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《大行報告》大摩:內地社融增速加快 料可支持內銀股核心盈利趨勢
阿思達克 10-16 15:12
摩根士丹利發表研究報告,指9月份內地社融增速加快至13.5%,主要由政府發行債券、長期企業債,以及家庭信貸增加所帶動,相信可支持銀行核心業務的股本回報,但如果信貸趨勢持續,銀行將面對收緊貸款額,和相關收緊政策的風險。

該行指,內地社融增速加快將可支持銀行核心盈利趨勢,並相信強勁貸款增長是由按揭和基建需求帶動,但同時指需留意因資產價格過熱,和經濟風險會帶來政策轉變,以及銀行置換低息債至高息債,是第四季收緊信貸額度的訊號,同時部份銀行資本比率低,高信貸增長,將影響明年的信貸資源。

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