China postal bank

China postal bank

La postal savings bank of china lève 4 milliards de dollars le

The cost of distribution using these approaches is only 45 CNY, and the sender is responsible for paying it. This is on top of a GBP 3.99/EUR 4.99 transfer fee and an optional payment fee if using such payment cards or cash vouchers (free payment options exist in most currencies).
Although this is a new service for us, we plan to complete the transfers the same day if completed before 12:00 GMT, or the next day if completed after 12:00 GMT.
The funds can take up to one additional day to be deposited.
If we have more experience with every part of the money transfer chain from you to China, we plan to implement more rapid transfers.

Postal savings bank of china with the most of outlets

By assets, the Postal Savings Bank of China (PSBC) is the country’s seventh largest commercial bank. After ICBC, Agricultural Bank, and China Construction Bank, it is the fourth largest bank in terms of deposits. Retail, SMEs, rural, and low-income consumers will all benefit from Postal Savings Bank’s broad range of banking and financial services. It employs approximately 170,000 people and serves over 500 million retail customers and 600,000 corporate clients across a network of over 40,000 locations, with more than two-thirds of them in rural areas, making it China’s largest rural financial network. PSBC is the only financial institution that provides banking services to local communities in many remote areas. The Hong Kong Stock Exchange approved Postal Savings Bank of China’s initial public offering (IPO) in 2016. (HKEX). The firm was founded in March 2007 and has its headquarters in Beijing. PSBC is a China Post Group wholly-owned subsidiary. PSBC had total assets of CNY8.266 trillion (US$1.2 trillion) as of December 31, 2016.

China’s postal savings bank may file for up to $8 bln hk ipo

PSBC’s Shanghai-listed shares [SHA:601658] soared to CNY5.52 (USD0.9) before closing 8.37 percent higher at CNY5.44. The bank’s Hong Kong stock [HKG:1658] ended the day at HKD5.27, up 10%. (USD0.68). It had risen as much as 17.5 percent to HKD5.63 earlier in the day.
According to the survey, Seattle-based Himalaya Capital purchased nearly one billion shares in PSBC in the fourth quarter, accounting for one fifth of the lender’s total stock, at an estimated average price of HKD4.22 (USD0.54) per share, according to recent data from the Hong Kong stock exchange. It added that this equates to a HKD4.2 billion investment.
Li Lu, the Chinese-American founder and chairman of Himalaya, is well-known for his business acumen. Warren Buffett, a US tycoon, has credited Li as one of the key sources of his fortune. Buffett was tipped off by Li in 2002 to buy shares in BYD, a new energy vehicle manufacturer. Buffett invested in the Chinese firm for the first time in 2008 for HKD8 per share. Buffett now owns 225 million shares of the company. Buffett has a more than 30-fold return on investment and has gained approximately USD50 billion, based on the closing price of HKD249 (USD32) yesterday.

Money talks: postal savings bank of china aims to go digital

Postal Savings Bank of China, headquartered in Beijing, is China’s fifth-largest commercial bank by deposits. The bank was established in 2007 as a subsidiary of China Post Group’s postal savings and remittance company. In 2012, the bank completed its joint-stock restructuring. In 2016 and 2019, the bank was listed on the Hong Kong and Shanghai stock exchanges, respectively. It has more than 500 million individual customers and over 40,000 outlets, making it one of China’s biggest customer bases and distribution networks.

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