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高盛汇控(0005.HK)第二季收入将按年升5%或公布回购计划
格隆汇 07-30 09:29

高盛发表研究报告指,汇控(0005.HK)今年首季的净利息收入表现较预期差,管理层亦预料增长温和,该行估计会持平,并认为净息差将会受到香港银行同业拆息(Hibor)带来的正面影响,维持“买入”评级,目标价79港元。

高盛表示,市场预料集团今年下半年至2021年的整体收入将有3%至4%的增长。该行预计,汇控今年第二季收入将按年上升5%,而市场预期按年升2%。Hibor在季内回升,将有助30%的收入,而36%与财富管理及资本市场相关的收入则较为疲弱。

该行指,集团首季录得收入增长率高于支出增长率(Positive jaws)表现,收入增长率较支出增长率高出6个百分点,但集团认为投资回升,将导致今年下半年的成本增加,估计第二季的成本将会按季增长2%,但Positive jaws的情况将延续至第二季

高盛又指出,预料集团的资产质素将继续保持良好,而信贷成本将适度回升,又相信英国脱欧将成为下半年及往后时间的主要不确定因素。同时,该行预料集团将公布25亿美元的回购计划,但若果出现“硬脱欧”,有关计划或未能实现。

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