《大行報告》瑞銀普遍下調內銀股目標價 降中行、交行及信行評級
瑞銀發表報告指,因新型肺炎疫情在全球擴散,及該行將中國今年經濟增長下調至1.5%,預期內地銀行業在未來數年的不良貸款將由2萬億元人民幣,大幅上升至5.8萬億元人民幣。而內銀於今年底的不良貸款率及特別關注類貸款率(SML),料將分別由1.9%及2.9%,上升至3%及5.6%。
該行認為,在政策刺激、市場流動性豐富及有不良貸款承受能力的情況下,內銀行業今年盈利所受的影響料較溫和。
該行普遍下調內銀股目標價,並下調對中國銀行(03988.HK)股份評級,由「買入」降至「中性」,以反映其在淨息差方面有進一步壓力,及在海外市場面對挑戰。而交通銀行(03328.HK)及中信銀行(00998.HK)評級更由「中性」降至「沽售」。
瑞銀又下調行業今明兩年純利預測分別7%及8%,並預期四大內銀股今年純利將微增0.2%,股份制銀行則下降1.7%。
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