匯豐證券:維持中銀香港(2388.HK)“買入”評級 目標價31.8港元
中銀香港(2388.HK)新任總裁孫煜獲邀分享該行的策略和業務前景,其後匯豐證券發表研究報吿指,中銀香港的淨息差和資產質素將有短期壓力,但隨着今年資產質素壓力紓緩,明年盈利能力可望顯著提升,因此匯證維持中銀香港“買入”評級,目標價仍為31.8港元。
匯證指出,中銀香港母企中國銀行(3988.HK)是內地最為國際化的銀行,中銀香港在香港、東盟和大灣區三大市場均具商機。管埋層預期,今年貸款可錄單位數增長,由於港元及美元同業拆息走低,所以首季淨息差承壓,預計今年信貸成本穩定,不良貸款比率或會上升。
報吿提到,中銀香港去年派息率按年下跌0.9個百分點至49.6%,該行預計今年派息率維持於40-60%。
匯證認為,中銀香港的長期吸引力在於其內地與香港聯繫優勢、未來將受惠於加息和雄厚資本。

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