UBS: Neutral rating for Postal Savings Bank of China (01658.HK) with a target price of 4.5 Hong Kong dollars.

According to the Zhitong Finance APP, UBS released a research report stating that Postal Savings Bank of China (01658.HK) saw a year-on-year decrease of 2.6% in net profit after tax for the first quarter of the 2025 fiscal year, falling behind the four major banks, mainly due to a significant rebound in provision expenses; pre-provision operating profit increased by 6.2% year-on-year, roughly in line with UBS's forecast. UBS estimates that Postal Savings Bank's credit costs for the first quarter may rise to 47 basis points. UBS predicts that the market's reaction to Postal Savings Bank's first quarter performance is neutral and sets its H-share target price at HK$4.5, giving it a "neutral" rating.