瑞银发表报告，维持民生银行(01988.HK) “中性”评级，目标价由2.65元上调至3.75元，将今年每股盈利预测下调9%，以反映收入、营运开支及减值开支的预测分别下调8%、5%及10%，同时亦预计该行的派息比率将保持稳定。
报告称，民行管理层称今年贷款增长略微加快，瑞银预计增长将为3.4%。去年该行净息差收窄幅度料小于同行，民行计划今年净息差跌幅将会更小，因旧有的大部分的定期存款逐渐转为较低利率、中小企业客户提供更好的回报，以及在第四季度抵押贷款再融资的影响较小下，抵押贷款余额规模较细。
瑞银又关注民行的信用卡、中小企以及房地产风险，因该行的信用卡贷款不良贷款比率较同行为高，整体而言该行的不良贷款覆盖率仍然落后于同行，令该行在撇帐方面的空间有限，预计该行的信贷成本在今年将降至98个点子，但在中期内仍需保持在较高水平，以确保不良贷款覆盖率高于最低要求的130%。(mn/da)(港股报价延迟最少十五分钟。沽空资料截至 2025-01-24 16:25。)
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