PSBC’s Revenue Growth Continued to Slow, While Fundamentals Largely Intact
No-moat Postal Savings Bank of China’s, or PSBC’s, first-quarter results reflected slowing growth momentum continued in the past quarter. The results were roughly in line with first-quarter net profit contributing 35% of our estimated full-year profits, or 6% year-on-year growth in 2019. Net profit growth rebounded to 12% from 9.8% in 2018. While the pickup in net profit growth was primarily helped by lower credit costs compared with 2018, total revenue growth also slowed to 8% from 16% in 2018....
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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