<div id="readability-page-1"><div><p>PSBC (01658.HK)<span> </span><span> -0.200 (-3.817%)  </span> <span> Short selling $79.80M; Ratio 28.698%  </span>  closed at HKD5.04 at midday today (30th), down 3.82%, with 54.55 million shares traded, involving HKD278 million.</p><p>Citi said in a research report that PSBCs pre-provision operating profit in 1Q26 rose 19% YoY, the highest among large banks, mainly benefiting from NIM recovery, strong growth in fee income, and an improved cost-to-income ratio driven by the agency fee rate cut effective from January this year. However, impairment losses surged 65.2% YoY during the period, resulting in weaker net profit growth than peers. Net profit only increased 1.9% YoY to RMB25.7 billion, representing just 29% of the markets full-year forecast.</p><p>The broker noted that although PSBC recorded strong growth in pre-provision operating profit, elevated credit costs dragged its earnings growth to the slowest among the six major banks. Given ongoing asset quality pressure and the banks provision-to-total loans ratio having fallen to a trough of 2.2%, future earnings growth is expected to remain under pressure, with limited room to release excess provisions. Nevertheless, the broker was encouraged by the banks NIM expansion in 1Q26 and said its valuation has reflected expectations of slower growth. Citi maintained its Buy rating on PSBC, with a TP of HKD6.42 for its H shares. (ad/da)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-04-30 12:25.)</p></div><p>This article was automatically translated by AI, the Chinese 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.</p></div>

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<p>PSBCshares fell 3.82% to HKD5.04 at midday on April 30, with a trading volume of 54.55 million shares. Citi's report indicated that while PSBC's pre-provision operating profit rose 19% YoY in 1Q26, net profit growth was only 1.9% YoY due to a 65.2% increase in impairment losses. The bank's earnings growth is expected to remain under pressure, but Citi maintains a Buy rating with a target price of HKD6.42, citing NIM expansion as a positive factor.</p>

PSBC Falls 3.8% at Midday; Citi Says 1Q26 Profit Growth Lags Peers