SEHK:1658Banks
Postal Savings Bank Of China (SEHK:1658) Stock Faces NPL Creep Despite Solid Profits
Postal Savings Bank of China stock went into the Q2 release trading around HK$4.96 after a flat week and a softer three month run. The immediate share price reaction will grab headlines. The more important story sits in the earnings power backing that price.
Q2 net income of ¥21,997m kept the profit engine humming and the trailing 12 month net profit margin of 26.4% stayed solid for a large retail focused lender. With the stock still on roughly a 6x P/E, the key question for long term holders...