Postal Savings Bank of China (OTCMKTS:PSTVY) Trading 11.6% Higher – Should You Buy?

Postal Savings Bank of China Co., Ltd. (OTCMKTS:PSTVY)’s share price was up 11.6% during mid-day trading on Friday . The company traded as high as $12.95 and last traded at $12.7650. Approximately 373 shares were traded during mid-day trading, a decline of 27% from the average daily volume of 514 shares. The stock had previously closed at $11.44.

Postal Savings Bank of China Trading Up 11.6%

The business’s fifty day simple moving average is $13.17 and its 200 day simple moving average is $13.78.

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.