Postal Savings Bank Of China (1658.xhkg)

Postal Savings Bank Of China (1658.xhkg)

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Postal Savings Bank Of China (1658.xhkg) Profile

Postal Savings Bank Of China (1658.xhkg) is a commercial retail bank headquartered in Beijing, China. PSBC provides 600M customers financial services, especially to small and medium enterprises, rural, and low income. The company has 39,798 branches covering all China regions and more than 40,000 outlets. The PSBC stock (1658.xhkg) is listed on the Stock Exchange of Hong Kong (HKEX) and had a market capitalisation of $111.90 (USD) as of December 2021. The company employs 10,000 people. PSBC has $240M in deposits and is the second largest number of branches, after the Agricultural Bank of China. PSBC received significant help from Temasek Holdings of Singapore, UBS, the Canada Pension Plan Investment Board, the International Finance Corporation, Morgan Stanley, DBS bank and more, with $7.09B (USD) holding a 16.92% stake in the company at the time of purchase. PSBC aims to push forward the transformation and upgrade of businesses on all fronts, actively deploy financial technology, lead innovation through technological empowerment, upgrade the fundamental support, and enhance core competitiveness.

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