星展发表研究报告指，中银香港(02388.HK) 上半年业绩胜于预期，纯利按年升10.5%至221.5亿元，其在HIBOR的情况下，次季净息差按季跌2个基点至1.53%，不良贷款率为1.02%，相较去年下半年降3个基点。
该行预计，中银香港2024至2027财年的盈利年幅合增长率为2.3%，由于上调非净利息收入预测，将2025至27财年的收益预测上调了1至2%。该行预计，受惠于贷款量预期增长，料2025财年的净利息收入将按年下降，然后在2026和27财年大致持平。另外，由于年初至今中国和香港资本市场得到改善，手续费收入增长有望稳步回升，料将抵消净利息收入的压力。
星展重申中银香港的“买入”评级，目标价由36元上调至39.4元。(sl/w)(港股报价延迟最少十五分钟。沽空资料截至 2025-09-03 16:25。)
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