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《大行报告》花旗:汇控(00005.HK)上季业绩稳固 维持「沽售」评级
阿思达克 02-18 15:52

花旗发表报告表示,汇丰控股(00005.HK)上季业绩稳固,其2019年第四季核心除税前盈利43亿美元,高於市场原预期11%,主要是贷款损失拨备较少(按年跌22%,对比市场原预期按年跌14%),期内收入高於市场预期4%,主要是交易收入强劲(按年升12%),季内录巨额亏损主要是环球银行及资本市场(GBM)商誉进行40亿美元减值。

该行指,汇控新策略计划是至2022年达致10%至12%的列账基准有形股本回报率,将同时在2020年及2021年暂停进行股份回购。

花旗表示,汇控计划至2022年削减风险加权资产总值超过1,000亿美元,进行45亿美元新一轮削减开支,将2022年的经调整支出基础降低至310亿美元或以下,该行估计集团於2022年股本回报率为9%、有形股本回报率为11%。该行相信汇控新策略会令其2020年至2022年营运数据作出转变,相信至2023年重组的效果会显现,重申对其「沽售」投资评级及目标价5.1英镑(约51.49港元)。

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