Italy's Poste targets at least 1.8 billion euros in 2018 postal savings fees
Reuters
Published Jan 18, 2018 18:51
Italy's Poste targets at least 1.8 billion euros in 2018 postal savings fees
MILAN (Reuters) - Poste Italiane (MI:PST) said on Thursday it aimed to reap at least 1.8 billion euros (£1.6 billion) in fees this year from selling postal bonds and certificates on behalf of state lender CDP.
State-controlled Poste last year signed a three-year distribution contract with CDP that awards the Italian post office between 1.55 billion and 1.85 billion euros depending on performance targets.
The targets for 2018-2020 factor in an average decrease of 4 billion euros a year in net inflows of postal savings, the head of Poste's banking division Andrea Novelli told an analyst call.
Novelli said the group was "extremely confident" it could reach those targets because in recent years it had been able to curb the drop in new postal savings.
Poste Italiane will present a new business plan under CEO Matteo Del Fante on Feb. 27.
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.