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WorldJuly 1 2014

From out of nowhere: the Postal Savings Bank of China

Over the past seven years, the Postal Savings Bank of China has emerged out of nowhere to establish the largest banking network in the world. Stephen Timewell assesses its meteoric rise.
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From out of nowhere: the Postal Savings Bank of China

Which bank has the largest banking network in the world? It would be no surprise to hear it is a Chinese bank, but it is quite a shock to learn that this Chinese bank, established in 2007, not only has a network of 39,700 branches but also has a larger network than both Industrial and Commercial Bank of China and Agricultural Bank of China combined.

The Postal Savings Bank of China (PSBC) is the new kid on the block, and it is making quite a splash. PSBC enters The Banker’s Top 1000 World Bank’s ranking this year at 63rd in the world and 12th in China, and all the signs point to there being a lot of growth and expansion to come. Also, besides the nearly 40,000 branches, PSBC has 600 million individual customers, the largest number of customers in China, and 1.2 billion renminbi and foreign currency accounts across the country.

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