高盛发表报告指,招行(03968.HK) 近期股价疲软,招行(600036.SH) A股与H股今年为止分别下跌5%和4%,且较三个月高点回调8%和6%,反映2025年第四季业绩表现疲弱,以及相对保守的2026年盈利展望。然而,该行认为市场低估了招行的盈利上行空间,关键分歧在于预期信贷成本增幅将较低;持续消化按揭、影子银行及房地产信贷风险,无需大幅增加拨备;零售及企业贷款拨备需求可控。该行预期这些...
Source Link高盛发表报告指,招行(03968.HK) 近期股价疲软,招行(600036.SH) A股与H股今年为止分别下跌5%和4%,且较三个月高点回调8%和6%,反映2025年第四季业绩表现疲弱,以及相对保守的2026年盈利展望。然而,该行认为市场低估了招行的盈利上行空间,关键分歧在于预期信贷成本增幅将较低;持续消化按揭、影子银行及房地产信贷风险,无需大幅增加拨备;零售及企业贷款拨备需求可控。该行预期这些...
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