Belgian postal operator bpost will divest 50% of its holding in bpost bank to BNP Paribas Fortis at the end of this year as part of a new seven-year partnership between the parties, in which bpost will continue to provide the range of financial services across its post office network.
The new agreement means BNP Paribas Fortis will becoming the sole shareholder in bpost bank. The aim is finalize the transaction by the end of 2021 and the commercial partnership will run from January 1, 2022, to December 31, 2028.
This new agreement continues the long-term commercial relationship between BNP Paribas Fortis and bpost, whereby bpost will act as agent of bpost bank and BNP Paribas Fortis. This is fully in line with the proximity strategy of the two partners.
bpost bank customers can continue to expect the same service in the post office setting, and the transaction will have no impact on the conditions of employment of bpost bank and bpost employees.