《大行报告》大摩:内地个人收入增长正面 利率正常化下 可降内银利润压力
摩根士丹利发表报告表示,人民银行及网联的支付数据回升,可能表明内地商业活动的反弹要比官方数据强,尤其是那些没有被官方捕获的新销售渠道数据。再加上收入增长的反弹和家庭财富创造强劲,应料可为中国金融行业提供支持。
据人民银行报告今年第三季度,内地银行卡消费支付金额为30.82万亿元人民币,按年增长4%,该行认为在持续增长的情况下,到第三季度末增长可能会更高。
该行指,基於内地消费复苏,料可支持今年第三季个人财富按年升6.9%(对比第二季升4.5%),今年至今的增长率约4%,该行预计全年增长率将高於名义GDP增长。另一方面,家庭第三季度存款保持强劲,按年增长约13.5%。
大摩认为,上述情况将确保内地货币政策、利率环境将进一步正常化,将降低严控内银利润增长的压力,该行认为从事零售和财富管理业务的内银如兴业银行(601166.SH),平安银行(000001.SZ)和招行(03968.HK)等重点银行将从中受益最大。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.