Postal Savings Bank Ltd. Co. of China (hereinafter referred to as Postal Savings Bank) officially hung up its shingle on March 20, 2007, which is a commercial bank established on the basis of reform of postal savings management system. Since its re-opening of business in 1986, Postal Savings Bank has built a financial service network for individuals covering the whole nation with the most widespread branch post offices and the largest turnover.
At present, Postal Savings Bank has 37,000 business offices for savings service, 45,000 business offices for exchange service and 20,000 business offices for international remittance service. Postal Savings Bank of China will continuously diversify its service products, expand distribution channels and improve service functions relying on postal network's advantages and according to the modern framework for corporate governance as well as the requirements of management for commercial banks to provide more complete and convenient basic finance services and create a modern bank with adequate capital, rigorous interior control, safe operation, complete functions and high competitiveness.
Under the guideline of "Deepening reform and accelerating transformation", Postal Savings Bank highlights the three subjects as service expansion, risk control and team building, insists on proper orientation for market and innovation, seriously carries out social responsibilities and actively enhances sustaining promotion of profit-making ability and management level. In 2009, total business income reached 58.381 billion yuan, a growth of 27.04% up to 12.427 billion over the previous year; ROE was 9.70%, an increase of 6.76% over the previous year. By the end of the year, CAR was 8.04% and core CAR was 7.48%, which matches the request in general.