This article includes a list of general references, but it lacks sufficient corresponding inline citations .(October 2016) |
Native name | 中国邮政储蓄银行 |
---|---|
Company type | listed |
Founded | March 6, 2007 |
Headquarters | No. 3 Financial Street, Xicheng District, Beijing, PRC |
Key people | President Lu Jiajin Chairman Li Quohua |
Owners | China Post Group 68.92% |
Website | psbc.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 | ||
| |||
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 | ||
| |||
Second alternative Chinese name | |||
Simplified Chinese | 邮储银行 | ||
Traditional Chinese | 郵儲銀行 | ||
|
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 31 December 2017,PSBC has 39,798 [2] branches covering all regions of China. IPSBC 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 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 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]
In 2022,Postal Savings Bank Of China served about 600 million personal customers having about 40,000 about 40,000 outlets and services. [5]
Xuewen Zhang and Hong Lao serve as Vice presidents of the bank and co-executive directors.
The Bank of China is a Chinese majority communist-owned commercial bank headquartered in Beijing and one of the very largest banks in the world.
HSBC Holdings plc is a British universal bank and financial services group headquartered in London, England, with historical and business links to East Asia and a multinational footprint. It is the largest Europe-based bank by total assets, ahead of BNP Paribas, with US$2.919 trillion as of December 2023. In 2021, HSBC had $10.8 trillion in assets under custody (AUC) and $4.9 trillion in assets under administration (AUA).
Agricultural Bank of China (ABC), also known as AgBank, is one of the "Big Four" banks in China. It was founded on 10 July 1951, and has its headquarters in Dongcheng District, Beijing. It has branches throughout mainland China, Hong Kong, London, Tokyo, New York, Frankfurt, Sydney, Seoul, and Singapore.
China Construction Bank Corporation (CCB) is one of the "big four" banks in China. In 2015, CCB was the 2nd largest bank in the world by market capitalization and 6th largest company in the world. The bank has approximately 13,629 domestic branches. In addition, it maintains overseas branches in London, Barcelona, Frankfurt, Luxembourg, Hong Kong, Johannesburg, New York City, Seoul, Singapore, Tokyo, Melbourne, Kuala Lumpur, Santiago de Chile, Brisbane, Sydney and Auckland. Its total assets reached CN¥ 8.7 trillion in 2009, and it is considered a systemically important bank by the Financial Stability Board. Its headquarters is in Xicheng District, Beijing.
Mizuho Financial Group, Inc., abbreviated as MHFG, or simply called Mizuho, is a banking holding company headquartered in the Ōtemachi district of Chiyoda, Tokyo, Japan. The name "mizuho (瑞穂)" literally means "abundant rice" in Japanese and "harvest" in the figurative sense. Upon its founding, it was the largest bank in the world by assets. It is considered a systemically important bank by the Financial Stability Board.
Postal savings systems provide depositors who do not have access to banks a safe and convenient method to save money. Many nations have operated banking systems involving post offices to promote saving money among the poor.
The Industrial and Commercial Bank of China is the largest bank in China and in the world, by total assets. ICBC was created on 1 January 1984 from what were then the commercial banking operations of the People's Bank of China. ICBC is majority-owned by the Chinese government and has remained so after its landmark initial public offering in 2006. As of end-2021, ICBC shareholders included Central Huijin Investment, the Chinese Ministry of Finance, the National Council for Social Security Fund, adding up to 69.3 percent under the ultimate control of the Ministry of Finance.
Ping An Insurance known also as Ping An of China, full name Ping An Insurance (Group) Company of China, Ltd. is a Chinese financial services holding company whose subsidiaries provide insurance, banking, asset management, financial services. The company was founded in 1988 and is headquartered in Shenzhen. "Ping An" literally means "safe and well". It is ranked as China’s 5th largest company.
The Industrial Bank Co., Ltd., officially Fujian Industrial Bank Joint-Stock Corporation, Limited, is a commercial bank based in Fuzhou, Fujian province of the People's Republic of China. In 2023, the company was ranked 60th in the Forbes Global 2000.
Oversea-Chinese Banking Corporation Limited, abbreviated as OCBC, is a Singaporean multinational banking and financial services corporation headquartered at the OCBC Centre.
Manulife Financial Corporation is a Canadian multinational insurance company and financial services provider headquartered in Toronto, Ontario. The company operates in Canada and Asia as "Manulife" and in the United States primarily through its John Hancock Financial division. As of December 2021, the company employed approximately 38,000 people and had 119,000 agents under contract, and has CA$1.4 trillion in assets under management and administration. Manulife at one point serviced over 26 million customers worldwide.
Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna is a Polish multinational banking and financial services company headquartered in Warsaw, Poland. It is among the largest financial institutions in Poland, and is also one of the largest financial groups in Central and Eastern Europe, with 1,145 branches located in Poland and abroad and a market capitalization of PLN 52 billion as of 2018.
BDO Unibank, Inc., commonly known as Banco de Oro (BDO), is a Philippine banking company based in Mandaluyong, the Philippines. BDO Unibank is a member of the SM Group and so can be found at SM Malls throughout the country.
CIMB Group Holdings Berhad is a Malaysian universal bank headquartered in Kuala Lumpur and operating in high growth economies in ASEAN. CIMB Group is an indigenous ASEAN investment bank. CIMB has a wide retail branch network with 1,080 branches across the region.
China Merchants Bank (CMB) is a Chinese bank headquartered in Futian District, Shenzhen, Guangdong, China. Founded in 1987, it is the first share-holding commercial bank wholly owned by corporate legal entities in China. CMB listed on the Shanghai Stock Exchange in 2002 and the Hong Kong Stock Exchange in 2006.
Axis Bank Limited, formerly known as UTI Bank (1993–2007), is an Indian multinational banking and financial services company headquartered in Mumbai, Maharashtra. It is India's third largest private sector bank by assets and fourth largest by market capitalisation. It sells financial services to large and mid-size companies, SMEs and retail businesses.
Japan Post Bank Co., Ltd. is a Japanese bank headquartered in Tokyo. It is a corporation held by Japan Post Holdings, in which the government of Japan has a majority stake.
China International Capital Corporation Limited is a Chinese partially state-owned multinational investment management and financial services company. Founded in China in 1995, CICC provides investment banking, securities and investment management services to corporations, institutions and individuals worldwide.
Equitable Bank is a Canadian bank that specializes in residential and commercial real estate lending, as well as personal banking through its digital arm, EQ Bank. Founded in 1970 as The Equitable Trust Company, it became a Schedule I Bank in 2013 and has since grown to become Canada's seventh largest bank by assets.
Bank of Qingdao Company Limited is a provider of retail and corporate banking services in Shandong province, headquarters are in Qingdao, China. Bank of Qingdao is regulated by the People's Bank of China, the nation's central bank.