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大行評級|星展:上調中信銀行目標價至5.1港元 維持“買入”評級

星展的研究報吿指,中信銀行上半年純利按年跌1.6%至355億元,符合預期,而收入及撥備前利潤分別按年升2.7%及1.4%,不良貸款率按半年升1個基數至1.19%,風險組合穩定。該行料,公司在2023年至2026年的盈利複合年均增長率為6%,認為淨息差會在今年下半年至明年受壓,但走勢會較同業好,料中信銀行明年及2026年的盈利會因為企業貸款需求平穩增長及其零售貸款逐步復甦、費用收入增長按年7.5%,以及較低的不良貸款率及信用成本而增長。

星展維持對公司今年至2026年盈利預測大致不變,目標價由4.9港元升至5.1港元,維持“買入”評級,指該股今年的股息收益率為8.4%,較同行高。

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