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PSBC Beijing Branch Deposits and Credit Balances Surpass $14.95 Bil
PSBC Beijing Branch Deposits and Credit Balances Surpass $14.95 Bil2016-07-12

Deposits and credit balances at Postal Savings Banks of China (PSBC) Beijing both surpassed 100 billion yuan (U.S. $14.95 billion) as of July 1, with deposits reaching 100.6 billion yuan (U.S. $15.04 billion) and credit balances rising to 100.1 billion yuan (U.S. $14.97 billion). Deposit balances, distribution and net increase all rank first in the PSBC system.

Facing external challenges from economic changes, adjustment of the industrial structure and evolution of financial requirements, the Beijing branch used the economic characteristics of Beijing to develop big company financing, with large customers accounting for 69 percent of the total loan clients in the first half of the year.

The branch also signed debt-underwriting agreements with eight enterprises including China National Petroleum Corp (CNPC), Aluminum Corp of China and Shougang Group, promoting the company's business transformation from credit to finance.

(China Post)

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