李慧芬

民生銀行(01988.HK)

2015-02-13

民生銀行(01988.HK)去年賺445億人民幣增5.4%

民生銀行(01988.HK) 公布2014年度業績快報,按中國會計準則,營業收入1354.69億人民幣(下同),按年增加16.9%。錄得純利增長5.36%至445.46億元,每股收益1.31元。2014年止,不良貸款率1.17%,較年初上升0.32%。

民行(01988.HK)盈利遜預期

民生銀行(01988.HK) 去年盈利遜於市場預期,全年盈利增幅為5.36%,較首九個月之10.3%放緩,相信表現遜於預期主要受到更高的信貸成本和不良貸款比上升所影響。而在是次不良貸款的上升周期中,這一季以點子計算之升幅是最高的一次,考慮到第四季通常是最多出售或撇帳不良貸款的季度,相信潛在不良貸款形成情況已經穩定下來。雖然高管被撤換及安邦增持令民行存在策略及獨立性上的不穩定性,但股價在8.50元左右有較強支持,建議投資者在此水平買入民生銀行(1988.HK),目標10.20元。

(The above displayed are just writers’ own opinions and for readers’ reference only. Financial markets are volatile and please be careful of the risks.)NOTICE

Investment involves risk. It is as likely that losses will be incurred rather than profits made as a result of buying and selling investment and financial products. Before investment, you should be aware of all the risks involved and carefully consider your investment objectives, trading experience, and level of risk acceptance. If you have any question, please seek advice from an independent professional advisor.

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