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野村:维持农业银行(1288.HK)3.58港元目标价 评级买入
格隆汇 04-30 13:41

野村发表研究报告指,由于贷款增长强劲,拨备增加,今年农业银行(1288.HK)首季的盈利按年增长2.6%,而运营利润减少1%。该行维持农行目标价3.58港元及买入评级。

野村表示,由于集团贷款的强劲增长,净利息收入按年增长4.8%,同时,净利息收益率面临压力,该行预期为按年减少19个基点。

野村又指,农行手续费收入按年增长了12.2%,很可能是由银行卡手续费增长推动。尽管集团的收入与工行和建行相比仍然落后,但来自手续费收入的贡献却按年增长1.14个百分点至15.6%。

野村指出,农行的成本收入比微升27基点至32.72%,其中营业开支增加4.9%。资本方面,农行普通股权一级资本比率和资本充足率分别下降至1.98%和16.37%。

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