Estonia, Financial Services, Post Office, Transport

Aavo Kärmas, a member of the management board of the postal company, noted that financial services play an important role in Estonian Post’s variety of services.

“The network of Estonian Post’s postal offices is more than three times bigger than the network of bank offices of all banks in Estonia combined; this will give us a good opportunity to offer bank services after various bank offices are closed down,” said Kärmas.

“In the past few years, banks have closed down dozens of offices in small towns whereas there are post offices in all Estonian municipalities where financial services can be provided – this is a remarkable opportunity for banks to reach people in rural areas,” he added.

Kärmas noted that their enterprise is prepared to negotiate with local as well as international partners that could be interested in providing financial services via the Estonian Post’s retail network. “Before the end of this year, we will review our retail network strategy and will try to find the best solution for providing financial services in postal offices,” he said.