银行股守稳升势 中国光大银行(06818)涨4.42% 机构指港股大行股息优势突出、估值性价比高

金吾财讯
Jan 23, 2025

金吾财讯 | 银行股守稳升势,中国光大银行(06818)涨4.42%,邮储银行(01658)涨2.86%,建设银行(00939)涨2.63%,工商银行(01398)涨2.61%,中信银行(00998)涨2.05%,农业银行(01288)涨1.93%,中国银行(03988)涨1.8%。消息面上,中央金融办等六部门联合印发《关于推动中长期资金入市工作的实施方案》。中国证券监督管理委员会主席吴清表示,《推动中长期资金入市工作的实施方案》明确未来三年公募基金持有A股流通市值每年至少成长10%。吴清也表示,2025年第二批保险资金长期股票投资试办将在2025年上半年落地,资金规模将不低于1,000亿元。另外,华泰证券表示,25年1月以来该行组织银行开年系列交流,对近期经营变化进行全面沟通。本篇报告总结五大关注点:1)量:不同类型银行开门红分化,该行预计25年整体信贷增量较24年持平。2)价:负债成本优化,息差仍承压但降幅或收窄。3)质:零售风险仍在出清,对公整体平稳。4)中收:市场回暖下手续费收入改善确定性较强。5)投资:基数有压力,但仍有主动管理空间,预计不会对营收造成负向拖累。政策力度可期,把握优质银行结构性机会。推荐个股:1)红利质优个股;2)港股大行股息优势突出、估值性价比高。

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