Postal Savings Bank of China
A nationwide Chinese retail bank built around the postal network, with a strong focus on rural finance, households, and small and medium-sized enterprises.
Last updated October 24, 2026
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Overview
Postal Savings Bank of China Co., Ltd., commonly known as PSBC, is a Chinese retail banking and financial-services institution headquartered in Beijing. Its operating model is closely associated with the nationwide postal network, which gives the bank an unusually broad physical presence across urban and rural China. The institution was established in 2007 with initial capital of RMB 20 billion from the State Post Bureau and developed from the postal savings system into a full commercial bank serving households, businesses, rural communities, and public-sector development priorities. PSBC's principal customer groups include farmers and rural residents, low-income customers, agricultural businesses, and small and medium-sized enterprises. Its stated service emphasis is often summarized through the Chinese policy formulation of serving agriculture, rural areas, and farmers. The bank also provides conventional retail and commercial banking services to urban residents and companies. Its broad distribution network has made it an important channel for basic financial access, deposits, payments, lending, and microfinance in areas where conventional banking coverage has historically been less extensive. The bank's role expanded during the 2008 global financial crisis, when Chinese authorities used a range of measures to transmit economic stimulus and development support to rural areas. PSBC's microfinance capabilities and postal reach were used in support of rural development and poverty-reduction objectives. The bank has also assisted Chinese credit cooperatives in microcredit activities, reinforcing its position as a financial-inclusion institution as well as a conventional deposit-taking bank. A major turning point came in December 2015, when PSBC raised RMB 45.1 billion from a group of strategic investors through a pre-listing share placement. The investors named in reference material included Temasek, 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. Together, these investors held 16.92 percent of the company at the time of the investment. The transaction strengthened the bank's capital base and preceded its public-market debut. PSBC completed an initial public offering on the Hong Kong Stock Exchange on 30 September 2016. The listing was significant because the bank had been the largest unlisted Chinese bank before the offering. Its subsequent scale has been reflected in its large deposit base, extensive branch network, and position among China's major banking institutions. Reference material reported that, at the end of 2016, PSBC had total assets of RMB 8.27 trillion, deposits of RMB 7.29 trillion, loans of RMB 3.01 trillion, and annual net profit of RMB 39.776 billion. These figures are historical and should not be treated as current financial data. Technology has been another part of the bank's modernization agenda. In January 2017, PSBC announced a blockchain-based asset-custody system built with Hyperledger Fabric software developed by IBM. The system was described as being integrated into a core business application and as an early successful example of blockchain being applied to a Chinese bank's core business operations. PSBC's brand positioning combines nationwide accessibility, postal-network reach, financial inclusion, and commercial banking discipline. It emphasizes stable operations, regulatory compliance, risk control, service to rural and small-business customers, and contribution to socioeconomic development. The bank's scale and distribution footprint distinguish it from a narrowly regional institution: although its strongest historical identity is connected to rural and mass-market banking, it operates across China and serves a broad retail and corporate customer base.
