Postal Savings Bank of China
| Company type | Public |
|---|---|
| Industry | Banking, Financial services |
| Founded | 2007 |
| Headquarters | Beijing , China |
Area served | China |
| Products | Retail banking, Microcredit lending, Financial services |
| Parent | State Post Bureau (initial capital injection) |
| Website | www |
Postal Savings Bank of China Co., Ltd. (PSBC) is a retail banking institution and financial services provider based in Beijing, China. The bank primarily serves small and medium-sized enterprises, rural communities, and low-income individuals by offering fundamental financial products. As of 31 December 2017, PSBC operated 39,798 branches across the country. In 2023, it was ranked 27th in the Forbes Global 2000 list.
Established in 2007 with an initial capital injection of RMB 20 billion from the State Post Bureau, PSBC currently manages deposits totaling RMB 1.5 trillion, making it the second-largest branch network in China after the Agricultural Bank of China.
During the global financial downturn in 2008, the Chinese government utilized PSBC’s widespread presence to execute its nationwide economic stimulus focused on rural advancement and poverty alleviation. The bank plays a key role in supporting rural credit cooperatives by facilitating microcredit lending services.
On 8 December 2015, PSBC secured RMB 45.1 billion through a strategic funding round that included investors such as Temasek Holdings, UBS, Canada Pension Plan Investment Board, International Finance Corporation, Morgan Stanley, DBS Bank, Tencent, Ant Financial Services Group, China Life, and China Telecom. Collectively, these stakeholders acquired a 16.92% ownership stake. Prior to its initial public offering on the Hong Kong Stock Exchange on 30 September 2016, PSBC was recognized as the largest unlisted bank in China.
Commerce
The Postal Savings Bank of China concentrates on serving "agriculture, rural areas, and farmers," alongside small and medium enterprises as well as urban and rural residents. Utilizing its vast postal network infrastructure, the bank maintains consistent operations with strict adherence to regulatory compliance and sound risk management practices. Its goal is to provide high-quality financial services that increase shareholder value while contributing to socio-economic progress.
By the close of 2016, PSBC reported total assets amounting to RMB 8.27 trillion, deposits reaching RMB 7.29 trillion, and loan portfolios totaling RMB 3.01 trillion. The net profit for that year was RMB 39.776 billion. On 10 January 2017, the bank introduced a blockchain-based asset custody platform built on IBM’s Hyperledger Fabric technology—representing the first deployment of blockchain within a core business system by a Chinese banking institution.
List of governors
| Name (English) | Name (Chinese) | Tenure begins | Tenure ends | Note |
|---|---|---|---|---|
| Tao Liming | 陶礼明 | March 2007 | 2012 | |
| Lü Jiajin | 吕家进 | January 2013 | January 2019 | |
| Guo Xinshuang | 郭新双 | January 2020 | January 2021 | |
| Liu Jianjun | 刘建军 | June 2021 |
List of chairmen of the board
| Name (English) | Name (Chinese) | Tenure begins | Tenure ends | Note |
|---|---|---|---|---|
| Liu Andong | 刘安东 | March 2007 | September 2011 | |
| Li Guohua | 李国华 | January 2012 | July 2018 | |
| Zhang Jinliang | 张金良 | May 2019 | April 2022 | |
| Liu Jianjun | 刘建军 | April 2022 | [1] |
See also
External links
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- Companies listed on the Hong Kong Stock Exchange
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- Companies in the Hang Seng China Enterprises Index
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