Recently, the three major international rating agencies, Moody's, Fitch Ratings and Standard & Poor's, successively released their rating results for the Postal Savings Bank of China (hereinafter referred to as PSBC) in 2022.
On October 18, Moody's affirmed its rating of PSBC’s long-term deposits of domestic and foreign currencies at A1 with a stable outlook. On November 22, Fitch Ratings affirmed PSBC’s long-term Issuer Default Rating at A+ with a stable outlook. On December 1, Standard & Poor's affirmed PSBC’s A long-term issuer credit rating and its stable outlook. The rating results produced by the three major international rating agencies reveal that PSBC is still maintaining a leading position in China's banking sector.
By the end of the third quarter of 2022, PSBC had total assets of 13.52 trillion yuan (about 1.94 trillion US dollars), up 7.43 percent compared with the end of last year, total liabilities of 12.71 trillion yuan (about 1.82 trillion US dollars), up 7.74 percent compared with the end of last year. With its non-performing loan ratio accounting for only 0.83 percent and its provision coverage ratio up to 404.47 percent, PSBC’s asset quality continues to be excellent. According to the list of the Top 1000 World Banks 2022 released by the British magazine The Banker, PSBC moved from 15th last year to 13th with its Tier 1 capital of 124.491 billion US dollars by the end of 2021.