On October 25, the Postal Savings Bank of China (PSBC) received a formal written notice from the China Securities Regulatory Commission that its A-share IPO had been approved.
As one of the largest State-owned commercial banks, PSBC has nearly 40,000 outlets, covering 99% of China's urban and rural areas and serving nearly 600 million individual customers—over 40% of China’s total population. PSBC is positioned to serve "agriculture, rural areas and farmers", urban and rural residents and small and medium-sized enterprises, and is committed to providing services for the most dynamic customer base in China's economic transformation. Meanwhile, it is striving to build itself into a first-class large-scale retail bank which is trusted by customers, distinctive in features, stable and secure, innovation-driven, and superior in value.
With three features of differentiated retail strategic positioning, unique operation model and solid capital strength, and five advantages of excellent asset quality, good growth potential, advanced scientific and technological capability, strong shareholder support, experienced management team and cohesive young workforce, PSBC has a very broad development space.