Bawag and Post Share 520 Branches

People ♦ Published: January 14, 2011; 00:08 ♦ (Vindobona)

Investments in the common branch network of the Austrian Post and the U.S. fund Cerberus owned Bawag are running.

Bawag and Post Share 520 Branches / Picture: ©

The cooperation between the Bank and the Post is taking shape. The common sales system contributes 120 branches to Bawag and a further 400 to the Post. By 2012, all 520 branches are to function jointly, announced the companies’ chairmen Byron Haynes (Bawag) and Georg Pölzl (Post).

The plan was announced three months ago and is now being implemented. The first joint location…