An Post and Fortis say their new financial services joint venture will being offering savings and investment products to customers by 'mid-year'.
The companies say the venture, which is subject to the granting of a banking licence by the regulator, will create 100 new jobs by the end of 2007.
They say a wider range of products, including internet banking and ATM facilities, will follow in the autumn.
Chief executive Margaret Sweeney said the target was to be represented in more than 200 post offices initially. An Post and Fortis are each putting €56m into the new bank.
