Postal Savings Bank of China (OTCMKTS:PSTVY) Trading Up 10.6% – Here’s What Happened

Postal Savings Bank of China Co., Ltd. (OTCMKTS:PSTVY) shares were up 10.6% on Wednesday . The stock traded as high as $13.0550 and last traded at $13.0550. Approximately 699 shares changed hands during mid-day trading, an increase of 39% from the average daily volume of 504 shares. The stock had previously closed at $11.80.

Postal Savings Bank of China Stock Up 10.6%

The company’s 50 day moving average price is $12.36 and its two-hundred day moving average price is $13.37.

About Postal Savings Bank of China

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.