Postal Bank owns most outlets in China

Having more than 36,000 outlets nationwide, China Postal Savings Bank (CPSB) has now become the financial institution with most outlets in China, according to statistics from the China Banking Regulatory Commission (CBRC).

CPSB was officially established on March 20, 2007. By the end of April this year, it has 36 first-tier branches, 307 second-tier branches and 5,043 sub-branches across the nation.

"As CPSB's outlets will cover all the cities, counties and major towns of the country, the bank will form the largest financial network connecting urban and rural areas and contribute to the reform of rural financial system," said a CBRC official.

The bank will commit itself to serving farmers and agricultural production, and take full advantage of the postal network, according to the official.

CPSB is now China’s fifth largest savings institute with 1.865 trillion yuan ($271 billion) of outstanding deposits as of April. It has also issued 200 million debit cards, the third most in the country.

Starting from RMB savings and agiotage at early stage, the bank has now involved in a variety of businesses including RMB and foreign currency liability service, intermediary business, bond investment and other operations allowed by commercial bank regulations.