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China's PSBC reports net profit up 9.71 pct on-yr in 2018

March 27, 2019


Abstract : Postal Savings Bank of China reported on Tuesday that its net profit attributable to shareholders in 2018 amounted to about 52.31 billion yuan, up 9.71 percent year on year, according to the bank's filing to the Hong Kong Exchanges and Clearing Limited.

BEIJING, March 28 (Xinhua) -- Postal Savings Bank of China (PSBC, 01658.HK) reported on Tuesday that its net profit attributable to shareholders in 2018 amounted to about 52.31 billion yuan, up 9.71 percent year on year, according to the bank's filing to the Hong Kong Exchanges and Clearing Limited.

This is the first time that the bank discloses its annual report after being included as one of China's large state-owned commercial bank.

PSBC's operating income in 2018 was about 261.25 billion yuan, up 16.18 percent year on year, according to the filing.

The bank's total asset stood at 9.52 trillion yuan by the end of 2018, showing an increase of 5.59 percent over the end of 2017, while its total liabilities reached 9.04 trillion yuan by the end of 2018, up 5.36 percent year on year.

PSBC has made greater efforts in 2018 to serve rural areas in China and facilitate rural revitalization.

Data showed that by the end of 2018, the bank's balance of agriculture-related loans reached 1.16 trillion yuan, up 107.29 billion yuan or 10.18 percent compared with the prior year end. The balance of corporate loans to small and micro enterprises amounted to 544.99 billion yuan in 2018, covering 1.46 million accounts, and the balance of the targeted poverty alleviation loans was 93.86 billion yuan by the end of 2018, up 52.49 percent over the same period of 2017. (Edited by Su Dan)

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Keyword: PSBC annual report net profit

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