The Postal Savings Bank of China (PSBC) released a report titled ‘Inclusive Financial Business Report of 2013’ in Beijing on February 27, 2014. This is the first time the PSBC has ever released an inclusive financial business report in seven years, and it is also the first of its kind in China’s commercial bank system.
The report, which indicates the development history of China’s inclusive financial business, shows that the PSBC has developed into a competitive financial service institution, with a financial service network for individuals covering the whole nation, with the most widespread post office branches and the largest turnover since it re-opened for business in 1986.
At present, the Postal Savings Bank has 37,000 business offices for savings services, 45,000 business offices for exchange services and 20,000 business offices for international remittance services. Its total number of customers has reached 430 million. The balance of the bank has surpassed 5.2 trillion yuan (U.S. $846.04 billion) which has seen the PSBC listed as No. 5 among all the banks in China. The total assets of the bank have reached 5.58 trillion yuan (U.S. $907.9 billion) making the PSBC No. 7 among all the banks in China.