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Introduction of Consumer Credit

Date: 2016-03-21

 

Since the inception of consumer credit business in 2008, PSBC has forged the consumer credit product lineup centering on “housing”, “quota” and “automotive”,highlighting the innovative cooperation loan, in order to meet the rigid demand of housing, support the social security housing program and actively practice the mission of inclusive finance. In this way, PSBC has extended the consumer credit services  from housing,auto to travel, education, culture and information consumption, promoed the construction of both online and offline channels, launched  online loan and card-based loan, and optimized the business flow to improve the customer experience. In the meantime, PSBC also practiced the GreenCredit, explored and granted environmental-protection consumer loans in Jiangxi, Anhui, Sichuan, Zhejiang and other regions, thereby boosting the upgrade of consumption and the reform of the supply side based on the innovation in products and services.

As at the end of 2015, PSBC recorded the consumer credit balance of RMB732.4 billion, with a compound growth rate of 100% over the past three years, well above the average level of peers. The non-performing loans ratio was 0.18%, well below the average level of peers.