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華泰證券:政策組合拳力度加碼,看好銀行板塊估值修復
華泰證券認為,3月30日四家大行公吿合計定增募資5200億元(建行1050億、中行1650億、郵儲1300億、交行1200億),用於補充一級核心資本。財政部為主要認購對象,認購金額達5000億元。四家大行均採取溢價增發,發行價格對應24年PB較市場價(2025/3/28)溢價幅度為9%至18%。息差下行背景下大行內生資本補充速度放緩,通過定增補充核心一級資本有助於發揮資本的槓桿撬動作用,增強銀行信貸投放能力。政策組合拳力度加碼,看好銀行板塊估值修復。
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