研報掘金丨光大證券:維持興業銀行“增持”評級 中間業務收入增長空間可期
光大證券研報指出,興業銀行(601166.SH)營收增長穩健,撥備計提拖累業績增速。公司前三季度營收、撥備前利潤、歸母淨利潤同比增速分別為1.8%、3.7%、-3%,增速較1H24 分別變動0、0、-3.9pct。從邊際變化看,提振因素主要是非息收入增速由負轉正;拖累因素主要是息差收窄、損失準備計提對業績負向拖累加大,規模擴張拉動作用減弱、所得税貢獻由正轉負。公司資產端信貸投放保持穩定,負債成本管控成效顯著使得息差維持較強韌性,同時財富管理、投行業務雙向發力,中間業務收入增長空間可期。維持“增持”評級。
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