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01658 PSBC
RTNominal up4.040 +0.050 (+1.253%)

03/09/2020 16:48

{I-bank focus}DBS lowers PSBC (01658) to HK$5.02; "buy"

[ET Net News Agency, 3 September 2020] DBS Group Research lowered its target price for
Postal Savings Bank of China (PSBC)(01658) to HK$5.02 from HK$6.07 and maintained its
"buy" rating.
With its large retail client base of 600m, the research house expects PSBC to enjoy good
earnings momentum from increasing wallet share. DBS also expects PSBC to resume earnings
growth to high-single digits in FY2022, helped by strong loan growth from higher LDR
(loan-to-deposit ratio), and robust fee income momentum.
DBS expects PSBC's earnings to decline by 9% in FY2020 and gradually recover in
FY2021/22 by +3%/+9%. (KL)

Remark: Real time quote last updated: 23/10/2020 17:59
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