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PSBC labeled as China's large state-owned commercial bank

February 15, 2019


Abstract : Postal Savings Bank of China (PSBC, 1658.HK) was announced to be China's sixth large state-owned commercial bank instead of postal savings bank, according to China Banking and Insurance Regulatory Commission (CBIRC) recently.

BEIJING, Feb. 15 (Xinhua) -- Postal Savings Bank of China (PSBC, 1658.HK) is announced to be China's sixth large state-owned commercial bank instead of postal savings bank in a document of China Banking and Insurance Regulatory Commission (CBIRC) recently.

The other five large state-owned commercial banks in China are the Bank of China (BOC), the China Construction Bank (CCB), the Agricultural Bank of China (ABC), the Industrial and Commercial Bank of China (ICBC) and the Bank of Communications (BCM).

PBSC has the largest network in China, with nearly 40, 000 outlets. According to its financial report for the third quarter in 2018, by the end of September 2018, PBSC ranked sixth among China's commercial banks with a total asset of 9.35 trillion yuan.

(Edited by Wu Shuang, wushuang2018@xinhua.org, and Tong Wei, tongwei@xinhua.org)


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