高盛:匯控(0005.HK)季績符預期惟資本表現遜預期,目標68港元
格隆匯4月27日丨高盛發研報表示,匯控(0005.HK)首季整體業績符預期,期內經調整税前利潤47億美元,高於該行及市場預期,撥備前利潤符合預期,而信貸成本較預期為低,營業利潤亦高於預期。不過,其普通股權一級資本比率(CET1)跌至14.1%,遜於該行及市場預期,匯控並預期今年無法進一步回購。該行維持匯控“買入”評級,予目標價68港元。
該行表示,匯控首季收入按季增加4%,但按年減少3%,雖然財富管理及個人銀行業務收入按年下降6%,但商業銀行收入因利潤率提高而增長9%。受債務市場活動疲軟的影響,環球銀行及資本市場業務收入按年下降4%,管理層繼續指引今年收入錄中單位增長。

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