Postbank to pull out by year-end

FINANCE company Postbank, which operates in about 1,000 of the country’s post offices, is to pull out of Ireland by the end of the year.

A joint initiative between An Post and French BNP Paribas Fortis, the company has about 170,000 customers and said the decision was a commercial one.

The Financial Regulator yesterday confirmed that An Post savings accounts will not be affected by the decision and that it was working with Postbank to ensure customers’ interests were protected in accordance with the Consumer Protection Code.