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大行評級|建銀國際:工行為當前不確定時期中首選 具穩健股息和防守型基本面
格隆匯 04-15 10:45
建銀國際發表研報指,中國銀行業的資產負債表韌性為當前易受潛在政策變化影響的經營環境提供穩定性,有助於緩解關税相關的波動。中國銀行體系比十多年前更能應對美國的新關税制度。MSCI中國銀行指數年內至今實現2%的絕對回報,超越MSCI世界銀行指數4%。這並不意外,因為全球銀行的盈利波動性較高。儘管自2025財年起經營環境充滿挑戰,中國銀行業的利潤預計仍將保持穩定。該行指,工行在大型中國銀行中提供最穩固的股息收益率。該行認為,在當前不確定時期,憑藉其充足的流動性、強大的減值準備和資本充足率所支撐的資產負債表實力,工行代表了一個安全的避風港。
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