Bulgaria's Post Offices Could Host Commercial Banks' Branches

Business | September 24, 2013, Tuesday // 18:29|  views

Bulgaria's post stations could host bank offices. Photo by Sofia Photo Agency

Bulgarian Posts EAD' stations may also be used for banks' offices, officials have suggested in a bid to avoid their closure.

"Postal offices could sign agreements to host commercial bank branches in order to avoid closure," announced at a press conference Bulgaria's Transport and Communications Minister Danail Papazov.

The minister said that he will request an additional BGN 6.5 M from the budget to be distributed by the government to the mail company.

The enterprise has already received an additional BGN 2 M when it became clear that this year's state aid won't be enough to cover expenses.

Papazov further reiterated his commitment to a healing program for the company.

Bulgarian Posts EAD is in dire financial condition and many of its offices are facing closure.

Since privatization of the state owned enterprise is not an option for the government at the moment, the company's management is considering various options to stabilize the firm.

"In order to survive, the post offices should be relocated to shopping malls and hypermarkets", suggested a few days ago Plamen Petrov, CEO of the state-owned postal service company.

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Tags: Danail Papazov, mail, Bulgarian Posts, privatization, banks, office rental, office space


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