Czech Stamp on 130 Years of Postal Banking Services

\"czechCzech Post has issued a stamp commemorating the 130th anniversary of Postal Banking Services foundation.The Imperial and Royal Postal Savings Office was established on 12 January 1883 as a collaborative effort of the Trade Minister Felix von Pino-Friedenthal and the Chief of Section Jiri Theodor Coch. The idea of using post offices as branches of the newly established Postal Savings Office proved to be wise.

With the fall of socialism, the idea of postal savings banks got new life. On 20 November 1990, the deed of foundation of Postal Savings Bank was signed at a ceremony held in the premises of Postal Museum. On 1 January 1994, the bank merged with Investment Bank into Investment and Postal Bank. Following the failure of this bank in 2000, Postal Savings Bank became a part of CSOB.

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