PostFinance

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PostFinance
Type Subsidiary (of Swiss Post)
Industry Banking
Financial services
Founded 1906
Headquarters Zürich & Basel, Switzerland
Area served Switzerland & France
Key people Jürg Bucher (Chairman)
Products Investment Banking
Investment Management
Wealth Management
Private Banking
Corporate Banking
Private Equity
Finance and Insurance
Consumer Banking
Mortgages
Credit Cards
Operating income CHF 2.2 billion (2009)[1]
Net income Increase CHF 447.8 million (2009)[1]
Website postfinance.ch

PostFinance was founded in 1906 and is the financial services unit of Swiss Post. It is the fifth[citation needed] largest retail financial institution in Switzerland. Its main area of activity is in the national and international payments and a smaller but growing part in the areas of savings, pensions and real estate.

On 26 June 2013, the Swiss Financial Market Supervisory Authority (FINMA) granted a licence to PostFinance to become a bank, making it the 5th largest bank in Switzerland.[2]

Wikileaks involvement[edit]

On 6 December 2010, in the wake of the leak of American embassy cables by WikiLeaks, PostFinance announced that it had closed an account in the name of WikiLeaks founder Julian Assange because he did not reside in Geneva as he had claimed when opening the account.[3]

In response, PostFinance's website was hit by denial of service attacks,[4] and Swiss prosecutors announced that they were investigating whether PostFinance violated Swiss secrecy laws by announcing the closure of Assange's account.[5]

References[edit]

  1. ^ a b Key figuresaccount, PostFinance, retrieved 26 December 2010 
  2. ^ Swiss Post to become a public limited company, PostFinance Ltd granted a banking licence PostFinance Press Releases. Retrieved on 7 September 2013.
  3. ^ http://worldradio.ch/wrs/news/wrsnews/postfinance-shuts-down-wikileaks-bank-account.shtml?22134
  4. ^ "Hacker attacks on PostFinance are no joke". Swissinfo. 11 December 2010. Retrieved 12 December 2010. 
  5. ^ "Authorities probe Swiss Post over Assange bank account". AFP. 12 December 2010A. Retrieved 12 December 2010. 

External links[edit]