研報掘金丨開源證券:維持中信銀行“買入”評級,金融牌照齊全、客戶基礎深厚
開源證券研報指出,中信銀行(601998.SH)背靠大型央企中信集團,金融牌照齊全、客戶基礎深厚,2025Q1實現營收517.70億元(YoY-3.72%),增速邊際略有下降。其中利息淨收入同比增長2.05%,增速較爲平穩。2025Q1淨息差爲1.65%,同比下降5BP,較2024年全年下降12BP,降幅相對可控。2025Q1實現歸母淨利潤195.09億元,同比增長1.66%,盈利能力韌性較強。維持其盈利預測,預計2025-2027年歸母淨利潤分別爲688/711/718 億元,YoY分別爲+0.36%/+3.30%/+1.01%;當前股價對應2025-2027年PB 分別爲0.62/0.59/0.54 倍,維持“買入”評級。
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