小摩:香港银行股10月跑赢大市 看好区域性银行前景

智通财经
Nov 11, 2025

智通财经APP获悉,小摩大根发布研报称,10月份香港本地银行股跑赢恒指18%,主要受惠于恒生银行(00011)私有化消息。不过,整体银行业基本面保持稳定,贷款增长温和,香港银行同业拆息继续上升但幅度收窄。

小摩认为,虽然汇丰控股(00005)的下行风险已大致反映在股价中,且私有化交易将从2027年起提升每股盈利及股本回报率,但该行仍然偏好区域性银行多于本地银行,主要是基于区域性银行的拨备前经营溢利较为稳健,且中国香港/内地房地产风险较低。

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