in importance and will
shape banking business in the future.As a result,success
in the financial services industry now depends centrally
on an adequately structured mixture of sales channels.
Postbank’s Forward Strategy
In June 1999, we launched the “Postbank Forward Pro-
gram”.The key points of this strategy include:
• Expanding the bank’s position as a true multichannel
bank that offers its customers the best possible avail-
ability,via a range of channels, including retail outlets,
telephone banking,the Internet and banking by mail;
• Expansion of the bank’s range of products – especially
through introduction of direct brokerage – and inten-
sification of the bank’s successful activities in invest-
ment funds;
• Reorientation of the bank’s IT systems, combined
with the aim of achieving major cost reductions.
Postbank made a major move toward these aims in 1999
through a highly effective reorganization, and all “For-
ward Program” projects have now been assigned to the
new corporate divisions. Thanks to this program, we
achieved savings of approx.EUR 25 million in 1999.
Postbank has already achieved a significant position as
the first true multichannel bank. Home banking via the
telephone, the Internet or T-Online complements the
retail-outlet services.Postbank now reaches its custom-
ers via the retail outlet network, call centers, the Inter-
net,mail and self-service terminals.
Within the scope of Postbank’s reorientation, both
expansion of the bank’s traditional business and devel-
opment of new business segments are envisaged. In the
conventional deposit banking and savings accounts
business, we offer products that truly shine in terms of
customer focus. To meet growing demands for new
types of investment opportunities, we have also inten-
sified our activities in the area of broadly diversified
investment funds.
In mid-1999, Postbank and the Federal Ministry of
Finance agreed that Postbank would acquire the
federal government’s stake in DSL Bank as of January
1, 2000. DSL Bank specializes in private and com-
mercial building loans and in issues of marketable
securities. This spectrum will complement Postbank’s
products and services and help enhance the bank’s
lending operations.
Financial Services
Corporate Division
“Integration of Postbank within Deutsche Post World Net is paving the way for Postbank to become one
of Germany’s leading retail banks. Postbank has capitalized on synergies in joint sales structures,making
it a highly capable multichannel bank. Based on its position as the German market leader in payment
services, Postbank adds to our product portfolio of standardized financial services for private and busi-
ness customers and financing of value-added logistics services.”