研報掘金丨申萬宏源:維持中信銀行“買入”評級,24年息差穩、分紅提升
申萬宏源研究指出,中信銀行(601998.SH)2024年息差穩、營收穩、利潤提速、分紅提升,逐步彰顯出優質高股息屬性。展望2025年,認爲中信銀行在資產質量更紮實、業務結構調整基本到位的基礎上,預計營收、利潤有望實現橫向優於同業、縱向強於自身的向好趨勢,維持“買入”評級。基於審慎考慮下調2025-2026年盈利增速預測,上調信用成本,新增2027年預測,預計2025-2027年歸母淨利潤增速分別爲4.2%、5.3%、5.8%(原預測2025、2026年分別7.7%、9.0%),當前股價對應2025年PB爲0.55倍,維持“買入”評級。
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