Launching bank remains priority goal of Ukrposhta – CEO

Launching a financial inclusion bank remains a priority goal and task for the national communications operator JSC Ukrposhta, said its CEO Igor Smelyansky.

"As the classic said: the goals are clear, the tasks are defined - get to work, friends!" he wrote based on the results of the assessment of Ukrposhta at the World Postal Congress in Dubai, where, according to him, the company, while leading the world in most indicators, lagged far behind other countries in terms of business model compliance - only 21 out of 100 points, although this is more than 9.9 points last year.

"And all because we have not yet launched a financial inclusion bank - and that is why we are lagging behind the 87 post offices in the world that have already done so. These are not my words - these are the conclusions of UPU [Universal Postal Union] experts. At the congress, India Post showed that its bank already has 121 million customers. Italy Post owns up to 80% of all deposits in the country," said Smelyansky.

As reported, in August, the National Bank announced that Ukrposhta lacked capital to create a bank.

According to the CEO of Ukrposhta, at the congress in Dubai, the company received the Rising Star Award for the fastest progress according to the Postal Development Index (2IPD).

He specified that the reliability indicator increased from 82.6 to 91 points due to the on-time delivery indicator of 90%, which in recent months has increased to 98%, and the launch of 24 automated sorting centers.

Smelyansky added that the delivery geography indicator of Ukrposhta jumped from 31.6 to 87.9 points due to the coverage of 100% of the territory of Ukraine, including front-line territories, and 192 countries for export, and the business model sustainability indicator increased from 78.1 to 85.4 points due to the development of mobile infrastructure, satellite communications, and fleet diversification.