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摩通:對匯控(0005.HK)收入增長展望仍審慎 維持“減持”評級
格隆匯 02-11 15:23
摩根大通發表報告指,匯豐控股(0005.HK) 因低利率、撥備增加,及主要增長來源中港經濟活動放緩的因素影響下,面臨更高盈利風險。於現時環境下,匯控進行業務重組將拖累其股本回報率,即使產生額外資本金,亦不足以解除結構性挑戰,即收入基礎收窄同時須維持高派息率,管理層亦面臨更高管治風險,相信業務重組在2022年前亦未會為匯控進賬。該行維持匯控評級“ 減持 ”,認為其對利率環境敏感,對匯控收入增長續持審慎看法。

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