《大行報告》花旗微升中銀(02388.HK)目標價至23.3元 料上季PPOP按年跌22%
花旗發表報告表示,今年第三季一個月香港銀行同業拆息(HIBOR)及倫敦銀行同業拆款利率(LIBOR)分別下跌67點子及20點子,故預期在低息環境、資產利潤率受壓,以及較低利潤的新股相關貸款增加等因素影響下,料中銀香港(02388.HK)第三季淨息差下跌約20點子,凈利息收入按季及按年下跌15%及28%,至80億元;至於季內撥備前利潤(PPOP)按年及按季下跌22%及25%至85.08億元。
考慮凈利息收入下滑被交易收入增加及撥備減少所抵銷,花旗輕微上調中銀2020至2023年度盈利預測不足1%,目標價由23.2元微升至23.3元,維持「中性」評級,主因利息前景顯著轉差。
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