Dutch-Belgian financial services group Fortis has entered into negotiations with the Irish Post Office An Post to offer bank and insurance product to post office customers.
The joint venture is similar to one Fortis has with the Belgian post office bank, Banque de la Poste. Fortis said that the venture is part of an overall strategy to expand into growth markets such as Ireland, capitalizing on the model it has already developed in offering bancassurance.
Jos Clijsters, CEO of Fortis retail banking, commented: An Post is a well-known brand with a large network, a dynamic management and a customer-oriented organization. We’re confident that we can jointly strengthen the offer, increasing the choice of the Irish customer for bank and insurance products.