Postal Savings Bank of China (OTCMKTS:PSTVY) Trading Down 4.8% – What’s Next?

Postal Savings Bank of China Co., Ltd. (OTCMKTS:PSTVY)’s share price dropped 4.8% during trading on Thursday . The company traded as low as $13.00 and last traded at $13.00. Approximately 1,600 shares changed hands during mid-day trading, an increase of 161% from the average daily volume of 614 shares. The stock had previously closed at $13.6550.

Postal Savings Bank of China Stock Performance

The stock has a fifty day moving average price of $13.78 and a 200-day moving average price of $14.00.

Postal Savings Bank of China Company Profile

Postal Savings Bank of China (OTCMKTS: PSTVY) is a state-owned commercial bank established in 2007 as part of China Post Group’s initiative to modernize and expand public savings services. Headquartered in Beijing, the bank was formed by transforming the Postal Savings Administration into a nationwide banking institution. Since its inception, Postal Savings Bank of China has grown to become one of the country’s largest retail lenders, leveraging China’s extensive postal network to reach urban and rural customers alike.

The bank’s core business activities include offering a full range of deposit products, consumer and business loans, micro-finance services, and agro-related credit for underserved rural regions.