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研報掘金|中金:預計內銀次季淨利潤按年增長1% 予工行、農行及招行“跑贏行業”評級
中金髮表報告,預計內銀股今年第二季收入及淨利潤各按年持平及增長1%,較今年首季跌2%及跌1%略有改善,與去年節奏類似,符合市場預期。業績改善主要來自息差降幅收窄、其他非息收入壓力緩解,人行及利率自律機制對銀行存貸款報價的引導可視爲銀行業的反內卷,穩定銀行盈利、防範金融系統風險。中金稱維持內銀全年盈利及股息穩健的判斷,目前部分A股和H股中資銀行股息率回升至4.5%至5.5%,該行認爲仍有投資性價比,包括國有大行、成都銀行、江蘇銀行等。該行對工行、農行及招行均予“跑贏行業”評級,各予目標價7.11港元、5.09港元及58.98港元。
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