Wallets/psbc
Postal Savings Bank of China (PSBC)
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Overview
Postal Savings Bank of China (PSBC) is Chinese Big-6 state-owned commercial bank + China Post Group Corp majority controlling + 390M mobile users early 2025 + 96% standard transactions migrated to digital channels + nearly 40,000 business outlets covering 99% of China's counties 1, 2, China report. 2025 baseline: PSBC 390M mobile users early 2025 + 96% standard transactions migrated to digital channels + mobile banking app v10.0 primary sales engine + nearly 40,000 business outlets covering 99% of China's counties through a dual-track model of direct and agency outlets; PSBC Integrated Retail Transformation distinctive Chinese rural + low income banking digital strategy; Mobile banking app v10.0 featuring interfaces for rural users and seniors distinctive Chinese state bank rural digital inclusion.
Distinctive PSBC positioning:
- Chinese Big-6 state-owned commercial bank (Postal Savings Bank of China Co Ltd; HKEX: 1658; SSE: 601658)
- China Post Group Corp majority controlling distinctive Chinese state-owned bank China Post heritage
- 390M mobile users early 2025 distinctive Chinese state bank mobile banking penetration
- 96% standard transactions migrated to digital channels distinctive Chinese state bank digital channel migration
- Mobile banking app v10.0 primary sales engine distinctive Chinese state bank mobile-first sales channel
- Nearly 40,000 business outlets covering 99% of China's counties through a dual-track model of direct and agency outlets distinctive Chinese state bank rural banking penetration
- PSBC Integrated Retail Transformation distinctive Chinese rural + low income banking digital strategy
- Mobile banking app v10.0 featuring interfaces for rural users and seniors distinctive Chinese state bank rural digital inclusion
- PSBC to Absorb Direct Banking Unit, Cutting Costs as Mobile Banking Grows distinctive Chinese state bank digital consolidation
History
1919 — Postal savings services launched in China as Chinese postal savings heritage.
Mar 20 2007 — Postal Savings Bank of China founded as Chinese state-owned commercial bank by separating postal savings business from China Post.
Sep 28 2016 — PSBC IPO on HKEX (Hong Kong Stock Exchange) under ticker 1658 distinctive Chinese state-owned bank Hong Kong listing.
Dec 10 2019 — PSBC SSE (Shanghai Stock Exchange) IPO under ticker 601658 distinctive Chinese state-owned bank Shanghai dual-listing.
Early 2025 — PSBC 390M mobile users + 96% standard transactions migrated to digital channels + mobile banking app v10.0 primary sales engine + nearly 40,000 business outlets covering 99% of China's counties through a dual-track model of direct and agency outlets 1, 2, 3.
Mar 2025 — PSBC to Absorb Direct Banking Unit, Cutting Costs as Mobile Banking Grows distinctive Chinese state bank digital consolidation.
Ownership & operator
Operating entity: Postal Savings Bank of China Co Ltd (HKEX: 1658; SSE: 601658; Chinese Big-6 state-owned commercial bank; China Post Group Corp majority controlling).
Major shareholders: China Post Group Corp (Chinese state-owned postal + financial services + logistics group) majority controlling + Chinese government + Chinese retail + institutional + foreign investors.
Regulators: PBoC (People's Bank of China) + NFRA (National Financial Regulatory Administration China).
Technical integration
PSBC mobile banking app v10.0 (iOS + Android; 390M mobile users early 2025; 96% standard transactions migrated to digital channels; mobile banking app v10.0 primary sales engine) + psbc.com online + PSBC nearly 40,000 business outlets covering 99% of China's counties through a dual-track model of direct and agency outlets + PSBC UnionPay + Visa + Mastercard cards; CNAPS + UnionPay + UnionPay QR + e-CNY (post-PBoC e-CNY pilot expansion); PSBC Integrated Retail Transformation distinctive Chinese rural + low income banking digital strategy + Mobile banking app v10.0 featuring interfaces for rural users and seniors distinctive Chinese state bank rural digital inclusion + PSBC to Absorb Direct Banking Unit, Cutting Costs as Mobile Banking Grows distinctive Chinese state bank digital consolidation.
