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《大行報告》美銀證券:中行(03988.HK)首季核心純利增長強勁 股息率高
美銀證券發表報告指,中國銀行(03988.HK)首季淨利潤按年升0.5%至577億元人民幣,報告估算其核心純利按年增長9%,屬內地大型銀行中最佳,並佔美銀證券對其全年估算的27%。截至今年首季,中行普通股權一級資本比率按季下降至11.6%,股本回報率按年降0.8個百分點至10.7%。鑑於中行的高股息率和強勁的核心盈利增長,報告維持予「買入」評級,目標價4.02元及盈測同樣不變。 報告稱,中行淨息差在今年第一季小幅下降1個基點至1.7%,系內中銀香港(02388.HK)淨息差下降15個基點。根據據管理層指引,首季境內外匯業務淨息差擴大並支持集團層面淨息差。淨利息收入按季降0.3%,總利息收入及支出分別增長5%和10.2%。貸款按季增長5.9%,按年增長12.5%,高於2022年的11.7%。國內人民幣貸款按季增長6.2%,按年增長13.5%。國內人民幣存款按季增長9.4%,按年增長15.4%。
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