大行評級|美銀:中行第三季較弱淨息差被更強交易收益抵銷 維持“買入”評級
美銀證券發表研究報吿指,中國銀行首三季純利按年增0.5%,增幅與同行相近;核心盈利按年跌2.5%,達到美銀全年預測的79%;總股本回報率(ROE)按年跌0.8個百分點。至於第三季的普通股權一級資本比率(CET1)則按季上升20個基點至12.23%。該行維持對中行的盈測不變,續予“買入”評級,目標價4.15港元。美銀提到,中行第三季的淨息差趨勢較大部分同行疲弱,按季跌7個基點至1.41%,惟被更強的交易收益所抵銷。期內,貸款按季增1.4%,按年則增8.5%;資產及存款按季分別增0.5%和0.3%,按年則升7.3%及4.5%。手續費收入跌幅由上半年的按年跌7.6%收窄至首九個月的3.9%。其他非利息收入於第三季按急升121%,按季升36%,帶動季度總收入上升。
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