《大行報告》高盛:渣打(02888.HK)次季基本稅前盈利勝預期 料股價反應正面
高盛發表研報指,渣打集團(02888.HK)第二季度撇除債務價值調整的基本稅前盈利達到9.34億美元,大幅高於該行及市場預期,按季增幅達2%。收入增長主要由於佔收入20%的金融市場部門業績改善,按年增長50%,預計渣打第二季業績勝預期,對股價會有正面積極作用。
該行指,渣打集團第二季度淨息差按季減少24個基點至1.28%,淨利息收入亦按年跌13%,反映央行降息的影響。上半年成本支出低於預期約2%,管理層目標是在於今明兩年將成本控制在100億美元之內(未包括英國銀行稅),亦預合該行預期。信貸質量方面,管理層未有透露2020財年信貸成本的目標,但預計下半年減值水平會較上半年低。
高盛維持對渣打的「買入」評級及目標價57元,指出該行上半年有形股本回報(ROTE)為6%,但現價僅相當預測市帳率0.4倍,相信預期隨著經濟回暖,渣打將更具吸引力。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.