《业绩前瞻》券商料中行(03988.HK)上半年多赚4%留意净息差及资产质素
中国银行(03988.HK)将於本周五(30日)公布截至今年6月底止中期业绩，由於资产收益率普遍下降，存款竞争激烈，净息差料按季下跌、本网综合5间券商预测，中行今年上半年纯利料介乎1,127亿至1,137.79亿元人民币，较2018年同期1,090.88亿人民币，按年增加3.3%至4.1%；中位数1,135.61亿元人民币，按年增加4.1%。
综合4间券商预测，中行今年上半年净利息收入料介乎1,797亿至1,853.85亿元人民币，较2018年同期1,767.01亿人民币，按年增加1.7%至4.9%；中位数1,843.37亿元人民币，按年增加4.3%。投资者将关注中行的贷款质素及净息差走势。
【料业绩平稳 留意三要点】
摩根大通估计中行上半年纯利1,131.83亿人民币按年升4%(按半年增长59%)、料利息净收入按年增4%至1,845.52亿人民币、料净息差按年收窄5个基点至1.82%、非利息收入按年增长19%至891.76亿人民币。该行指投资者将关注中行业绩三个要点，第一是资产质素、第二是净息差走势。第三是普惠金融业务表现。
摩根士丹利早前报告指，料中行净息差将维持稳定，但有下行压力，资产收益率亦将有下行空间，第二季融资成本则面临上升压力，纵使上升速度较首季缓和，其中中小企贷款收益率低於5%，新企业贷款收益率约为4.6%至4.7%，较首季度的零售贷款低约1厘。信贷需求则仅保持稳定而没有改善。
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本网综合5间券商预测，中行今年上半年纯利料介乎1,127亿至1,137.79亿元人民币，较2018年同期1,090.88亿人民币，按年增加3.3%至4.1%；中位数1,135.61亿元人民币，按年增加4.1%。
券商│今年上半年纯利预测(人民币)│按年变幅
瑞银│1,137.79亿元│+4.3%
招银国际│1,136亿元│+4.1%
花旗│1,135.61亿元│+4.1%
摩根大通│1,131.83亿元│+3.8%
建银国际│1,127亿元│+3.3%
按中行去年中期纯利1,090.88亿人民币计算。
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综合4间券商预测，中行今年上半年净利息收入料介乎1,797亿至1,853.85亿元人民币，较2018年同期1,767.01亿人民币，按年增加1.7%至4.9%；中位数1,843.37亿元人民币，按年增加4.3%。
券商│今年上半年净利息收入预测(人民币)│按年变幅
美银美林│1,853.85亿元│+4.9%
摩根大通│1,845.52亿元│+4.4%
瑞银│1,841.22亿元│+4.2%
建银国际│1,797亿元│+1.7%
按中行去年中期净利息收入1,767.01亿人民币计算。
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