《大行报告》美银证券料汇控(00005.HK)第三季税前盈利18亿美元 评级「中性」
美银证券发表报告表示,汇丰控股(00005.HK)将於下周二(27日)公布今年第三季业绩,预期其税前盈利为17.8亿美元,而减值拨备料为23.3亿美元,但实际减值非常低,意味着管理层对更遥远的未来的看法属关键。汇控今年至今已减值拨备达68亿美元,相对於全年指引为80亿至130亿美元。季内净利息收入料为62.5亿美元。
该行认为,汇控要对欧美业务作进一步重组,才可填补因减息而带来的100亿美元收入缺口。该行指,汇控将进行削减较大风险加权资产、业务退出及国家重点调整,将减少在未能盈利的欧洲和美国的560亿美元股权投资,同时使12%的净资产收益率之亚洲业务带动30亿美元以上的可持续股息及营业额增长,重申其「中性」评级,目标价维持35.42元不变。
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