On March 30th, China Postal Savings Bank released its 2025 annual report. As of the end of 2025, Postal Savings Bank of China's total assets amounted to RMB 1.868 trillion, with operating revenue of RMB 355.728 billion and net profit of RMB 87.623 billion.

Faced with macroeconomic cyclical fluctuations, Postal Savings Bank of China has demonstrated operational resilience with steady performance. As a top retail student in the banking industry, Postal Savings Bank of China's retail performance is also an important perspective for evaluating the industry's performance and resilience.

Looking at retail performance: the "ballast stone" that stabilizes the chassis

For the performance in 2025, some analysts believe that Postal Savings Bank of China has delivered a "stable" answer sheet - steady growth in benefits, solid risk control and prevention, and stable interest margin advantages.

According to the annual report, as of the end of 2025, the total assets of Postal Savings Bank of China reached RMB 18.68 trillion, an increase of 9.35% compared to the end of the previous year; Achieved operating revenue of 355.728 billion yuan (in accordance with Chinese Enterprise Accounting Standards, the same below), a year-on-year increase of 1.99%, of which net income from handling fees and commissions was 29.365 billion yuan, a year-on-year increase of 16.15%; The total profit reached 98.221 billion yuan, a year-on-year increase of 3.84%, and the net profit reached 87.623 billion yuan, a year-on-year increase of 1.05%; The net interest margin reached 1.66%, continuing to maintain the optimal level of state-owned banks.

In terms of risk control, Postal Savings Bank of China strictly adheres to the bottom line of asset quality control, continuously improves the "comprehensive, full process, full-time, and comprehensive" risk management system, increases risk constraints and resolution efforts, and maintains stable asset quality indicators. As of the end of 2025, the non-performing loan ratio of Postal Savings Bank of China is 0.95%, the provision coverage ratio is 227.94%, and the asset quality continues to maintain a leading level among state-owned banks.

Behind the steady performance, Postal Savings Bank of China's retail finance is steadily advancing and solidifying its strategic position. As of the end of 2025, the customer deposits of Postal Savings Bank of China reached 1.654 trillion yuan, an increase of 8.20% compared to the end of the previous year; The total amount of customer loans reached 9.65 trillion yuan, an increase of 8.25% from the end of last year. Among them, personal deposits reached 14.69 trillion yuan, an increase of 7.80% from the end of last year; Personal loans reached 4.84 trillion yuan.

According to annual report data, by 2025, Postal Savings Bank of China will serve 681 million individual customers and manage personal customer assets (AUM) of 1.83 trillion yuan, an increase of 9.64% from the end of the previous year. During the 14th Five Year Plan period, the new scale of AUM exceeded 7 trillion yuan, and the number of VIP customers with assets of 100000 yuan or more reached 59.7992 million.

With the advantage of a large individual customer base, Postal Savings Bank of China continues to deepen its services in the retail finance field. We will implement precise policies and focus on layout in consumer credit, making it a key focus to promote the recovery and warming of the consumer market, fully unleash consumption potential, and help the economy achieve a virtuous cycle. In 2025, Postal Savings Bank of China will actively respond to the national policy of expanding domestic demand, establish a special team for financial interest subsidies, customize standardized and modular operation processes for consumer credit, and bridge the "last mile" of policy implementation; In response to the service needs of customer scenarios, we will organically combine the benefits of people's livelihood with the promotion of consumption, increase the promotion of fast payment and credit cards, focus on key scenarios such as cultural tourism, catering, and shopping, fully unleash the potential of scenario consumption, and fully meet the diversified financial needs of urban and rural residents.

As of the end of 2025, the balance of consumer credit of Postal Savings Bank of China is 3.02 trillion yuan, and the balance of small loans is 1.62 trillion yuan, with a steady increase in market share.

Strategic Upgrade: Building Differentiated Growth Poles

Only with deep roots can leaves flourish. The vitality of a big tree comes from its depth and breadth of rooting downwards.

The advantage of being rooted in the county has built a deep "moat" for Postal Savings Bank. Data shows that by the end of 2025, among the personal deposits of 14.69 trillion yuan, Postal Savings Bank of China's personal deposits at or below the county level accounted for nearly 70% of the bank's total personal deposits.

How to continuously expand its retail advantage, Postal Savings Bank of China's measures are to activate new growth momentum in retail business through differentiated competitive advantages.

In 2025, new progress will be made in the systematic construction of the retail sector. The annual report shows that Postal Savings Bank of China continues to upgrade its wealth management, deepen its customer segmentation management system, initiate private banking business construction, comprehensively enhance its capabilities, and promote growth. At the same time, intensive management improves quality and efficiency, innovates new models for proactive credit development, and empowers the development of retail credit business throughout the bank.

