3 6 Ke·2025-09-24 07:57Core Viewpoint - Postal Savings Bank of China (PSBC) announced the absorption and merger of its wholly-owned subsidiary, Postal Huinong Bank, reflecting a broader trend in the banking industry towards digital transformation and integration of direct banks [1][2][3] Company Summary - The merger will result in the cancellation of Postal Huinong Bank's independent legal status, with all its business, assets, debts, and rights transferred to PSBC, ensuring that customer rights remain unaffected [1][2] - The merger is part of PSBC's strategy to optimize management and business structure, enhancing its digital banking capabilities and reducing operational costs [4][5][6] - Postal Huinong Bank, established in January 2022, faced challenges in maintaining its independent value due to the rise of mobile banking and increased competition in the financial services market [3][4][8] Industry Summary - The banking industry is witnessing a shift from "extensive channel expansion" to "refined ecological cultivation," indicating a new phase of deep integration in digital banking [1][2] - Over 20 banks have shut down or integrated their direct banking operations in recent years, highlighting the trend towards unified operations [2][3] - The digital transformation of banks is driven by the need for enhanced customer experience and operational efficiency, with a focus on integrating technology and data into business models [9][10] Financial Metrics - As of the end of 2024, Postal Huinong Bank reported total assets of 12.828 billion yuan, a loss of 415 million yuan, and a non-performing loan ratio of 6.66% [8] - PSBC's capital adequacy ratio stood at 14.57% and its core tier 1 capital adequacy ratio at 10.52% as of June 2025, reflecting a year-on-year improvement [11]