On April 18, the 2022 Gold Medal List of Chinese Financial Institutions—the Golden Dragon Award was announced, and the Postal Savings Bank of China (hereinafter referred to as PSBC) was awarded the Best Commercial Bank of the Year.
The annual selection of the award has been initiated and hosted by the Financial News. It is currently the most influential signature event in the selection of outstanding financial institutions nationwide.
As a large state-owned commercial bank with nearly 40,000 business outlets, PSBC has been focusing on serving the agriculture, rural areas and farmers, urban and rural residents, and small and medium-sized enterprises. Relying on its unique model and resource endowment featuring directly-operated outlets and agency outlets, it is committed to meeting the financial needs of the most promising customers during China’s economic transformation. It has also been taking faster steps to transform into a new type of data-driven retail bank featuring coordinated channels, integrated retail and wholesale services and efficient operation. In 2022, PSBC strived to build five differentiated growth engines including rural revitalization, small and medium-sized enterprises, active credit granting, wealth management, as well as financial markets, and continually expanded its development space while implementing national strategies, supporting the real economy and improving the well-being and livelihood of the people. By the end of 2022, the total assets of PSBC reached 14.07 trillion yuan (about 2.03 trillion US dollars), its total liabilities reached 13.24 trillion yuan (about 1.91 trillion US dollars), the non-performing loan ratio was 0.84 percent, and the provision coverage rate was up to 385.51 percent. Its business development continued to improve, and its asset quality remained excellent.
In terms of social responsibilities, PSBC has been earnestly fulfilling the responsibilities of a large state-owned bank, and taking serving the real economy as its duty. It has been focusing efforts on agriculture, rural areas and farmers, contributing to the improvement of people's livelihood, supporting small and micro enterprises, and developing green finance, thereby promoting the sustainable development of economy, society and environment by means of finance. As of the end of 2022, PSBC’s agro-related loans had a balance of 1.81 trillion yuan (about 0.26 trillion US dollars), with over ten million households rated as creditworthy users. Plus, PSBC’s balance of inclusive loans for small and micro enterprises increased by 23.04 percent, while its balance of green loans increased by 33.38 percent compared with the end of the previous year.