Postal Savings Bank of China

From The Right Wiki
Jump to navigationJump to search

Postal Savings Bank of China
Native name
中国邮政储蓄银行
Company typelisted
FoundedMarch 6, 2007 (17 years ago) (2007-03-06)
HeadquartersNo. 3 Financial Street, Xicheng District, Beijing, PRC
Key people
President Lu Jiajin
Chairman Li Quohua
OwnersChina Post Group 68.92%
Websitepsbc.com
Postal Savings Bank of China Co., Ltd.
Simplified Chinese中国邮政储蓄银行股份有限公司
Traditional Chinese中國郵政儲蓄銀行股份有限公司
Transcriptions
Postal Savings Bank of China
Simplified Chinese中国邮政储蓄银行
Traditional Chinese中國郵政儲蓄銀行
Transcriptions
Second alternative Chinese name
Simplified Chinese邮储银行
Traditional Chinese郵儲銀行
Transcriptions
File:Postal savings bank of China.jpg
A branch of Postal Savings Bank of China
File:A branch of Postal Savings Bank of China in Shanghai.JPG
A branch of Postal Savings Bank of China in Shanghai

Postal Savings Bank of China Co., Ltd. also known as PSBC is a Chinese retail bank and financial services corporation headquartered in Beijing, China. PSBC provides basic financial services, especially to small and medium enterprises, rural[1] and low income customers. As of 31 December 2017, PSBC has 39,798[2] branches covering all regions of China. PSBC was ranked #27 in Forbes Global 2000 in 2023.[3] PSBC was set up with an initial capital of RMB20 billion in 2007 from the State Post Bureau. Today it has RMB1.5 trillion in deposits and the second largest number of branches, after the Agricultural Bank of China. During the 2007–2008 financial crisis, the government took several measures to spread its national economic stimulus plan specifically to rural areas. This included using microfinance services provided by the Postal Savings Bank as a tool for national development and poverty reduction. The bank with its extremely broad reach also assists China's credit cooperatives in their microcredit schemes. On 8 December 2015, China Postal Savings Bank, through issuing pro-float stock, received an injection of investment from the Temasek Holdings of Singapore, UBS, the Canada Pension Plan Investment Board, the International Finance Corporation, Morgan Stanley, DBS Bank, Tencent, Ant Financial Services Group, China Life and China Telecom, with a total investment of 45.1 billion yuan. These "strategic investors" together held a 16.92% stake in the company at the time of purchase. The stock was listed through an initial public offering on the Stock Exchange of Hong Kong on 30 September 2016. Prior to its listing, it was the largest unlisted Chinese bank.[4]

Commerce

Postal Savings Bank of China focuses on serving "agriculture, rural areas, and farmers", small and medium-sized enterprises, and urban and rural residents.[5] The bank leverages its postal network, ensuring stable operations, compliance, and good risk control to provide quality financial services, maximize shareholder value, and contribute to socio-economic development.[6] By the end of 2016, Postal Savings Bank of China had total assets of RMB 8.27 trillion, deposit balance of RMB 7.29 trillion, and total loans of RMB 3.01 trillion.[7] The bank's net profit for the whole year was RMB 39.776 billion.[8][9][10] On January 10, 2017, Postal Savings Bank of China held a press conference in Beijing to announce the launch of a blockchain-based asset custody system.[11] This system, implemented with Hyperledger Fabric software developed by IBM, is used in the bank's core business system and marks the first successful case of a Chinese bank applying blockchain technology to its core business system.[12]

Leadership

List of governors

Name (English) Name (Chinese) Tenure begins Tenure ends Note
Tao Liming [zh] 陶礼明 March 2007 2012
Lü Jiajin [zh] 吕家进 January 2013 January 2019
Guo Xinshuang [zh] 郭新双 January 2020 January 2021
Liu Jianjun [zh] 刘建军 June 2021

List of chairmen of the board

Name (English) Name (Chinese) Tenure begins Tenure ends Note
Liu Andong [zh] 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 [zh] 刘建军 April 2022 [13]

See also

References

  1. ↑ Ying, Chen. "Introduction of the Postal Savings Bank of China" (PDF). Retrieved 18 March 2019.
  2. ↑ "Company Overview of Postal Savings Bank of China Co., Ltd". www.bloomberg.com. Retrieved 18 March 2019.
  3. ↑ "The Global 2000 2023". Forbes. Archived from the original on 29 January 2024. Retrieved 7 February 2024.
  4. ↑ "China Postal Bank raises $7bn from local and overseas investors". Financial Times. 9 December 2015.
  5. ↑ "中国邮政储蓄银行股份有限公司" (PDF). Retrieved 9 October 2024.
  6. ↑ 网易 (31 March 2017). "邮储银行公布上市后首份年报 2016年净利润同比增长14.11%". www.163.com. Retrieved 9 October 2024.
  7. ↑ "Postal Savings Bank of China 2016 net profit up 14% on year". Nikkei Asia. Retrieved 9 October 2024.
  8. ↑ "2016年年度业绩发布" (PDF). 29 March 2017. Retrieved 9 October 2024.
  9. ↑ BSIC (2 October 2016). "Active gift card balance". Retrieved 9 October 2024.
  10. ↑ "邮储银行上市后首份年报 2016净利润同比增14.11%". news.sina.cn. 29 March 2017. Retrieved 9 October 2024.
  11. ↑ Taylor, Ian (12 January 2017). "Postal Savings Bank of China launches blockchain-based asset custody system". Post & Parcel. Retrieved 9 October 2024.
  12. ↑ "IBM China - 新闻稿". IBM China. Retrieved 9 October 2024.
  13. ↑ 邮储银行：董事长空缺一年半，刘建军代为履职严重超期. qq.com (in 中文). 24 November 2023. Retrieved 18 October 2024.

External links

Retrieved from "https://rightwiki.org/index.php?title=Postal_Savings_Bank_of_China&oldid=13693480"