Gelonghui, May 6 | Cathay Pacific Junan Research Report indicates that the performance of the 2024 quarterly report of the Postbank (1658.HK) was in line with expectations. The performance was relatively stable, credit maintained double-digit growth, the debt base was consolidated, and the holding increase rating was maintained. Q1 revenue increased 1.4% year over year, and the Postbank was the only state-owned bank to achieve positive revenue growth. The net interest spread (estimate) for the Q1 quarter narrowed by 10 bps year on year, but credit maintained a high growth rate. Net interest income increased 3.1% year on year under quantitative compensation, and other non-interest net income increased 16.7% year on year, which together boosted revenue performance.