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Postal Savings Bank of China
  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] CommercePostal 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 10 January 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] LeadershipList of governors
List of chairmen of the board
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