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《大行報告》大和上調郵儲行(01658.HK)目標價至7元 評級「買入」
阿思達克 11-01 11:18
大和發表報告,指郵儲銀行(01658.HK)今年第三季收入增長強勁、資產質素指標改善,業績好過預期,將郵儲銀行今年至2023年淨利潤預測上調5%至6%,重申「買入」評級,目標價由6.7元上調至7元。該行指,在眾多內銀股當中,郵儲行為其首選股之一。 大和表示,即使內銀在信貸需求疲弱及利率下行下受壓,郵儲銀行首三季淨息差仍有2.37%的強勁水平,整體資產收益率也穩定,管理層預計今年第四季淨息差水平穩定。該行又認為,財富管理業務繼續促進費用收入上升。雖然第三季屬淡季及經濟環境影響,但由於長期分期產品銷售增加,來自保險代理的淨佣金收入仍錄得88%按年升幅。管理層預計今年淨手續費用收入按年增加超過20%,該行繼續使用其廣泛的分行網絡,舉辦投資者教育活動,目標在明年底前客戶數目達2,000萬。 大和指,郵儲銀行金融科技投資取得成果,年初至今95%的「三農」新取用貸款是透過網上渠道授出,該行又將財富管理和金融科技融合,目前財富管理產品和互惠基金的約94%銷售是透過其應用程式進行。
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