Postal Savings Bank Of China Ipo Ticker

Postal savings bank of china ipo ticker

Chinese commercial retail bank

Native name

中国邮政储蓄银行

Type

listed
Traded as
Industrybanking, financial services 
FoundedMarch 6, 2007 (12 years ago) (2007-03-06)
HeadquartersNo.

Postal Savings Bank of China with the Most of Outlets Embraces Mobile Internet by Using OpenStack

3 Financial Street, Xicheng District, Beijing, PRC

Key people

President Lu Jiajin
Chairman Li Quohua
OwnersChina Post Group 68.92%
Websitewww.psbc.com

Postal Savings Bank of China Co., Ltd. also known as PSBC is a commercial retail bank founded in 2007 and headquartered in Beijing.

It provides basic financial services, especially to small and medium enterprises, rural[1] and low income customers. As of December 31, 2017, PSBC has 39,798[2] branches covering all regions of China.

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PSBC was set up with an initial capital of RMB20 billion in 2007 from the State Post Bureau. Today it has RMB1.5 billion in deposits and the second largest number of branches, after the Agricultural Bank of China.

Postal savings bank of china ipo ticker

During the Global 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 December 8, 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.

Postal savings bank of china ipo ticker

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 September 30, 2016.

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Prior to its listing, it was the largest unlisted Chinese bank.[3]

Xuewen Zhang and Hong Lao serve as Vice Presidents of the bank and co-executive directors.

See also[edit]

References[edit]

External links[edit]

A branch of Postal Savings Bank of China
A branch of Postal Savings Bank of China in Shanghai

Postal savings bank of china ipo ticker