To better serve the financial needs of different customer groups, Postal Savings Bank of China has upgraded its customer segmentation and classification service system, continuously improving the quality and efficiency of financial services. Among them, providing convenient experience services to the general public, focusing on the comprehensive financial service needs of the general public, building a retail finance ecosystem driven by "basic services+characteristic scenarios", and providing convenient, warm, and intelligent financial service experiences for the general public. By providing professional support to safeguard wealth clients, we will strategically establish a wealth management department in early 2025 to systematically reshape our business development model, focus on building core professional capabilities, gain in-depth insights into clients' asset allocation needs in low interest rate environments, help clients achieve asset preservation and appreciation, and promote steady growth and continuous optimization of our wealth management business scale and structure.

As of the end of 2025, the number of Fujia customers with assets between RMB 500000 and RMB 6 million reached 6.717 million, an increase of 15.73% compared to the end of the previous year.

In addition to changes in customer segmentation, the logic of retail credit is also being reshaped. In its annual report, Postal Savings Bank of China provided a more comprehensive introduction to the proactive credit lending method - proactive credit is an online credit business model innovatively created by Postal Savings Bank of China based on its strategic positioning and resource endowment advantages, which achieves credit scale growth and comprehensive customer operation at low operating costs. This project was launched in September 2022, and after more than three years of development, it has achieved a balance and unity in four aspects: rapid business growth, effective risk management, low operating costs, and excellent customer experience. It has become one of the differentiated growth poles of Postal Savings Bank of China.

From the data, the active credit business has grown rapidly. As of the end of 2025, the balance of personal customer active credit loans has exceeded 350 billion yuan, with a compound annual growth rate of 138% in the past three years. At the same time, Postal Savings Bank of China's risk management is effective, and the non-performing loan ratio of active credit loans is always controlled within 1%, significantly lower than other similar businesses, achieving low-cost investment and high-value returns.

Assessing Development Potential: Continuously Consolidating Retail Advantages

In the context of increasingly homogenized competition in the banking industry, only by continuously strengthening differentiation advantages can we maintain our leading position.

Compared to large banks, Postal Savings Bank of China has a lower deposit to loan ratio, smaller scale of old energy business, stable sources of funds, greater room for maneuver, lighter historical burden, and a better starting point for entering new energy; The network sinks deeper and has strong coverage in counties and below, which has advantages for institutional and retail businesses that need to sink. Compared to small and medium-sized banks, Postal Savings Bank of China has the advantages of brand reputation, scale, technological talent, and the ability to mobilize resources through a nationwide strategy. It has stronger service capabilities in major national project construction and cross provincial cross-border fields. At the same time, backed by China Post, it has natural advantages in logistics finance, e-commerce finance, bank securities insurance collaboration, "finance+non-financial" and other fields. This year, it will vigorously explore new businesses such as "delivery+settlement+loans" and "consumption+payment+loans".

Looking towards the future, Postal Savings Bank of China will focus on promoting the upgrading of "six modernizations". To create differentiated advantages through "specialization", to break through capital constraints through "lightweighting", to upgrade business models through "comprehensiveness", to deepen customer to customer connections through "ecologicalization", to enhance management efficiency through "refinement", and to activate growth momentum through "digitization".

At the performance conference, it is reported that Postal Savings Bank of China has set a target of increasing customer base by tens of millions this year, with a focus on accelerating the growth of its private and young customer groups; AUM is mainly based on deposits, and this year we will seize market opportunities to achieve significant growth in non deposit AUM; Reshaping the operational and risk control systems of retail credit will stimulate growth potential, which will consolidate and strengthen the retail advantages of Postal Savings Bank of China.

In 2026, Postal Savings Bank of China actively seeks breakthrough development in wealth management business and has formulated clear strategies for business development. One is to resolutely expand the private customer base of wealth. Postal Savings Bank of China will explore potential new customers through a combination of internal and external strategies. Internally, it aims to tap into the potential of its existing 681 million customer resources; Externally, we use professional products and services to attract funds. The second is to focus on urban areas. County level regions have always been the traditional advantage of Postal Savings Bank of China, but in order to achieve a comprehensive breakthrough in wealth management business, urban businesses must make efforts and enhance their contributions. The third is to strengthen the headquarters' ability to select products. Postal Savings Bank of China continues to enhance its professional capabilities in market analysis and product layout. This year, on the basis of consolidating traditional products such as insurance and absolute return strategies, it has increased the layout and growth of flexible products such as fixed income+, equity funds, and gold reserves, in order to achieve balanced product development. The fourth is to continue to strengthen the construction of the "5+1" system. The focus of this year is to strengthen the implementation and execution, by clarifying the standard actions of each level and position, so that the tactics and strategies can be efficiently transmitted and executed in the branches, achieving overall business scale growth.

Since 2018, Postal Savings Bank of China has maintained a stable dividend ratio of 30%, with a cumulative dividend of nearly RMB 186.2 billion since its listing. At the same time, it actively responded to the mid-term dividend distribution and provided currency options for H-share shareholders, increasing investors' sense of gain. During the 14th Five Year Plan period, Postal Savings Bank of China generated a total profit of 422.7 billion yuan and saw a significant increase in market value, achieving the preservation and appreciation of state-owned capital. This is the best interpretation of Postal Savings Bank's strategy and performance.