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Public company info - Postal Savings Bank of China Co. Ltd.-H shares , 01658.HK

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Postal Savings Bank of China Co. Ltd.-H shares, 01658.HK - Company Profile
Chairman Li Guohua
Share Issued (share) 4,294,967,295
Par Currency Renminbi
Par Value 1.0
Industry Banks
Corporate Profile Business Summary: The bank is a leading retail bank in China with the largest distribution network, largest customer base and superior asset quality. Established in 2007, the bank is the youngest Large Commercial Bank and have significant growth potential. Performance for the year: As at the end of 2016,the Group’s Bank’s asset amounted to RMB8,270 billion, representing an increase of 13.28%as compared to the previous year. Total deposit balance amounted to RMB7.29 trillion,representing an increase of 15.56% as compared to the previous year. Total loansto customers amounted to RMB3.01 trillion, representing an increase of 21.80% ascompared to the previous year. Profits before income tax for the year amounted toRMB42,928 million, representing an increase of 3.72% as compared to the previousyear; net profits amounted to RMB39,776 million, representing an increase of 14.11% ascompared to the previous year. Business Review: In the previous year, in face of the complicated economic and financial environmentand the arduous reform and development tasks, the Group adhered to a prudent and solidoperational philosophy, considered building ourselves a first-tier large retail bank as thegeneral direction, and actively adapted to the economic new normal, deepened reform,adjusted the Group’s structures, controlled risks in a strict manner, and successfully fulfilled alltasks and achieved remarkable results. The asset grew rapidly and the profitability rose steadily.As at the end of 2016,the Group’s Bank’s asset amounted to RMB8,270 billion, representing an increase of 13.28%as compared to the previous year. Total deposit balance amounted to RMB7.29 trillion,representing an increase of 15.56% as compared to the previous year. Total loansto customers amounted to RMB3.01 trillion, representing an increase of 21.80% ascompared to the previous year. Profits before income tax for the year amounted toRMB42,928 million, representing an increase of 3.72% as compared to the previousyear; net profits amounted to RMB39,776 million, representing an increase of 14.11% ascompared to the previous year. Deepening reform was speeded up and the development momentum was fullyinspired. The Group completed the Group’s initial public offering of H Shares which attracted enormousinvestments from renowned overseas and domestic investors, raising HKD59.15 billion,which was the largest IPO project in the last two years globally, and effectively enhancedour corporate governance and comprehensive competitiveness. Carrying forward theindependent business line reform, the Group set up Sannong Finance Department to furtherenlarge, strengthen and specialize the Group’s proficiency of providing Sannong financialservices. The comprehensive operation arrangement accelerated. PSBC ConsumerFinance has made a good start in its business development and risk management, andthe Group proactively applied for the incorporation of PSBC Financial Leasing Company (中郵金融租賃有限公司(籌)). Transformation development demonstrated fruitful achievements, and thebusiness structure was constantly optimized. Retail finance business remainedstable with positive progress. The Group’s personal deposits increased by RMB823,536 millionor 15.29% as compared to the end of the previous year; the Group intensively promoted thecooperation platform among government, banks and guarantors, to contribute effortsinto serving contemporary agriculture and increase the scale of loans to new agricultureoperation entities; developed small and micro finance businesses of “Innovation andEnterpreneurship” related to the fields of people’s livelihood and government-bankcooperation, accelerated transformation of traditional financial businesses; formed the“Family One (郵你有家)” enterprises alliance in the consumer industry and launched a“Cheer up for your happiness (幸福•加郵)” thematic marketing campaign, increasingpersonal consumer loan by RMB364,723 million, representing an increase of 49.49%as compared to the end of the previous year, leaving a balance over RMB1 trillion. Withthe corporate financial services expanding rapidly, corporate deposits increased byRMB157,417 million, representing an increase of 17.16% as compared to the end ofthe previous year; prioritized corporate loans national strategic industries and emergingindustries, promoted linkage between investment, loans and debts to meet the diversefundraising needs of clients and increased by RMB98,412 million, representing anincrease of 10.03% as compared to the end of the previous year. Financial marketbusiness created the “financing + intelligence” business model in line with the supplysidestructural reform, and actively served to stabilize growth, adjust structure, benefitthe people and prevent risks. The Bank fully initiated the internet finance developmentplan and emphasized the establishment of “PSBC e-loan” product series, with doubledtrading volume of e-payment. Risk management mechanism produced remarkable results, and the quality ofasset remained superior.The Group widely promoted comprehensive risk managementsystem, enhanced capital constraints, determined the risk preferences and riskmanagement policy, optimized the mechanism of dynamic adjustment of risk quota;promoted reasonable asset allocation, optimized asset quality control, implemented thedual control mechanism on the increase and balance of non-performing loans, prudentlyand fully accrued impairment allowance; actively established the internal ratings systemand risk data mart to improve quantitative risk management standard and decisionmakingsupporting ability; steadfastly carried forward the building of internal controlsystem and continuously reinforced the basis of internal control management. As of theend of 2016, the Group’s non-performing loan ratio was 0.87%, allowance coverage ratio was271.69%, reflecting the superior asset quality. Operation Capability was continuously enhanced, and management efficiencyfully enhanced.The Group actively carried out independent technological innovation topromote the Thirteenth Five Year IT Plan construction, and successfully put forward94 key projects including the internet finance cloud platform and retail loan factory.The Group realized a groundbreaking progress in block–chain technique application and oursoftware development center was certified by the international CMMI3 accreditation.The Group kept the overall information technology risk under control and maintained acomparable high successful trading rate of core business systems. The Group reinforced assetand liability coordination management, enhanced the linkage between asset allocationand capital constraint. The Group facilitated the coordinative and stable growth among assetand liability, risk and income. The Group perfected interest rate management mechanism andlaunched a pricing management system and optimized structuring approach of theFTP curve, strengthening the pricing ability in a practical manner. By optimizing budgetmanagement measurement, the Group strengthened the centralized management of financialcapital, and actively promoted financial management transformation, which aggregatelylead to a firm foundation for financial management with outstanding benefits. Prospects: In 2017, the Group will stick to the Group’s large retail bank positioning and adapt to the economic newnormal, insist on pursuing progress in a stable growth, firmly build up a value creationphilosophy, consider accelerating the transformation as the general requirement,improving quality and efficiency as the overall goal, and the reform as the Group’s motivation; soas to increase income, lower cost, control risks, improve technology and strive to buildup an outstanding listed bank!

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