研報掘金丨國投證券:郵儲銀行業績進一步修復,予“買入-A”投資評級
國投證券研報指出,郵儲銀行(601658.SH)24年歸母淨利潤增速爲0.24%,業績進一步修復。2024年第四季度郵儲銀行歸母淨利潤增速爲0.43%,成本壓降是業績增長最大來源,貢獻44.54pct 正向業績增速;規模增長、非息收入也對業績增長形成支撐。稅收上升、撥備計提力度增強則對業績形成拖累。展望2025年,預計郵儲銀行在資產端將加大對新質生產力、普惠小微等重點領域支持力度,在零售方面緊抓政策機遇增大消費貸投放力度。與此同時,代理費率調整預計將對其盈利形成較強支撐,預計郵儲銀行業績將保持穩健。給予“買入-A”投資評級,6個月目標價6.31元。
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