《大行報告》麥格理:內銀面對新一輪財富管理產品贖回 偏好國有銀行首選中行(03988.HK)
麥格理髮表研究報告指,由於債市調整,銀行面臨新一輪理財產品贖回,又預計客戶將失去對理財產品的興趣,從而削弱銀行在理財產品業務中賺取高股本回報率的能力。該行看好國有銀行,首選中國銀行(03988.HK),又認爲如招商銀行(03968.HK)這類的股份制銀行,對贖回會受到較大影響。
該行表示,從長遠來看,財富管理服務的需求將出現結構性增長,惟近期由於利率調整,中期來說會降低客戶對銀行財富管理產品(WMP)的興趣,並將儲蓄用於存款和銀行保險。該行認爲,同時扮演分銷商和資產管理者角色的銀行必須通過重組業務模式來解決利益衝突,爲客戶提供合適的產品。
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