Albanian Post mulls setting up of Post Bank this year.

By bne IntelliNews August 2, 2010
Domestic postal service company Albanian Post has renewed its plans, first announced in 2007, to establish an Albanian Post Bank. The new lender will be set up by the end of 2010, company director Arqile Gorea said. Post Bank will offer the full range of services typically provided by local commercial banks. However, the main advantage of the new institution will be the full coverage of countrys territory, which existing banks cover only at 50% at present, Gorea added. Albanian Post currently offers a number of postal financial services including domestic and international money orders, as well as payments of pension and social security benefits, utility bills and taxes. The postal offices provide money transfer services through Eurogiro.

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