History
Postal Savings Bank of China emerged from China's postal savings tradition and was formally established in 2007 with initial capital of RMB 20 billion provided by the State Post Bureau. Its creation gave the postal savings business a dedicated banking institution capable of developing beyond basic postal deposits and into a broader commercial banking model. From the beginning, PSBC was designed around reach and inclusion. The postal network allowed it to serve customers in locations that were less densely covered by conventional commercial-bank branches. Its main development priorities included agriculture, rural communities, farmers, households with limited access to formal finance, and small and medium-sized enterprises. The bank's offering combined basic deposits and payment services with lending, including microfinance and other forms of rural credit. The 2008 global financial crisis highlighted the institution's policy and developmental role. Chinese authorities sought to direct economic-support measures toward rural areas, and PSBC's broad branch and service network provided an established channel for microfinance and other forms of financial assistance. The bank also supported credit cooperatives in their microcredit activities. This period reinforced the association between PSBC and rural development, poverty reduction, and mass-market financial access. As the bank expanded, its role became increasingly similar to that of a nationwide commercial retail bank while retaining its postal-network identity. By the end of 2016, reference material reported total assets of RMB 8.27 trillion, deposits of RMB 7.29 trillion, and loans of RMB 3.01 trillion. The same material reported annual net profit of RMB 39.776 billion. These historical figures illustrate the scale reached before and around the time of its public listing, but they are not current financial measurements. In December 2015, PSBC carried out a strategic-investor transaction that raised RMB 45.1 billion. The investor group included Temasek, 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. The investors collectively held 16.92 percent at the time of purchase. The transaction provided capital and preceded the bank's transition to public ownership through a Hong Kong listing. PSBC completed its initial public offering on 30 September 2016 on the Stock Exchange of Hong Kong. The IPO was a defining institutional milestone because PSBC had been the largest unlisted Chinese bank before its listing. Public-market status increased the visibility of the bank and formalized its position among China's large banking institutions. The bank also pursued technology modernization. On 10 January 2017, it announced a blockchain-based asset-custody system built with IBM's Hyperledger Fabric software. The system was described as being used in a core business system, making it an important example of PSBC's efforts to apply emerging technology to institutional banking operations. In its mature form, PSBC combines nationwide retail banking with targeted development finance. Its business serves urban and rural residents, farmers, agricultural enterprises, small and medium-sized companies, and larger commercial customers. Its differentiation rests less on a narrow product category than on distribution, customer reach, deposit gathering, rural credit expertise, and the ability to connect postal infrastructure with formal banking. The bank continues to be identified with accessible nationwide financial services, prudent operations, compliance, risk control, and support for socioeconomic development.
- 2017
Blockchain asset-custody system announced
[1]PSBC announced a blockchain-based asset-custody system using IBM Hyperledger Fabric software in a core banking-related application.
- 2016
Hong Kong initial public offering
[1]PSBC completed its initial public offering on the Stock Exchange of Hong Kong on 30 September 2016.
- 2015
Strategic-investor capital injection
[1]A group of strategic investors invested RMB 45.1 billion through a pre-listing share transaction and collectively held 16.92 percent at the time.
- 2008
Rural-development role expands during the financial crisis
[1]The bank's microfinance services and nationwide reach were used to support rural economic measures and poverty-reduction objectives, and it assisted credit cooperatives with microcredit schemes.
- 2007
Bank established
[1]Postal Savings Bank of China was established with initial capital of RMB 20 billion from the State Post Bureau.
Products and positioning
A nationwide, postal-network-based Chinese retail bank emphasizing financial inclusion, rural and agricultural finance, small and medium-sized enterprises, and accessible banking for urban and rural residents.
Retail banking · 2007
Retail deposits and savings
Deposit-taking and savings services form a core part of PSBC's mass-market banking model. The bank uses its extensive postal-linked distribution network to provide basic financial services to urban and rural residents, including customers who may have limited access to large conventional bank branches.
Inclusive finance · 2007
Agricultural and rural microfinance
PSBC provides lending and microfinance services directed toward farmers, rural households, agricultural activity, and underserved communities. This line reflects the bank's historical role in supporting rural development, poverty reduction, and broader access to formal credit.
Commercial banking · 2007
Small and medium-sized enterprise finance
The bank serves small and medium-sized enterprises through business lending and related commercial banking services. SME finance complements PSBC's rural focus and extends its customer base to businesses operating in both urban and rural markets.
Transaction banking · 2007
Payments, remittances, and settlement
PSBC's nationwide network supports everyday payment, remittance, and settlement needs for households and businesses. These services are important to the institution's role as an accessible banking channel across China's geographically diverse markets.
Institutional banking technology · 2017
Blockchain-based asset custody
Announced in 2017, the blockchain-based asset-custody system used Hyperledger Fabric software developed by IBM. It was presented as an application of distributed-ledger technology within a core business context rather than as a consumer-facing cryptocurrency product.
Controversies
2024
Li Guohua sentenced to 16 years at first instance for bribery and abuse of power
On May 7, 2024, the Qingdao Intermediate People's Court sentenced Li Guohua, former general manager of China Post and chairman of Postal Savings Bank of China, to 16 years in prison in the first instance. It found that he accepted bribes of more than 66.45 million yuan, of which more than 21.59 million yuan was not actually obtained; abuse of power caused losses of more than 49.96 million yuan in state-owned assets, involving his posts in the postal system.
