Quick Facts

Where the impacts of the investment may be experienced.
  • China
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • International Finance Corporation (IFC)
Status: Active
Bank Risk Rating: FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Board Decision Date: 2015-06-09
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower or Client: Postal Savings Bank of China
The holder of the loan, grant, or other investment.
The service or industry focus of the investment. A project can have several sectors.
  • Finance
Investment Type(s): Equity
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD): $ 300.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.

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Primary Source

Original disclosure @ IFC website
Updated in EWS: 2017-08-10
Disclosure Date: 2016-09-15
PSBC Equity

Project Description
Postal Savings Bank of China (“PSBC”) is the 5th largest PRC commercial bank in terms of total assets and 5th largest in terms of total deposits as of March 31, 2016. It is a subsidiary of China Post Group Corporation (“CPGC”). As of March 31, 2016, PSBC had a total of 40,057 business outlets covering all cities in China and 98.9% of the county areas, and had a retail client base of 505 million. Leveraging its large network and broad coverage in urban and county areas in China, PSBC strategically focuses on providing financial services to communities, SMEs and Agriculture/ Rural/ Farmers (“ARF”, or “Sannong”) customers and are committed to meeting the financial needs of its customers. PSBC launched a pre-IPO private placement and offered approximately16.92% ownership stake through the issuance of new shares to a shortlist of international and domestic strategic investors, including IFC. This investment is consistent with IFC’s strategy for East Asia and China is a key market in achieving the WBG goal of universal financial access by 2020. China accounts for approximately 16% or almost 400 million people of the world’s 2.5 billion unbanked population. The investment in PSBC can play a critical and strategic role in expanding financial inclusion in China as it has one of the most extensive bank networks in the world and is also the leading bank in China for SME and rural finance. The partnership is a unique opportunity for IFC to reinforce and significantly expand its mandate of financial inclusion and poverty alleviation in China, given the aligned mandate between PSBC and IFC on financial inclusion, the unique broad outreach in frontier regions, and the potential growth of the institution.
Investment Description
Contact Information
Board Office, Postal Savings Bank of China, No. 3 Financial Street, Xicheng District, Beijing, 100808 Tel: +86-10-68857891 ACCOUNTABILITY MECHANISM OF IFC The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/