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The Group’s operating sectors The Group’s activity is divided into four operating sectors.

The Group’s activity is divided into four operating sectors supervised by functions and/or companies of the Group: Mail, Parcels and Distribution, Financial Services, Insurance and Payment Services, Mobile and Digital, which include, amongst others, mobile services.

In particular, the Group’s organisation is based on commercial channels respectively dedicated to retail and business customers and to the Public Administration. Corporate steering, governance, control and service supply functions always flank the commercial areas in support of the business processes.
As regards the spectrum of financial services offered by the Company, BancoPosta is currently one of the main players in Italy which, over time, has based its strategy on constantly consolidating its offer of services for families. To be specific, BancoPosta’s main activities are:
  • active management of the liquidity portfolio collected from private and public clientele, with the related uses;
  • the Postal Savings collection and management service provided by Cassa Depositi e Prestiti (postal savings certificates and savings books);
  • collection and payment services (also called “transaction banking”) such as by postal order, F24, national and international postal money order and Moneygram and Eurogiro circuit services;
  • placement and distribution, through its distribution platform, of financial products issued by third parties or other Group Companies such as:
• managed savings investment (portions of open real estate mutual investment funds established by BancoPosta Fondi SGR);
• investment of administered savings;
• Poste Vita and Poste Assicura insurance policies;
• third party and credit card loan products;
• e-money services through issuing debit cards (Postamat) and prepaid cards (Postepay).

Postal Savings as a form of social inclusion

Postal Savings have always been linked to the history of Italian people, a history that has led to the image of a “safe deposit box” for savers to be permanently associated to the Company, also thanks to its ample and qualified offer of investment products. In particular, the circulation currently reached by Postal Savings is possible thanks a wide variety of Poste Italiane’s products clearly differentiated from the most competitive ones due to the following characteristics:
  • security: all of the invested Capital and any accrued interests are guaranteed by the Italian State;
  • Convenience: Postal Savings products are exempt of costs. In other words there are no management costs or commissions for subscribers, with the exception of charges of a fiscal nature;
  • simplicity: Postal Savings investment solutions are easy to understand;
  • liquidity: Postal Savings products do not expose the saver to a possible risk of losing invested capital and any accrued interests;
  • ethical value: the Postal Savings collection funds are invested to sustain the growth of the Italian economy and contribute to the nation’s growth;
  • capillarity of the presence of Post Offices: the massive presence of the network of Post Offices throughout the national territory favour greater financial literacy of the clientele and allow its familiarity with the world of Postal Savings.

Since 1875, Postal Savings have introduced various types of products - Postal Savings Certificates, Postal Savings Books and Savings Plans – aiming at meeting the various necessities and multiple requirements of customers by availing of the considerable capillarity of the Post Office network.

Developments in the product range have allowed a higher number of people to set aside resources for the future, in order to protect themselves in times of economic uncertainty, at the same time favouring the funding of the nation’s development activities (building schools, hospitals, roads and support for enterprises) thanks to the funds raised by Cassa Depositi e Prestiti (CDP).

The Postal Savings agreement with Cassa Depositi e Prestiti

In December 2017 - at the Ministry of Economy and Finance - the Managing Director of Cassa Depositi e Prestiti (CDP) and the Managing Director of Poste Italiane proceeded with the subscription of an agreement concerning the Postal Savings service for the three-year period 2018-2020.

This agreement renews an alliance thanks to which the savings of Italian people have been transformed into a driving force of development and growth for over a century, contributing to the increase in strategic investments and the enhancement of the nation’s competitiveness.

On the one hand, the new agreement aims at consolidating the role of the Postal Savings Certificates and Postal Savings Books among the key savings products for Italians and on the other to innovate and expand the range of offered services. Indeed, by this agreement, CDP and Poste Italiane aimed to relaunch Postal Savings by repositioning Certificates and Books, envisaging more investments in technology, communication, promotion and training in order to reach an increasingly wider base of savers, making these products an opportunity to save and invest. Thanks to their reimbursement flexibility, State guarantee and total absence of costs, Certificates and Books, unique savings products in the financial context, as well as among the most circulated in Italy: 321 billion Euros – of which about 212 billion Euros is in Certificates and about 109 billion Euros deposited in Books – and about 26 million total clients holding Books and Certificates. Remuneration in favour of Poste Italiane is linked to reaching annual net savings targets.

