Postal Savings Bank of China's 1Q Results Saw Strong Growth Momentum Continued
With a 20.6% growth in revenue and 19.8% growth in net profits, no-moat Postal Savings Bank of China’s first quarter continued to post the strongest growth momentum among listed Chinese banks. The results are in line with our expectation, with first-quarter net profits reaching CNY 16.5 billion, which contributed 29% of our forecast full-year net profit of CNY 57.9 billion. Core revenue growth, including net interest income and fee income further accelerated from 2017, increasing 27% and 14% fro...
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