Postal Savings Bank Ltd. Co. of China (hereinafter referred to as Postal Savings Bank) officially hung up its shingle on March 20, 2007, which is a commercial bank established on the basis of reform of postal savings management system.
Since its re-opening of business in 1986, Postal Savings Bank has built a financial service network for individuals covering the whole nation with the most widespread branch post offices and the largest turnover.
At present, Postal Savings Bank has 37,000 business offices for savings service, 45,000 business offices for exchange service and 20,000 business offices for international remittance service.
Postal Savings Bank of China will continuously diversify its service products, expand distribution channels and improve service functions relying on postal network's advantages and according to the modern framework for corporate governance as well as the requirements of management for com--mercial banks to provide more complete and convenient basic finance services and create a modern bank with adequate capital, rigorous interior control, safe operation, complete functions and high competitiveness.
Under the guideline of "Deepening reform and accelerating transformation", Postal Savings Bank highlights the three subjects as service expansion, risk control and team building, insists on proper orientation for market and innovation, seriously carries out social responsibilities and actively enhances sustaining promotion of profit-making ability and management level.
The Postal Savings Bank provided loans of 200 million yuan (US$ 31.7 million) to the winners of the Wealth Creation Contest held by the bank and provided loans of more than 3.6 billion yuan (US$ 571 million) to contestants who did not win.
The Postal Savings Bank has strengthened the innovation of financial products targeting small and micro businesses, improved the quality of financial services, and established 320 loan centers for small businesses in 90 percent of prefecture-level cities in China.
By the end of 2011, the Postal Savings Bank had recruited nearly 3,000 former village officials who were also university graduates. The 25 branches of the bank all over China are the first to recruit them in the banking industry. So far, the bank has recruited the greatest number of former village officials.