The managed savings partnership with Anima Holding

In December 2017 Poste Italiane and Anima Holding signed a new binding agreement to consolidate the pre-existing partnership in the managed savings sector, confirming their interest and mutual commitment in order to extend and systemize their collaboration.

The operation envisages a partial demerger of the asset management activities underlying Line 1 insurance products (exceeding 70 billion Euros) owned by BancoPosta Fondi SGR in favour of Anima SGR, for a value equal to 120 million Euros. Collaboration agreements shall also be reviewed and expanded between Poste Italiane and Anima Holding and, thanks to the latter, the training and updating activity regarding Poste Italiane’s distribution network shall be strengthened in relation to managed savings and as well as to the range of Post Office’s products which will be significantly expanded in order to meet Italian savers’ requirements.
Poste Italiane is also present in the insurance sector through PosteVita, an Italian Insurance Company specialised in life insurance plans and now also active in the non-life insurance sector. Furthermore, PosteVita offers investment and saving products through its distribution platform registering a continuous growth in terms of managed savings accounts. Details of the Company’s activity structure are given below:
  • Life Insurance: PosteVita, active since 1999, is the Italian leader in the Life Insurance in terms both of size and quality of its offer. It stands firm in first place as a single enterprise and third place as an Insurance Group in the Life line in Italy whereas it is the third placed insurance group in the total market (Life and Non-life) in Italy;
  • Non-life Insurance: with Poste Assicura, established in 2010 and controlled by PosteVita, the Group is present in various lines of the sector: accidents and health, civil and general liability, fire, other damages to assets, assistance, legal protection and pecuniary losses. Moreover Poste Italiane has recently expanded its offer in order to meet insurers’needs both in welfare and healthcare fields. It is expected that Poste Italiane non-life insurance market will offer an increasing potential for further development;
  • managed savings: BancoPosta Fondi SGR is the Group’s savings management Company. It manages open Real estate mutual investment funds and has produced significant returns over time, especially in the management of Eurozone State securities and corporate bonds. Managed savings are part of the activities on which Poste Italiane is relying for its future growth, aiming to propose simple, clear and well-made products, cultivating the relationship of trust with its customers.
In the sector of mail and logistics, Poste Italiane has been able to interpret its original mission in a modern context by means of a series of investments aimed at keeping its infrastructures up to date and capable of meeting the changing requirements of its customers.

The main activities associated to mail, parcels and distribution in Poste Italiane are:
  • mail: since 1862 Poste Italiane has delivered letters to Italian families and enterprises. Today it is the first postal operator in Italy to be exclusively assigned with the Universal Postal Service in our country. The assignment of such service, which includes delivery of mail and parcels to all Italian residents, was renewed by the competent authorities for 15 years starting from April 2011. A multichannel distribution platform is used for deliveries which is based on 12,822 Post Offices and 28,635 Postmen/women;
  • technological solutions: in order to keep abreast of market developments linked to digitalisation, Poste Italiane has for some time invested in hybrid mail, a service allowing a digital document to be “materialised” and then delivered to the recipient in paper format. It is also avant-garde in electronic communications and the Cyber Security sector, having solutions able to guarantee the integrity and certification of digital communications and of transactions;
  • parcels: the development of e-commerce has bestowed considerable impetus upon the parcels market. This was particularly reflected in the Express Courier, Logistics and Parcels segment which has experienced constant growth in volume and revenue and which now represents a strategic sector for the growth of Poste Italiane. In 2016 the Group began its partnership with Amazon for the delivery of small sized parcels (less than 5kg) all over the country through the postmen/women network.
The Payments, Mobile and Digital operating sector encompasses the activities performed by PosteMobile S.p.A. and the Consorzio per i servizi di telefonia Mobile ScpA consortium.

PosteMobile is the Group’s mobile operator which has gradually changed from an Enhanced Service Provider (so-called ESP) model to a Full Mobile Virtual Network Operator (Full MVNO) model, in line with its development path.

© Poste Italiane 2019 - VAT registration number: 01114601006

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