The 12-month A-share acquisition plan by the controlling shareholder of Postal Savings Bank Of China Co.,Ltd. (PSBC) has been successfully concluded. On the evening of April 9, PSBC announced that from April 8, 2025, to April 7, 2026, China Post Group, the bank's controlling shareholder, purchased a total of 103 million A-shares through centralized bidding. This represents 0.0858% of the total share capital, with the acquisition amounting to approximately 526 million yuan.

In addition to the controlling shareholder's purchases, insurance capital and strategic institutions have also made significant investments in PSBC over the past year. At the end of March, PSBC released its 2025 annual report, revealing that its total assets surpassed 18 trillion yuan for the first time, reaching 18.68 trillion yuan. Asset quality remained stable, with the non-performing loan ratio staying below 1% for multiple consecutive years.

Notably, amid industry-wide pressure on net interest margins, PSBC's net interest income for 2025 saw a slight decline of 1.57%, a significantly narrower decrease compared to previous periods. The bank's net interest margin stood at 1.66%, which, although narrowed from 2024, led the state-owned big six banks. For comparison, the net interest margins of China Construction Bank, Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, and Bank of Communications were 1.34%, 1.28%, 1.28%, 1.26%, and 1.20%, respectively.

The share purchase plan by the controlling shareholder was fully implemented in compliance with regulations. Following the acquisition, China Post Group's total shareholding reached 62.359 billion shares, representing a 51.9244% stake.

During this period, PSBC also attracted substantial investment from insurance funds. Ping An Life Insurance was a major participant, increasing its holdings of PSBC's H-shares three times in 2025. In the A-share market, Ping An Life significantly raised its stake to 2.382 billion A-shares in the third quarter of 2025, becoming the bank's second-largest circulating shareholder with a 3.55% stake. Other leading insurers, such as China Life Insurance, also appeared among PSBC's top ten shareholders, continuing to increase their positions.

Concurrently, PSBC completed a 130 billion yuan private placement of A-shares in 2025, a key move involving national strategic capital injection that further strengthened the bank's capital base. The placement was priced at 6.21 yuan per share, issuing approximately 20.934 billion shares. Major state-owned strategic institutions participated, with the Ministry of Finance becoming a shareholder for the first time, acquiring 18.934 billion shares for 117.58 billion yuan and holding over 15%, making it PSBC's third-largest shareholder. China Mobile Group and China State Shipbuilding Corporation also participated, subscribing to 1.265 billion shares and 735 million shares, respectively.

Following the private placement, PSBC's total share capital increased from 99.16 billion shares to 120.095 billion shares, an expansion of about 21%. The net proceeds, after deducting issuance costs, were approximately 129.962 billion yuan, all allocated to supplement core tier-1 capital. This is expected to raise the core tier-1 capital adequacy ratio by 1.5 percentage points, effectively enhancing the bank's risk resilience and credit expansion capacity.

PSBC's core tier-1 capital adequacy ratio has shown consecutive annual growth. According to the annual report, the ratio was 9.53% at the end of 2023, 9.56% at the end of 2024, and rose to 10.53% by the end of 2025, exceeding 10% for the first time in nearly a decade.

PSBC achieved growth in both revenue and profit while optimizing its income structure. The bank reported annual operating revenue of 355.728 billion yuan, a year-on-year increase of 1.99%, and a net profit attributable to shareholders of 87.623 billion yuan, up 1.05%.

The structure of income continued to improve. In 2025, PSBC's non-interest net income totaled 74.108 billion yuan, a significant increase of 18.47% year-on-year, accounting for 20.83% of operating revenue—a rise of 2.87 percentage points. This effectively helped offset pressure from declining interest margins. Net fee and commission income reached 29.365 billion yuan, surging 16.15%, while other non-interest net income grew by 19.73%. The bank indicated that its profit model is accelerating its transition from being primarily driven by interest margins to a dual-driver model incorporating fee-based income.

Wealth management emerged as a core driver within the net fee and commission income. As the only state-owned major bank positioned as a retail bank, PSBC's assets under management (AUM) exceeded 18.30 trillion yuan by the end of 2025, a 9.64% increase. VIP, affluent, and high-net-worth client segments all recorded double-digit growth, with the wealth management client base expanding multifold. Personal deposits stood at 14.69 trillion yuan, reinforcing the advantage of low-cost core liabilities. Monthly active users of the mobile banking app surpassed 90 million, and businesses such as wealth management product distribution, fund sales, and insurance agency services experienced rapid growth. The private banking sector is accelerating its layout, further solidifying the pivotal role of retail banking.

PSBC's leading position in inclusive finance continued to strengthen. By the end of 2025, the bank's outstanding loans for the agricultural sector amounted to 2.51 trillion yuan, and loans for inclusive small and micro enterprises reached 1.80 trillion yuan. It served over 100,000 technology-based enterprises, with technology loan balances exceeding 950 billion yuan and green loan balances surpassing 1 trillion yuan, comprehensively advancing its focus on technology, green finance, inclusivity, pension services, and digitalization. Leveraging its presence in lower-tier markets and an active credit granting model, PSBC's financial services precisely cover key areas such as rural revitalization, small and micro enterprises, and technological innovation.

As of the end of 2025, PSBC's total assets amounted to 18.68 trillion yuan, an increase of 9.35% year-on-year. Total liabilities were 17.52 trillion yuan, up 9.13%. Customer deposits reached 16.54 trillion yuan, and total customer loans stood at 9.65 trillion yuan, increasing by 8.20% and 8.25%, respectively.

It is important to note that although PSBC's non-performing loan ratio remains within a favorable range among state-owned large banks, the indicator increased by 0.05 percentage points from the end of 2024 to 0.95%.