Banking News
- Postal Savings Bank opens for business
Date: 21-Mar-2007 Sources: (Shenzhen Daily)
POSTAL Savings Bank of China opened for business yesterday in Beijing, allowing the country's fifth-largest bank by deposits to expand its lending after years of being the deposit-taking arm of the State postal service.
The bank, which has a network of 36,000 outlets attached to the postal network, is fully owned by China Post Group. The State Council created China Post Group in August by separating the business and regulatory functions of the country's postal system.
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