Users & growth
Early 2025: PSBC 390M mobile users + 96% standard transactions migrated to digital channels + mobile banking app v10.0 primary sales engine + nearly 40,000 business outlets covering 99% of China's counties through a dual-track model of direct and agency outlets.
Use cases
Chinese retail + private + SME + commercial + rural + low income + senior banking via PSBC mobile banking app v10.0 + psbc.com online + PSBC nearly 40,000 business outlets covering 99% of China's counties through a dual-track model of direct and agency outlets + PSBC UnionPay + Visa + Mastercard cards; CNAPS + UnionPay + UnionPay QR + e-CNY (post-PBoC e-CNY pilot expansion); PSBC Integrated Retail Transformation distinctive Chinese rural + low income banking digital strategy + Mobile banking app v10.0 featuring interfaces for rural users and seniors distinctive Chinese state bank rural digital inclusion.
Implementations & partners
Operator: Postal Savings Bank of China Co Ltd (HKEX: 1658; SSE: 601658; Chinese Big-6 state-owned commercial bank; China Post Group Corp majority controlling); China Post Group Corp (Chinese state-owned postal + financial services + logistics group) majority controlling + Chinese government + Chinese retail + institutional + foreign investors.
Chinese Big-6 state-owned commercial banks: ICBC + ABC + BOC + CCB + BOCOM + PSBC distinctive Chinese state-owned banking sector.
Major Chinese banking + payments competitors: ICBC Mobile Banking (Industrial and Commercial Bank of China; HKEX: 1398; SSE: 601398; world's largest bank by assets) + Agricultural Bank of China (ABC Mobile Banking) (Agricultural Bank of China; HKEX: 1288; SSE: 601288; Chinese Big-4) + Bank of China (BoC) Mobile Banking (Bank of China; HKEX: 3988; SSE: 601988; Chinese Big-4) + China Construction Bank (CCB) Mobile Banking (China Construction Bank; HKEX: 939; SSE: 601939; Chinese Big-4) + Bank of Communications (BOCOM Mobile Banking) (Bank of Communications; HKEX: 3328; SSE: 601328; Chinese Big-5) + China Merchants Bank (CMB Mobile Banking + CMB Life) (China Merchants Bank; HKEX: 3968; SSE: 600036; Chinese commercial bank) + Alipay (Ant Group Alipay; Chinese mobile wallet; 1B+ active users) + WeChat Pay (Tencent WeChat Pay; Chinese mobile wallet; >1B users) + UnionPay QR (Chinese UnionPay card network).
Regulators: PBoC + NFRA.
Fun facts
- Chinese Big-6 state-owned commercial bank (Postal Savings Bank of China Co Ltd; HKEX: 1658; SSE: 601658).
- China Post Group Corp majority controlling distinctive Chinese state-owned bank China Post heritage.
- 390M mobile users early 2025 distinctive Chinese state bank mobile banking penetration.
- 96% standard transactions migrated to digital channels distinctive Chinese state bank digital channel migration.
- Mobile banking app v10.0 primary sales engine distinctive Chinese state bank mobile-first sales channel.
- Nearly 40,000 business outlets covering 99% of China's counties through a dual-track model of direct and agency outlets distinctive Chinese state bank rural banking penetration.
- PSBC Integrated Retail Transformation distinctive Chinese rural + low income banking digital strategy.
- Mobile banking app v10.0 featuring interfaces for rural users and seniors distinctive Chinese state bank rural digital inclusion.
- PSBC to Absorb Direct Banking Unit, Cutting Costs as Mobile Banking Grows distinctive Chinese state bank digital consolidation.
