Financial services firm Fortis has signed a memorandum of understanding with Ireland's An Post, with the aim of making banking services available in post offices throughout Ireland.
The two groups are forming a joint venture that will extend Fortis’ financial products to An Post’s post office network. The companies said that they expected the final agreement to be made by the summer.
No further details of the deal were disclosed by either company.
The deal should benefit both groups. Fortis has a presence in 44 countries and has been targeting further expansion, while An Post has been looking for ways to open new revenue streams.