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研報掘金丨申萬宏源:光大銀行業績穩健正增,維持“買入”評級
格隆匯 03-31 15:58

申萬宏源研究指出,光大銀行(601818.SH)24年實現歸母淨利潤417億元,同比增長2.2%。4Q24不良率季度環比持平於1.25%,撥備覆蓋率季度環比提升10pct 至181%。與債市投資相關的非息收入高增帶動營收降幅收窄,疊加撥備繼續反哺,業績邊際提速。2024年分紅率提升至30.3%(2023:28.4%),高股息屬性進一步突出。短期結構優化仍是主線,信貸增速低位平穩,地產、零售消費敞口持續壓降。4Q24光大銀行貸款同比增長3.9%(3Q24:3.6%),全年新增貸款1469億(2023年:2147億)。光大銀行2024年實現業績穩健正增、資產質量整體平穩的答卷,分紅率邊際提升則進一步夯實高股息優勢,維持“買入”評級。

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