Research Report Nuggets丨SDIC Securities: Postbank's Q1 personal microfinance loans achieved relatively rapid growth, giving it a “buy-A” rating

According to the China Investment Securities Research Report, the net profit of the Postbank (601658.SH) in the first quarter grew at a year-on-year rate of -1.35%, and operating income achieved positive year-on-year growth, leading other major state-owned banks. Looking ahead to 2024, the cost to revenue ratio of the Postbank may remain high, and interest spreads are still under pressure. With a buy-A investment rating, the target price for 6 months is 5.98 yuan, which is equivalent to 0.7 XPB in 2024. The Postbank continued to increase credit investment in key areas of rural revitalization in the first quarter, and personal microloans achieved relatively rapid growth. As of the end of the first quarter of 2024, Postbank's agricultural loan balance was $2.33 trillion

Gelonghui Finance03:54 ET

Ping An Securities: The fundamentals of the banking sector are marginal and stable, and we continue to pay attention to dividend allocation values

The average dividend rate in the banking sector for the past 12 months is at a historically high premium level compared to risk-free interest rates measured by 10-year treasury bond yields, and continues to expand, and dividend attractiveness continues to increase.

Zhitong Finance23:39 ET

[Broker Focus] Cathay Pacific Junan Maintains Postbank's (01658) “Increase in Holdings” Rating; the Company's Revenue Is More Resilient

Jinwu Financial News | Guotai Junan Securities released a research report showing that the revenue of the Postbank (01658) increased 1.4% year-on-year in the first quarter of 2024, making it the only state-owned bank to achieve positive revenue growth. The company's credit maintained a high growth rate in the first quarter. Net interest income increased 3.1% year on year under volume compensation, and other non-interest net income increased 16.7% year on year, which together boosted revenue performance. Affected by the “integration of reporting and banking” policy, agency insurance business revenue declined, leading to an 18.2% year-on-year decrease in net revenue from handling fees and commissions, which dragged down revenue growth. Operating and management expenses increased 7.61% year over year, leading to negative profits

金吾財訊May 6 01:19 ET

Bank stocks rose collectively, Postbank (01658) rose 3.43%, and many state-owned banks disclosed mid-term dividend arrangements

Jinwu Financial News | Bank stocks rose collectively. Bank of Zhengzhou (06196) rose 3.95%, Postbank (01658) rose 3.43%, China Everbright Bank (06818) rose 3.36%, China Merchants Bank (03968) rose 3.23%, Agricultural Bank (01288) rose 2.35%, and Minsheng Bank (01988) rose 2.14%. Minsheng Securities said that several state-owned banks disclosed their mid-term dividend arrangements. On the evening of April 29, ICBC, Agricultural Bank, Bank of China Construction Bank, and Bank of Communications all disclosed the relevant arrangements for the 2024 interim profit distribution. concrete

金吾財訊May 2 21:57 ET

“King of Outlets” Postbank Quarterly Report: Revenue increased 1.44% year over year, net profit fell slightly

The deposit interest rate for the first quarter decreased by 5 basis points compared to the end of the previous year

wallstreetcnApr 29 11:29 ET

Postbank (01658) plans to renew Deloitte Huayong as the 2024 accounting firm

Postbank (01658) issued an announcement. The bank's board of directors agreed to renew Deloitte Huayong Certified Public Accountants (Special General Agreement...

Zhitong FinanceApr 29 06:05 ET