Comparison
| Feature | PSBC | ICBC Mobile Banking (Industrial and Commercial Bank of China rival; world's largest bank by assets) | Agricultural Bank of China (ABC Mobile Banking) (Agricultural Bank of China rival; Chinese Big-4) | Bank of China (BoC) Mobile Banking (Bank of China rival; Chinese Big-4) | China Construction Bank (CCB) Mobile Banking (China Construction Bank rival; Chinese Big-4) |
|---|---|---|---|---|---|
| Operator | Postal Savings Bank of China Co Ltd (HKEX: 1658; SSE: 601658; Chinese Big-6 state-owned commercial bank; China Post Group Corp majority controlling) | Industrial and Commercial Bank of China (HKEX: 1398; SSE: 601398; world's largest bank by assets) | Agricultural Bank of China (HKEX: 1288; SSE: 601288; Chinese Big-4) | Bank of China (HKEX: 3988; SSE: 601988; Chinese Big-4) | China Construction Bank (HKEX: 939; SSE: 601939; Chinese Big-4) |
| Type | Chinese Big-6 state-owned commercial bank + China Post Group Corp majority controlling + 390M mobile users early 2025 + 96% standard transactions migrated to digital channels + Mobile banking app v10.0 primary sales engine + nearly 40,000 business outlets covering 99% of China's counties + PSBC Integrated Retail Transformation + Mobile banking app v10.0 featuring interfaces for rural users and seniors | World's largest bank by assets + ICBC Mobile Banking | Chinese Big-4 + ABC Mobile Banking | Chinese Big-4 + BoC Mobile Banking + Hong Kong Bank of China + Macau Bank of China | Chinese Big-4 + CCB Mobile Banking |
| Country | CN + HK + GB | CN + 49 countries | CN + 18 countries | CN + 61 countries + HK + MO | CN + 30+ countries |
| Distinctive | 1919 Postal savings services launched in China; Mar 20 2007 Postal Savings Bank of China founding by separating postal savings business from China Post; Sep 28 2016 PSBC IPO on HKEX (1658); Dec 10 2019 PSBC SSE (601658) IPO dual-listing; Early 2025 390M mobile users + 96% standard transactions migrated to digital channels + Mobile banking app v10.0 primary sales engine + nearly 40,000 business outlets covering 99% of China's counties; Mar 2025 PSBC to Absorb Direct Banking Unit, Cutting Costs as Mobile Banking Grows | 1984 ICBC founding; 2006 ICBC dual-listing HKEX + SSE | 1951 ABC founding; 2010 ABC dual-listing HKEX + SSE | 1912 BoC founding (oldest Chinese bank); 2006 BoC dual-listing HKEX + SSE | 1954 CCB founding; 2005 CCB HKEX IPO + 2007 CCB SSE IPO |
Status
Active, Chinese Big-6 state-owned commercial bank + China Post Group Corp majority controlling + 390M mobile users early 2025 + 96% standard transactions migrated to digital channels + nearly 40,000 business outlets covering 99% of China's counties 1, 2, 3:
- Postal Savings Bank of China Co Ltd (HKEX: 1658; SSE: 601658; Chinese Big-6 state-owned commercial bank; China Post Group Corp majority controlling) since 1919 Postal savings services launched in China + Mar 20 2007 Postal Savings Bank of China founding by separating postal savings business from China Post + Sep 28 2016 PSBC IPO on HKEX (1658) + Dec 10 2019 PSBC SSE (601658) IPO dual-listing.
- PSBC 390M mobile users early 2025 + 96% standard transactions migrated to digital channels.
- PSBC Integrated Retail Transformation distinctive Chinese rural + low income banking digital strategy + Mobile banking app v10.0 featuring interfaces for rural users and seniors.
- PBoC + NFRA regulated.
Sources
- 1 Postal Savings Bank of China to Absorb Direct Banking Unit, Cutting Costs as Mobile Banking Grows — Yicai Global
- 2 Postal Savings Bank of China — Wikipedia
- 3 Sales and Marketing Strategy of Postal Savings Bank Of China (PSBC) Company — MatrixBCG
- China report In-corpus:
reports/countries/CN-china.md
Source
Biography extracted from psbc.md. See matrix.md for standards-support matrix if present.