《大行報告》大和上調信行(00998.HK)目標價至4.4元 評級「跑贏大市」
大和發表評級報告指,信行(00998.HK)地方政府融資平台貸款餘額按年下降約10%,佔比降至貸款總額10%以下,而信行認為地方政府融資平台業務資產質量可控。
在資產方面,管理層表示大部分LPR下調對企業貸款的影響已經體現,並於今年首季將對6,000億元人民幣的抵押貸款進行重新定價;總體而言,在全行業下行趨勢中,信行提供今年控制淨息差下跌的指引。
該行將公司今年及明年撥備前利潤預測分別調整為降5%及升1%,並將信行在2023年至24年純利預測上調5%至16%,目標價由3.7元上調至4.4元,維持其評級為「跑贏大市」。(ca/u)
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