银河联昌:料招行(3968.HK)有望在零售贷款领域赢得更多市占率
银河联昌发表研究报告指,内地零售贷款市场增长潜力庞大,招商银行(3968.HK)是零售贷款市场的主要领导者,信用卡贷款佔其上半年贷款规模13.4%,预料将有望在利润丰厚的零售贷款领域赢得更多的市占率,而规模较小的同业,该类贷款增长将放缓。
银河联昌表示,尽管受到疫情影响,零售信贷市场仍具有可观的增长潜力,与全球同业相比,中国的普及率仍然较低。截至去年底,中国包括按揭在内的消费者债务约占整体经济的55%,而全球平均水平为65%。
该行指,近年来中国零售贷款市场迅速增长,主要由中小银行借助,包括蚂蚁在内的助贷机构推动,但监管的约束将导致小型银行零售贷款增长放缓,又指中小型银行的资本水平相对较低,而且在低利率环境下更脆弱。
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