Postal Savings Bank of China Co., Ltd., formerly known as the Postal Savings Bureau established in 1919, is a commercial bank serving rural areas, rural areas, small and medium-sized enterprises, urban and rural residents, and serving a wide range of domestic coverage, many business outlets, and a large number of customers
In accordance with the overall arrangement of the financial system reform of the State Council, the Postal Savings Bank of China Co., Ltd. was formally established in March 2007 on the basis of reforming the original postal savings management system. On January 21, 2012, with the consent of the State Council and the approval of the China Banking Regulatory Commission, Postal Savings Bank of China Co., Ltd. was changed to Postal Savings Bank of China Co., Ltd. as a whole in accordance with the law.
The young Postal Savings Bank has a history of nearly 100 years. In 1919, the Postal Savings Bureau of China, the predecessor of the Postal Savings Bank of China, was established to start postal savings business. In 1942, the Savings and Remittance Bureau became an important part of the six financial pillars of the time, "Four Banks and Two Bureaus". In the early days of the founding of the People's Republic of China, the postal savings business was suspended in 1953, and the postal service continued to handle the exchange business. In 1986, postal savings were officially reopened.
With the care and support of governments at all levels, financial regulatory authorities and all sectors of society, Postal Savings Bank of China adheres to the concept of inclusive finance, consciously assumes the social responsibility of "universal urban and rural areas, benefiting the people", and has embarked on a characteristic development path of serving the "three rural", small and medium-sized enterprises and communities.
At present, the Postal Savings Bank of China has become a commercial bank with the largest number of outlets, the widest coverage and the largest number of customers in China. As of the end of June 2015, PSBC had more than 40,000 business outlets, and had built an electronic financial service network including online banking, mobile banking, telephone banking, TV banking, Weibo banking, WeChat banking and easyMarkets, with service tentacles covering the vast urban and rural areas, serving nearly 490 million customers, issuing more than 2.3 trillion yuan of loans to small and micro enterprises, helping about 12 million small and micro enterprises solve financing problems, and total assets of more than 6.5 trillion yuan. Key indicators such as non-performing loan ratio, provision coverage ratio and economic profit margin have reached the excellent or good level of the interbank industry; The credit rating of PSBC and the credit rating of bonds are both "AAA" by rating agencies. In the "2015 Top 1000 Global Banks" by The Banker magazine, PSBC ranked 23rd in terms of total assets and 54th in terms of Tier 1 capital.
Postal Savings Bank of China will continue to rely on its network advantages, in accordance with the corporate governance structure and the requirements of commercial bank management, continue to enrich business varieties, constantly improve service channels, and continuously improve service capabilities, so as to provide customers with more comprehensive and convenient financial services, and build itself into a large-scale retail commercial bank with sufficient capital, strict internal control, safe operation, excellent brand and strong competitiveness.
