Who is the major shareholder of Postal Savings Bank ?
Post Savings Bank full name is, China Postal Savings Bank Co., Ltd. ; major shareholder, China Post Group Co., Ltd. ; industry category, Finance, banking, monetary and financial services.
Post Savings Bank registration (office) address , No. 3 Financial Street, Xicheng District, Beijing, 40th Floor, Daxin Financial Center, No. 248 Queen's Avenue East, Wanchai, Hong Kong; Shanghai Stock Exchange Main Board Listed, Securities Code, 601658.
Post Savings Bank , Chairman of , Mr. Liu Jianjun ; Legal representative, Mr. Zhang Jinliang ; General manager, Mr. Liu Jianjun ; registered capital (yuan), 92.38 billion; number of employees of , 175009; secretary of the board, Securities Affairs Representative , Mr. Du Chunye .
Postal Savings Bank 's main business , absorbs public deposits; issues short-term, medium-term and long-term loans; handles domestic and foreign settlements; handles bill acceptance and discount ; issuance of financial bonds; agency issuance, agency redemption, underwriting government bonds; buys and sells government bonds and financial bonds; engages in interbank lending; buys and sells foreign exchange; engages in bank card business; provides letter of credit services and guarantees; agency collection and payment and agency insurance business; provides safe services; other businesses approved by China's banking regulatory agencies and other regulatory departments.
Postal Savings Bank adjusts the agency savings deposit rate, which can directly bring about 1%-1.5% performance improvement at the financial level; at the strategic level, it can promote the transformation of agency outlets from absorbing thinking to wealth management thinking, open up new space for the growth of Postal Savings AUM, and improve the brand value of Postal Savings Wealth Management.
Event Overview
Postal Savings Bank Announcement Signed an Supplementary Agreement with Postal Group to adjust the savings deposit agency rate. The agency fees for 2-year, 3-year and 5-year savings deposits will be reduced by 15bp, 20bp and 20bp respectively, and the agency fees for current and 1-year savings deposits will be increased by 3bp and 2bp respectively. It will take effect after the signing and stamping of the representative/authorized representative and the approval of the Postal Savings Bank shareholders' meeting. Calculated according to the adjusted fee rate, the savings deposit agency fee can be reduced by 1.006 billion yuan in 2021, and the comprehensive fee rate can be reduced to 1.27%, a decrease of 2bp.
Main views
1. The financial level can directly bring about 1%-1.5% performance improvement
(1) The direct income brought about by the adjustment of deposit agency fee rate is about 1%. According to the adjusted fee rate, the agency fees for savings deposits can be reduced by 1.006 billion yuan in 2021, the cost-to-income ratio can be reduced by 0.32pc to 58.69%, the net profit attributable to shareholders can be increased by about 1%, and the earnings per share can be increased by about 0.01 yuan.
(2) Optimization of deposit structure and interest rate cuts will increase returns to 1%-1.5%. The asymmetry of this rate adjustment has increased the incentives for agency outlets to absorb current and 1-year savings deposits, reduced the incentives for absorbing 2-year and above savings deposits, and will drive the proportion of low-cost savings deposits to rise and the proportion of high-cost savings deposits to decline. With the optimization of the structure, the interest payment rate of savings deposits will tend to decline; combined with the effect of deposit interest rate cuts, it is expected that the direct performance increase brought by this adjustment at the financial level will be in the range of 1%-1.5%.
Key points to support rating
significantly lowered agency fees in the second, third and fifth years. The actual impact under the trend of deposit periodization may be better than the calculation. This rate adjustment significantly lowered agency fees in the two-year, three-year and fifth years, by 15bp, 20bp, and 30bp, respectively, and slightly increased the agency fees for current deposits and one-year deposits by 3bp and 2bp. The company announced that based on agency savings deposits in 2021, based on the adjusted rating rate, the savings agency fee in 2021 was reduced to 93.376 billion yuan to 92.370 billion yuan, a decrease of 1.006 billion yuan; the comprehensive fee rate dropped from 1.29% to 1.27%, and the actual situation may be better than the company's calculations.
rate adjustment is intended to guide agency outlets to strengthen current deposit marketing. The core is "wealth transformation". Among the personal deposits obtained through agency outlets in 2021, current deposits account for 26.7%, and the main one, two-year and three-year fixed-term varieties, accounting for 50.2%, 7% and 10.7% respectively. After the adjustment, the current agency fee was 1.23/1.98/2.23 percentage points higher than one year, two years and three years, respectively, and the fee difference was increased compared with before the adjustment. The rate adjustment makes current deposit agency fees more advantageous than other types of deposits, which is conducive to guiding agency outlets to strengthen low-cost debt marketing such as current deposits. The core direction of controlling shareholders and banks is "wealth transformation". This fee adjustment reflects their strategic determination and active promotion.
rate adjustment is conducive to the adjustment of personal deposit structure of Postal Savings Bank and personal deposit cost control of personal deposits in Postal Savings Bank. The overall cost of personal deposit agents of Postal Savings Bank is deposit cost + agency fee. Referring to the deposit pricing after the deposit interest rate was lowered in September and the adjusted fee rate, the current cost + agency fee is 2.58%, and other one-year, two-year and three-year fixed deposits account for 2.78%, 2.5% and 2.7%. Overall, this adjustment is also conducive to optimizing the deposit structure and reducing the overall deposit cost for Postal Savings Bank.
Excellent asset quality and prudent risk management. The bank's loan issuance is mainly aimed at large enterprises, small enterprise legal persons and individual customers. Large-scale enterprise loans account for a high proportion of our bank's corporate loans. Loan customers are all excellent enterprises with high credit ratings, mainly large-scale infrastructure construction projects, industry leading enterprises and their core subsidiaries. The bank's large-scale enterprise credit approval authority is mainly concentrated in the head office and first-level branches with strong risk control capabilities to ensure that credit risk is controllable. The bank's personal consumption loans, personal business loans, personal micro loans and small business corporate loans are all small, and the dispersed loan portfolio effectively reduces the bank's credit risk.
: successful stock trading requires four hearts: patience, care, determination, and cruelty. Only by establishing a trading system that suits you and executing it unconditionally in actual combat can you be proud of the stock market.
Dear, likes is the greatest encouragement to the author. Please use your good luck to follow Axue Finance. I will share stock market knowledge every day, thank you!
