《大行报告》花旗:港银股首季贷款增长改善 吁买中银香港(02388.HK)
花旗发表报告指,香港银行今年首季业绩可见令人鼓舞的早期迹象,显示收入前景有所改善,贷款增长亦较预期为佳。至於手续费收入优於该行的正面预期,主要是受惠於破纪录的财富管理收入。
该行表示,虽然汇控(00005.HK)及渣打(02888.HK)的净息差正趋稳定,但本港银行的净息差仍然受压,而资产质素则明显超出预期,其中汇控录得主要来自英国投资组合的信贷损失拨回。
花旗预期,港银首季业绩後市场对行业的收入前景预测会有温和上调,估计银行收入会有逐步改善,净息差接近见底且贷款增长回升,未来潜在催化剂为边境重开及提高派息比率。
行业中,花旗吁买中银香港(02388.HK),目标价32.7元,其余选股依次为汇控、渣打及恒生银行(00011.HK),三者评级均为「中性」,目标价分别49.3元、61.4元及160元。
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