2023
Fined 31.86 million yuan by PBOC for multiple financial management violations
In July 2023, the People's Bank of China announced administrative penalties, including a 31.86 million yuan fine against Postal Savings Bank of China for 10 categories of illegal acts. Caixin reported it together with fines against other financial institutions in the same period. This entry is limited to the matters and institution listed in the penalty and does not imply that all branches committed the same violations.
2020
IFC watchdog investigates Postal Savings Bank of China loan
The Compliance Adviser Ombudsman launched an investigation into a complaint concerning a loan by Postal Savings Bank of China to a Chinese mining group involved in a planned Indonesian mine. The complaint alleged that the loan was made without regard for environmental concerns and in apparent contravention of IFC environmental and social standards. The investigation followed the filing of the complaint; no findings or outcomes are stated in the source.
2016
Criminal case against first president Tao Liming terminated after his death
According to The Paper, the case involving Tao Liming, first president of Postal Savings Bank of China, included over-issuance of certificate treasury bonds and irregular financing, and he had received a first-instance judgment. He died in June 2016 during the second-instance trial, and proceedings in his own case were terminated due to death; the final judgments of other defendants in the same case cannot be regarded as his own final conviction.
Brand decisions
2017
Deploy blockchain-based asset custodyProduct launchBackground
PSBC pursued the use of emerging financial technology in institutional banking operations and asset servicing.
Action taken
The bank announced an asset-custody system based on IBM's Hyperledger Fabric software and described it as being used in a core business application.
Aftermath
The announcement positioned PSBC as an early Chinese bank adopter of blockchain technology in a core business setting.
2016
Complete Hong Kong initial public offeringM&ABackground
After the strategic-investor transaction, PSBC proceeded with the public listing of the institution, which had been the largest unlisted Chinese bank.
Action taken
The bank listed its shares on the Stock Exchange of Hong Kong on 30 September 2016.
Aftermath
The IPO made PSBC a publicly traded bank and increased its visibility among China's major banking institutions.
2015
Bring in strategic investors before public listingOtherBackground
PSBC was preparing for a transition from a large unlisted Chinese bank to a publicly traded institution and sought additional capital and strategic participation.
Action taken
The bank accepted RMB 45.1 billion from a consortium including Temasek, 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.
Aftermath
The investors collectively held 16.92 percent at the time of purchase, and the transaction preceded PSBC's 2016 Hong Kong IPO.
Capital raised. RMB 45.1 billion raised (2015)
Recent events
Postal Savings Bank of China and Meituan sign strategic cooperation agreement[6]
Reported:
Postal Savings Bank of China and Meituan signed a strategic cooperation agreement covering online financial services, cards, personal loans, and financial services for small and micro enterprises. They also officially launched a co-branded debit card.
IFC watchdog investigates Postal Savings Bank of China loan[5]
Reported:
The Compliance Adviser Ombudsman launched an investigation into a complaint alleging that Postal Savings Bank of China loaned money to a Chinese mining group involved in a planned Indonesian mine without regard for environmental concerns and in apparent contravention of IFC environmental and social standards.
Postal Savings Bank of China wins State-Owned Commercial Bank of the Year award[7]
Reported:
Postal Savings Bank of China won the “年度国有商业银行” (State-Owned Commercial Bank of the Year) award at the 2019 China Excellent Finance Awards.
Guanghui Auto and Postal Savings Bank sign strategic cooperation agreement[8]
Reported:
China Postal Savings Bank and Guanghui Auto Service Group signed a strategic cooperation agreement at an auto industry finance forum in Dalian.
Sources8 sources
- 1Postal Savings Bank of China - Wikipediaen.wikipedia.org
- 2Li Guohua sentenced to 16 years at first instance for bribery and abuse of powerspp.gov.cn
- 3Criminal case against first president Tao Liming terminated after his deaththepaper.cn
- 4Fined 31.86 million yuan by PBOC for multiple financial management violationsfinance.caixin.com
- 5IFC watchdog investigates Postal Savings Bank of China loanscmp.com
- 6邮储银行与美团签署战略合作协议tech.sina.com.cn
- 7中国邮政储蓄银行荣获“年度国有商业银行”大奖finance.sina.com.cn
- 8广汇汽车与邮储银行签署战略合作协议finance.sina.com.cn
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