Shenwan Hongyuan believes that postal savings bank, with strong performance growth, first tier dividend level and healthy asset quality, is a very scarce high-quality target among domestic listed banks.
Guosheng securities analysis said that the postal savings bank has a solid network, deposits, customer base, and has a good growth in large state-owned banks. Looking forward to the future, with the unique postal bank cooperation system, there is a large space for its asset business and intermediary business. After the completion of this A-share IPO, it can effectively supplement the core tier one capital of postal savings bank, improve the capital adequacy ratio, and open up space for future business expansion.
The new high winning rate of postal savings bank should not overestimate the effect of green shoes plate protection
Recently, the postal savings bank has applied for online and offline purchases. The issuance results show that the online issuance winning rate is 1.26% (including the over allotment part), which is the highest since the implementation of the subscription system in 2016. Investors are generally concerned about whether the postal savings bank in green shoes can keep the issuing price after listing. The author believes that the green shoe mechanism is not infallible, and should not overestimate its impact.