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PSBC officially included in SSE 50, CSI 300 and other major indices
PSBC officially included in SSE 50, CSI 300 and other major indices
| China Post |2020-06-02

On June 1, Shanghai Stock Exchange and China Securities Index Co., Ltd. released the list of sample stocks, which will come into effect on June 15, 2020. The Postal Savings Bank of China (hereinafter referred to as PSBC) is officially included in SSE 50 Index, CSI 300 Index and CSI 100 index in the A-share market.  

PSBC was listed on A-share market on December 10, 2019, marking the completion of the H-share and A-share dual listings of all large State-owned commercial banks in China. That was very important in fulfilling the three-step reform requirements for "joint-stock reform - bringing in strategic investors - listing on A and H share markets" stipulated by the State Council, establishing a long-term mechanism for capital replenishment and enhancing the capacity of serving the real economy. At the same time, PSBC’s A-share listing has made positive exploration and useful practice for the reform of capital market.

Since its listing on the H-share market, PSBC has been included in the Hang Seng Global Composite Index, Hang Seng Composite Index, Hang Seng China Enterprises Index, MSCI Index, Shanghai Composite Index, etc., and has joined the Stock Connect program.

As of the end of the first quarter of 2020, PSBC had nearly 40,000 business outlets that cover 99 percent of cities and counties in China. The number of its individual clients exceeded 600 million, accounting for more than 40% of China's total population. Its total assets reached 10.80 trillion yuan (about 1.524 trillion US dollars), ranking fifth in China's banking industry. Its operating revenue was 72.25 billion yuan (about 10.19 billion US dollars) (International Financial Reporting Standards), up 5.51% year on year. Its net profit was 20.105 billion yuan (about 2.84 billion US dollars), with a year-on-year increase of 8.39%. Its net interest margin (NIM) was 2.46% and net interest spread (NIS) 2.41%, remaining leading in the industry.  Its non-performing loan ratio was 0.86%, and the ratio of non-performing loan plus special-mention loan was1.42%, which reflects its good asset quality. The allowance coverage ratio reached 387.30%, which means the allowance coverage is sufficient.

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