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野村:維持農業銀行(1288.HK)買入評級 目標價3.58港元

野村發表研究報吿指,農業銀行(1288.HK)去年業績表現稍高於預期,由於強勁的非利息收入,去年歸屬於普通股股東淨利潤為2270億元人民幣,按年增長10%,高於預期,意味着去年第四季度的淨利潤按年增長6%至480億元人民幣,維持其目標價3.58港元及“買入”評級。

野村表示,農行去年淨利息收入大致符合預期,淨資產按年增長10%至24150億元人民幣,高於預期,ROE(股本回報率)按年增長1.2個百分點至11.6%,高於預期,而淨息差按年下降8個基點至2.12%,高於預期,其資產質素改善亦高於預期,但營運成本表現則遜預期。

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