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Bucharest
May 17, 2021
BUSINESS

Posta Romana and Nextebank negotiations on last stretch

Negotiations between the Romanian Post and Nextebank are in the last stage, and the intermediation of banking products and services at Romanian Post counters will start next year, Romanian Post CEO Alexandru Petrescu stated for Agerpres.
“We are at the end of negotiations with Nextebank. After the agreement is approved by the leadership of the two entities the document will be sent to the competent authorities for analysis. After the necessary approvals are obtained, we estimate that the intermediation of the bank’s products and services at the national post’s counters will start sometime in the first quarter next year. We maintain our belief that such a partnership, which has turned out to be extremely profitable for national post companies in Western Europe, will represent one of the secure sources of revenue for the Romanian Post,” Petrescu explained.
In the last year, the Romanian Post business lines have been improved with new services, mainly on the financial-postal, fast shipping, e-commerce or postal services segments. The Post’s own insurance broker was launched during this period too, which has already presented several insurance products in partnership with top insurance companies, targeting low-income categories.
Likewise, in the last year the Romanian Post has intensified its communication with the European Commission on the analysis of state aid elements in its own activity and on solving the company’s historic debt, whose payment is currently made in installments. At the end of last year the salaries of mailmen were hiked and a GPS monitoring system was implemented throughout the Romanian Post’s fleet of vehicles.
For this year the company announces an ample investment programme of over RON 55 M (EUR 12.3 M), a strategy that will continue in 2016 too, according to the company’s general director.
Founded in 1993, Nextebank is a traditional bank on the Romanian banking market. Emerging Europe Accession Fund (EEAF), indirect majority shareholder since 30 April 2014, is an investment fund that brings together important international financing institutions (multilateral development banks) and represents the third private equity fund administered by Axxess Capital.
As an investment fund administrator, Axxess Capital has an investment history of over 15 years in Romania and Central and Eastern Europe, which includes investment in over 35 companies in Romania and other South East European countries. Likewise, the Axxess Capital team has important experience in the financial-banking sector, with 10 successful investments in the financial services companies, of which 7 such investments made exclusively in Romania.

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