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大行評級|摩根大通:金管局擴大放寬按揭成數生效期對惠理、港銀及中資券商正面

摩根大通發表研究報吿指,中證監優化兩地基金互認安排及本港金管局擴大放寬按揭成數生效期,相信對惠理集團、港銀和中資券商來説將越趨正面。

摩通表示,互認協議中,惠理集團和恒生銀行旗下恒生投資管理將直接受惠於靈活性提高帶來的轄下資產管理規模增長,而中資券商和港銀可以隨着流入香港市場的投資資金流不斷增加,也間接受惠於更好的收入或費用;中金公司和華泰的離岸市場盈利貢獻較高,恒生銀行和中銀香港的資產管理和經紀業務收入佔比較高。

另一方面,較高的貸款價值比應有助於緩解近年來面臨房價下跌的抵押貸款申請人的首付壓力,併為抵押貸款增長提供額外的催化劑。就貸款組合而言,恒生銀行和大新銀行集團在貸款組合中,抵押貸款敞口相對更大。

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