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摩通:料招行(3968.HK)郵儲行(1658.HK)最受惠財政部新規
格隆匯 09-27 11:45
財政部昨日公佈《金融企業財務規則》進行修訂,防止金融企業利用準備金調節利潤。
摩根大通發表報告指,有關修訂對招商銀行(3968.HK) 及郵儲行(1658.HK) 盈利增長前景有利,由於招行撥備水平高,不良貸款撥備覆蓋率高達394%,遠高於150%之規定。相信即使招行來自收入方面的盈利能力減弱,仍可透過釋放撥備以維持雙位數盈利增長,指郵儲行亦如招行一樣。
相反有關規定則對民生銀行(1988.HK) 及華夏銀行負面,重農行(3618.HK) 因資產質素欠佳亦有負面影響,相信現時未能放撥備。
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