Global EditionASIA 中文双语Français
Business
Home / Business / Finance

China's postal bank reports 1t yuan of outstanding microloans

Xinhua | Updated: 2022-03-25 13:24
Share
Share - WeChat
The Postal Savings Bank of China is seen in Hangzhou, Zhejiang province. [Photo/Sipa]

BEIJING -- The Postal Savings Bank of China, one of the country's state-owned banks, saw the outstanding amount of its microloans to small businesses stand at 1 trillion yuan ($157.23 billion) on Wednesday, the Shanghai Securities News reported on Thursday.

The lender has handled more than 6 trillion yuan of microloans for about 50 million customers, and each of the loans stood at more than 100,000 yuan on average, said the report.

The lender has been boosting digital transformation to provide easier access to microloans for clients.

With about 40,000 outlets, the bank serves customers in the agriculture sector and rural areas, urban residents, and small businesses.

The bank was officially established in March 2007 based on the reform of the previous postal savings management system. In January 2012, it transformed into a joint-stock limited liability company.

The lender's shares climbed 0.76 percent to 5.28 yuan on the Shanghai bourse on Thursday.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE