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《大行報告》摩通:匯控上季淨利息收入強勁 但上調空間有限 維持「中性」評級
阿思達克 10-25 14:14
摩通發表報告指,匯控第三季業績表現強勁,淨利息收益比公司共識高出5%,但由於外匯因素,2023財年淨利息收益指引被更新為至少360億美元,而之前為370億美元以上。 匯控稱2023財年的減值將處於30至40個基點正常化範圍的高端,摩通指,有關指引與目前預測一致,並認為市場預測變化有限,料外匯對淨利息收入的影響將被成本控制抵銷。 報告指,匯控管理層面臨著分拆亞洲或部分業務、增加股息的壓力。由於目前普通股權一級資本比率為13.4%,仍低於至明年上半年14至14.5%的目標範圍,摩通認為,除非管理層進一步出售資產,如加拿大業務,否則增加資本回報的空間有限。該行對英國倫敦上市的匯控維持「中性」評級,目標價590便士,較偏好渣打。
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