《大行报告》摩通:民行(01988.HK)末季业绩远逊预期 评级「减持」看4.6元
民生银行(01988.HK)上日(30日)公布去年业绩後,翌日(31日)股价现挫逾7%,摩根大通发表研究报告,指其去年末季净亏损30亿元人民币,远逊摩通预期,形容业绩令人十分失望。
报告称,受累非利息收入减少,民行末季经营收入按年收缩12%,拨备前盈利按年减15%;另逾期比率按半年续升,不良贷款覆盖降至139%,属摩通覆盖已公布末季业绩内银中最低。
此外,摩通称,留意到民行非信贷减值亏损急升。另报告称,民行普通股权资本充足率降至8.51%,而最低门槛是7.5%,系统性重要银行(DSIBs)最低门槛是8.5%。摩通称,民行或被视为系统性重要银行,资本压力或致可见将来派息比率被削减。摩通予民行「减持」评级,目标价4.6元。
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.