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《大行报告》瑞信升招行(03968.HK)目标价至73元 去年业绩表现领先同业
阿思达克 03-22 14:32
瑞信发表研究报告指,在去年市况不稳定下,招行(03968.HK)仍保持平稳的增长,受惠於手续费收入增长11.2%,令期内收入按年升7.2%。纯利增长4.9%,料业绩表现可继续领先同业。

报告指出,去年拨备前利润按年升4.5%,稍逊瑞信预期,主要因成本收入比率较高,但部分被资产质量所抵消。期内逾期放款比率为1.07%,是自2013年以来低位,客户存款总额按年升16%,反映企业客户需求增长。

瑞信认为,招行的科技及零售业务优势继续加强,考虑到其业务稳定及质量高,维持「跑赢大市」评级,目标价由68元升至73元。

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