Postal Savings Bank of China Co., Ltd. Class H (HK:1658) has released an update.
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The Postal Savings Bank of China has updated the fee structure for its deposit agency fees with China Post Group, adjusting the rates for different types of deposits such as demand deposits and time deposits. This adjustment follows an agreement to set a cap on composite rates for deposit agency fees and is part of ongoing connected transactions between the bank and China Post Group. The adjustments are in accordance with their ‘Fixed Rate, Scaled Fees Based on Deposit Type’ principle, reflecting a range of fees from 2.33% for demand deposits to zero for 5-year time deposits.
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