Postal Savings Bank of China
Chinese postal savings began in 1919. Postal Savings Bank of China Limited was founded in March 2007 after postal savings management reform. The Bank became a joint stock limited liability company in January 2012, went public in September 2016, and was listed on the Hong Kong Stock Exchange and Shanghai Stock Exchange in December 2019.
The Bank serves Sannong clients, urban and rural citizens, and SMEs with 40,000 stores and over 650 million personal customers. It meets the financial needs of China's most promising clients amid economic transition using its distinctive model and resource endowment of directly operated and agency outlets. Postal Savings Bank of China is also accelerating its transition into a data-driven, channel-coordinated, wholesale-retail, efficient retail bank. It is a leading Chinese retail bank with high asset quality and development prospects.
Postal Savings Bank of China prioritizes the actual economy, national strategies, and social responsibility. It offers customers excellent, convenient, and efficient integrated financial services by connecting online and offline services for collaborative development. It follows the risk-based strategy and has a sensible and sound risk appetite, strengthens its risk management leadership on all fronts, and consistently improves the comprehensive risk management system covering "all aspects, whole process, and entire staff." It pursues high-quality development, innovates and reforms boldly, and deepens capability.
Since its founding 16 years ago, the Bank has grown in market prominence. This year, Fitch Ratings and Moody's Investors Service rated it A+ and A1, matching China's sovereignty credit ratings. S&P Global Ratings, S&P Global (China) Ratings, and CCXI have rated it A, AAAspc, and AAA with stable outlooks. Tier 1 Capital ranked 13th in The Banker's "Top 1000 World Banks" in 2022.
Faced with new strategic opportunities for China's development, Postal Savings Bank of China will thoroughly implement the new development philosophy, focus on high-quality development, stay committed to the general principle of pursuing progress while ensuring stability, comprehensively deepen reform and innovation, and accelerate the transformation and growth towards "uniqueness, comprehensiveness, lightness, digitalization, and intensiveness." As a major state-owned bank, the Bank will strive to be a first-tier sizeable retail bank that is trustworthy, distinctive, prudent, safe, innovative, and with remarkable value.
Founded: 2007
Headquarters: No. 3 Financial Street, Xicheng District, Beijing, PRC
Website: https://www.psbc.com/
