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01658 PSBC
RTNominal up6.180 +0.390 (+6.736%)

29/11/2019 17:46

{I-bank focus}Daiwa ups PSBC (01658) to HK$5.7; "outperform"

[ET Net News Agency, 29 November 2019] Daiwa Research lifted its target price for
Postal Savings Bank of China (PSBC)(01658) to HK$5.7 from HK$5.3 and maintained its
"outperform" rating.
The research house expects PSBC's average loan yield to contract and deposit cost to
pick up in 2020-21 along with the industry trends, but Daiwa anticipates it to record
strong loan growth, thereby utilising a higher loan-to-deposit ratio (LDR) to more than
offset these negative impacts.
It expects PSBC's net interest income to grow by 6-7% in 2020-21. Daiwa sees the strong
growth momentum of its net fee income likely sustaining in 2020, led by a low base and
rapid growth in its bank-card, ebanking and investment banking businesses. (KL)

Remark: Real time quote last updated: 03/03/2021 17:59
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