topics
tools
Expatica countries
Index Last Var.(%)
BEL 20 2129.95 0.50
DAX 6374.98 0.55
IBEX 30 6492.1 -0.78
CAC 40 3064.18 0.53
FTSE 100 5386.92 0.66
AEX 294.96 0.75
DJIA 12454.83 -0.60
Nasdaq 2837.53 -0.07
FTSE MIB 13142.53 -0.09
TSX Composite 11576.47 0.09
ASX 4120.2 0.96
Hang seng 18800.99 0.47
Straits Times 2786.75 0.50
ISEQ 20 503.48 0.51
You are here: Home News Spanish News More people banking at post

Spanish News

archive
Enlarge font Decrease font Text size


03/04/2009More people banking at post

Universal Postal Union says that postal banks are growing during the economic crisis.

GENEVA - Financial services offered by post offices are showing sharp growth amid worldwide economic turmoil, the Universal Postal Union said Thursday.

"Postal financial institutions are experiencing tremendous growth since the crisis began," said the UPU, citing a survey of 15 of the world's largest postal services and private courier companies.

Some post offices, such as Swiss Post and Deutsche Post, saw annual growth rates of over 50 percent in the number of savings accounts opened in 2008, said the 191-nation UN agency.

It also noted that a similar trend was more noticeable during the Great Depression of the 1930s when postal savings accounts jumped eight-fold in the United States.

Actual mail services, however, are suffering, with domestic volumes down 5.9 percent during the fourth quarter in 2008 compared to the same period during 2007. Revenues from express services fell 7.9 percent.

Only domestic package volumes remained stable, growing 1.1 percent in the fourth quarter due to record e-commerce sales.

AFP / Expatica


0 reactions to this article

Be the first person to add a comment

General rating: Not rated yet

Rate article:    Add my rating



0 reactions to this article

Be the first person to add a comment
Discussion Forums

Technology in Spain

Sat phones/internet links

English in Spain

What is the best travel insurance cover to Spain?

American in Spain

U.S. citizens, plan to vote in 2012? Did you know...

Relocation to Spain

thinking of moving to madrid

Jobs in Spain

Job Agencies or how to find work.

participate in the forums

Inside Expatica
Editor's Guide: Getting Started in Spain

Editor's Guide: Getting Started in Spain

Expatica's Getting Started section will provide practical information on how you can open a bank account, exchange your driving licence, improve your Spanish, and more.

Groups and Clubs in Madrid

Groups and Clubs in Madrid

Here's a guide to an extensive list of groups and clubs in Madrid for expats, from sports groups to social and family gatherings.

Groups and Clubs around Spain

Groups and Clubs around Spain

A brief introduction to our Tax section for Spain, from help with inheritance tax to accounting advice.

Groups and Clubs in Barcelona

Groups and Clubs in Barcelona

Here's a short introduction to our Banking section for those living in Spain, from what to ask the experts to opening a Spanish bank account.