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《大行》摩通:新世界發展(00017.HK)延遲付息利淡香港CRE市場 今年港銀盈利風險或加劇
摩根大通發表研究報告指,新世界發展(00017.HK)將延遲支付其永續債利息,雖然並未構成技術性違約,但卻是一個意外負面因素,顯示香港商業房地產風險緩和過程可能是輕微和漸進的。
摩通相信,在今年餘下時間,香港本地銀行的盈利風險或會加劇。另該行估計HIBOR難以反彈至原先4%以上水平,港銀淨利息收入面臨顯着下行風險。另香港商業房地產前景改善及港元貸款增長復甦,倘發生,過程料屬漸進。即使港銀同業拆息下降,新世界一事亦會減低香港商業房地產相關的ECL押記於次季減少的可能性。
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