The Post launched into the consumer credit
March 31, 2010
Finally! Patrick Werner, CEO of La Banque Postale, did not hide his extreme satisfaction Tuesday in formalizing the debut of La Poste in the consumer credit. "With this launch, followed by the damage insurance at the end of the year, The Post Bank will be able to fight on equal terms with its competitors on the individual customer, welcomed there. His ambition? "In five to ten years, we are targeting a market share of 5% to 6% on outstanding amounts, which would represent 10 billion euros." By way of comparison, La Banque Postale captured in 2009, shortly more than 5% of the mortgage market in terms of stocks, that is to say stocks.
The network, which in 2006 only received the green light to offer housing loans without prior savings, however captures 8% of new production, that is to say flows.
The consumer credit will be even more expected among postal workers. The green light was given Bercy in November 2007. But it is far from the letter from Christine Lagarde at the counter. Over two years have been necessary to select a partner (Societe Generale), finalize agreements through a joint venture, La Banque Postale Financing (65% owned by La Poste), deploy information technology, consulting and training 17,000 other specialists and, of course, articulate supply.
"The duty to say no '
Finally, the launch comes at a time of crisis for consumer credit.The French market last year suffered a historic collapse, with a 13% drop in production of specialized institutions, most being penalized those who offer loans at the point of sale empire payday loans. In addition, the discussion that opens the Assembly is under the spotlight the dangers of this mode of financing, given the 216,000 new cases of indebtedness filed in 2009, up 15%.
Precisely why Patrick Werner sees a large window of opportunity for his bank, like no other: "We have anticipated and integrated this new legal environment in perfect harmony with our values," he promises. So exit the revolving loan, stigmatized as being most prone to drift.La Banque Postale offers at this stage, personal loans and repayment of loans (including real estate). Then she wants a rigorous flawless when granting loans. "We have the power to say yes, but sometimes having to say no," insisted the manager.
Finally, in case of slippage, "we signed an agreement with the experimental association Croesus to monitor proximity and ensure that people do in commission of indebtedness", describes Chantal Lory, CEO of La Banque Postale Funding.
In fact, the little hope that this new innovation in practice will enable it to expand the market for loan amortization. And with 32 billion euros of outstanding loans, facing 44 billion of deposits, the bank still has large reserves of internal resources for its development.
Sorry, comments for this entry are closed at this time.