Interim Management and Greenfield Establishment of a Postal Bank – Hay Post Armenia
We were retained by the Armenian Government in order to replace the dismissed management at Hay Post, with a view to restructuring the entire enterprise over a 5-year period. Alongside the postal restructuring, the Central Bank approved the establishment of a newly licensed postal bank to distribute financial services on a nationwide basis to lower-income and rural areas as well as SMEs and other corporate clients.
Our Responsibilities included:
- Design and successfully implement a restructuring plan for Hay Post, with a view to privatization within 5 years;
- Develop a capital plan for the new postal bank, allowing it to provide basic financial services via the postal network;
- Establish all institutional arrangements to allow for the launch of the new bank;
- Provide interim management support and technical assistance to ensure aSave successful and timely establishment of the new postal bank.