Банкеръ Weekly

Briefs

BULGARIAN POST BANK CHANGES ITS IDENTITY

The clients of Bulgarian Post Bank will soon witness the change in its corporate identity. In the first place it is the new logo, where the yellow and black colour have been replaced by blue and brick. We stake on the blue colour which is a symbol of stability and trust all over the world, and on the brick colour, which symbolizes dynamics and agressiveness, the bank's Executive Director Panayotis Varelas said at a seminar in front of journalists. In the future the financial institution's name will be written only in English as Postbank. The labels are already being changed in the bank's local branches and offices. The beginning was laid in the Varna-based branch where the pilot project, changing the clients' notion of banking, was launched. A new position of a credit inspector, who will be monitoring the process of releasing loans, has been introduced as well.The effect of the novelties can be already felt. After the official opening of the Varna branch in end-May the number of clients went up by 300. A new service (so far unknown in Bulgaria) will be introduced in Postbank's Varna branch in about two months - depositing money through a card machine. The deposits in Postbank in end-August were 24% up from a year ago. Loans rose by 25%, and the so-called quick credits, whose allocation is allowed within 20 minutes, went up three times. Corporate credits account for 72.6% of all laons, extended to 115 big and 83 medium-sized firms. The bank's profit after payment of due taxes totalled BGN7.8MN in end-August, 77% up from the same month of 2002. According to projects for the near future, Postbank will soon have its own leasing company. Investments in new information technologies are going up. We'll introduce more alternative services, such as telephone and INTERNET banking, Mr. Varelas explained. The servicing standards are been controlled in the bank by the so-called mysterious buyer method. The person enters the bank as an ordinary client and puts various questions to the bank officials in order to assess their competence.According to Postbank's Executive Director, many students who are trained in the bank's apprentice programme, remain as employees in the financial institution. The new identity of Bulgarian Post Bank inlcudes financial support of various cultural events and of the Bulgarian education. The first one of them is the exhibition of young painters in the National Arts Gallery, opened on September 17, to last by October 1. The bank will buy some of the paintings which are in the two colours of its new logo - blue and brick. ACBH - a consortium between ALICO, a subsidiary of AIG Ins, and EFG Eurobank Ergasias - is a major shareholder in Postbank.

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