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《大行報告》花旗:中銀香港(02388.HK)首季淨息差受壓 信貸成本良好
花旗發表報告指,中銀香港(02388.HK)首季經營溢利按年升23%至111億元,達致市場對其全年預期的26%;其首季收入按年升12%,惟淨息差承壓,主要是調整後淨利息收益率收窄15個基點至1.5%,而營運開支按年升7%,信貸成本良好,按年跌16個基點,資產質素保持韌性,主要是不良貸款率按季改善了3個基點至0.5%。 該行指,在一個相對疲軟的季度中,中銀香港淨利息收益率大幅收縮,惟預料淨利息收益率未來將持續復甦,主要是HIBOR和LIBOR的差距縮小,高成本的存款下降以及在利率較高下,美元資產重新定價。 花旗予中銀香港目標價27.3元,評級「買入」。
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