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<Research> JPM: PSBC (01658.HK) 1Q26 Revenue and Pre-provision Profit Beat; Asset Quality Concerns Overhang
Recommend 17 Positive 26 Negative 16 |
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JPM said in a research report that PSBC (01658.HK) recorded YoY growth of 8% and 19% in revenue and pre-provision profit respectively in 1Q26, both above the brokers expectations. The upside was mainly driven by a positive surprise in NIM, stable fee income and lower agency fee rates. However, asset quality issues may weigh on market sentiment. Overall, the broker expects PSBCs share price reaction to be relatively muted or even negative, and to significantly Underperform major state-owned peers such as CCB (00939.HK), ABC (01288.HK) and ICBC (01398.HK). JPM maintained a Neutral rating on PSBC with a TP of HKD5.5. (hc/u) Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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