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PSBC enters top 20 global banks for the first time
PSBC enters top 20 global banks for the first time
| China Post News |2021-07-14

Recently, the three major international rating agencies Fitch, Moody's and Standard & Poor's released the 2021 rating results for Postal Savings Bank of China (hereinafter referred to as PSBC). According to the list of the top 1000 global banks in 2021 released by the British magazine Banker, PSBC entered the top 20 global banks for the first time with a tier one capital of 102.649 billion US dollars by the end of 2020, ranked 15th with a jump of 7 places.

On May 21, Fitch upgraded the viability rating of PSBC and affirmed the long-term Issuer Default Rating of PSBC at A+, with the outlook being stable. On July 1, Moody's affirmed the long-term domestic and foreign currency deposit rating of PSBC at A1, outlook being stable. On July 8, Standard & Poor's affirmed PSBC’s A long-term issuer credit rating and its outlook stable. The rating results of PSBC made by the three major international rating agencies have maintained the excellent level in China's banking industry.

With approximately 40,000 outlets and over 600 million individual customers, PSBC focuses on providing services to "agriculture, rural areas and farmers", urban and rural residents and SMEs. PSBC accelerates to make characteristic, integrated, light, digitalized, and intensive transformation and development, and strives to improve the level of customer service. PSBC is committed to becoming a first-class large retail bank with customer trust, distinctive features, steady security, innovation and excellent value.

The data shows that by the end of the first quarter of 2021, the total assets of PSBC are 11.96 trillion yuan (about 1.85 trillion US dollars), the total liabilities 11.21 trillion yuan (about 1.73 trillion US dollars), the deposit balance 10.82 trillion yuan (about 1.67 trillion US dollars), and the loan balance 5.99 trillion yuan (about 0.92 trillion US dollars). The non-performing loan ratio was 0.86%, which was a decrease of 0.02% from the end of the previous year, and the provision coverage ratio was 416.98%, up 8.92% compared with the end of last year. The asset quality continues to be excellent.

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