Postal Savings Bank of China Sees Net Profits Rise 14.48% in First Three Quarters of 2022

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Big state-owned lender Postal Savings Bank of China (PSBC) has seen double digit growth in net profits for the first three quarters of 2022.

PSBC’s operating revenues for the first three quarters of 2022 were 256.931 billion yuan, for year-on-year (YoY) growth of 7.79%, according to its quarterly report released on 26 October.

Net profits attributable to bank shareholders were 73.849 billion yuan for the first three quarters, for YoY growth of 14.48%. The annualised average return on assets was 0.76%, while the average weighed net return on equity was 13.90%, for YoY increases of 0.02 and 0.22 percentage points respectively.

As of the end of September PSBC’s total assets were 13.52 trillion yuan, for an increase of 7.43% compared to the end of last year. Total customer loans were 7.15 trillion yuan, for an increase of 10.81%, while total liabilities were 12.71 trillion yuan, for a rise of 7.74%.

Net revenues from processing fees and commissions were 23.639 billion yuan, for a YoY rise of 40.30%, comprising 9.20% of operating revenues, for a 2.13 percentage point increase compared to the same period last year.