《大行报告》摩通:四大内银次季总体业绩令人失望 中行(03988.HK)表现最佳
摩根大通发表报告表示,四大内银今年第二季纯利按年下滑25%,大致符合预期,但无论如何,综合总体业绩令人失望,第二季拨备前利增长较首季放缓,手续费增长走弱及净息差受压;资产质素则好坏参半,四大内银不良贷款比率持续上升,但拖欠贷款有所下滑。
该行指在四大内银中,中国银行(03988.HK)季绩属最佳,今年第二季若撇除一次性商品产品亏损因素後,季内拨备前利润按年升10%。内地四大内银第二季拨备前利润按年升3%,较首季增幅6%有所收窄,主要受净息差收窄影响(按年收窄5个基点及按季收窄10个基点)。
摩通指,中行第二季息差按季扩阔4个基点,表现在同业中稳固;但工行(01398.HK)次季净息差按季收窄14个基点令人失望,建行(00939.HK)次季净息差按季收窄10个基点、农行(01288.HK)按季可比计收窄1个基点。
该行表示,四大内银资产质素则好坏参半,农行(01288.HK)不良率升3个基点、中行升2个基点、工行及建行按季升7个基点,而农行、建行及工行均进取地增加不良贷款拨备确认。
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