Postgirot Bank is a Swedish bank, owned by Nordea. It operates Postgirot, one of two proprietary clearing systems used for regular transactions such as bill payments in Sweden.
Postgirot
Postgirot, was developed by Posten, the Swedish postal service, and for a long time it was wholly separate from the banking system which made transfers between the two systems difficult. The competing system Bankgirot was owned and operated by the banks.
The deregulation of postal services in Sweden prompted a sale of Postgirot, and initially there were plans to merge the two clearing systems, but it was halted due to objections from the Swedish Competition Authority. Instead Postgirot appied for a banking license and became a member of Bankgirot in 2002, enabling it to take deposits and make transactions with other banks. Following this it was acquired by Nordea.
External link
Postgirot Bank (http://www.postgirot.se/) - Official site
PostgirotBank, with 2,400 employees, has been run at a loss and with decreasing numbers of clients for some time, as have post offices all over the country.
In a bill submitted in spring 1999, the government made it clear that PostgirotBank had to be changed one way or the other in order to face the competition and restructuring that is taking place in the banking industry.
PostgirotBank is the largest participant in the Swedish payments market with an estimated share of over 40% of the domestic market.
Feeds |
Contact