美银证券:中国银行(3988.HK)去年纯利胜预期 升目标价至3.85港元
美银证券发表研究报告指,中国银行(3988.HK)去年纯利按年增长2.9%至1929亿元人民币,好过该行预期6%,并胜市场预期13%。拨备前盈利按年升3.8%,符合该行预期。美银将中行目标价由3.7港元升至3.85港元,评级维持买入,而A股目标价则为3.6元人民币,评级为中性。
美银表示,中行去年净息差1.85%,按年跌4个基点;净利息收入升6.6%;贷款按季跌0.6%,按年就升8.8%,而国内企业贷款和零售贷款分别按年升11.5%和11.9%,而境外贷款就跌1.8%。存款就按年增长6.7%,按季跌2.9%。贷存比率升1.6个百分点至84%。
美银指,中行去年资产质量和拨款覆盖率稳定,不良贷款率按季跌2基点至1.46%。此外,该行将中行今、明年的盈利预测提高了5%。

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.