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《大行报告》高盛:渣打(02888.HK)次季基本税前盈利胜预期 料股价反应正面
阿思达克 07-30 14:31
高盛发表研报指,渣打集团(02888.HK)第二季度撇除债务价值调整的基本税前盈利达到9.34亿美元,大幅高於该行及市场预期,按季增幅达2%。收入增长主要由於占收入20%的金融市场部门业绩改善,按年增长50%,预计渣打第二季业绩胜预期,对股价会有正面积极作用。

该行指,渣打集团第二季度净息差按季减少24个基点至1.28%,净利息收入亦按年跌13%,反映央行降息的影响。上半年成本支出低於预期约2%,管理层目标是在於今明两年将成本控制在100亿美元之内(未包括英国银行税),亦预合该行预期。信贷质量方面,管理层未有透露2020财年信贷成本的目标,但预计下半年减值水平会较上半年低。

高盛维持对渣打的「买入」评级及目标价57元,指出该行上半年有形股本回报(ROTE)为6%,但现价仅相当预测市帐率0.4倍,相信预期随着经济回暖,渣打将更具吸引力。

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