《大行》摩通續列渣打(02888.HK)爲香港銀行股首選 料一馬訴訟需時數年解決
摩根大通發表研究報告,維持對渣打集團(02888.HK)的正面看法,指出雖然渣打捲入了馬來西亞一馬發展公司(1MDB)相關訴訟,被指控於2009至2013年期間容許逾100筆行內轉賬協助隱匿被盜資金,訴訟可能需時數年解決,估計對集團2024至2026年逾80億美元分派及2025財年27.5億美元回購計劃影響有限。
摩通又指,最壞情況下罰款高達27億美元,相當於2027年利潤預測53億美元的37%,估計將對該行2027年一級資本比率(CET1)帶來72基點的拖累,仍屬可控範圍,相信實際處罰金額將遠低於此。
摩通繼續列渣打爲香港銀行股中的首選,認爲渣打受HIBOR回落及香港商業地產風險影響較小;並且是人民幣國際化主要受惠者;又擁有較明確數字資產發展策略,較同業更能抵禦穩定幣的衝擊,目標價135元,評級「增持」。
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