《大行報告》花旗:港銀股首季貸款增長改善 籲買中銀香港(02388.HK)
花旗發表報告指,香港銀行今年首季業績可見令人鼓舞的早期跡象,顯示收入前景有所改善,貸款增長亦較預期為佳。至於手續費收入優於該行的正面預期,主要是受惠於破紀錄的財富管理收入。
該行表示,雖然匯控(00005.HK)及渣打(02888.HK)的淨息差正趨穩定,但本港銀行的淨息差仍然受壓,而資產質素則明顯超出預期,其中匯控錄得主要來自英國投資組合的信貸損失撥回。
花旗預期,港銀首季業績後市場對行業的收入前景預測會有溫和上調,估計銀行收入會有逐步改善,淨息差接近見底且貸款增長回升,未來潛在催化劑為邊境重開及提高派息比率。
行業中,花旗籲買中銀香港(02388.HK),目標價32.7元,其餘選股依次為匯控、渣打及恆生銀行(00011.HK),三者評級均為「中性」,目標價分別49.3元、61.4元及160元。
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