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Dah Sing Bank Said Signing HK$3.42M Lease in Wan Chai’s Sunlight Tower

8/10/2019


Dah Sing Bank, which was established in 1947, will be taking up 76,000 square feet in the Sunlight Tower, also known as the MLC Tower, according to an account in the Hong Kong Economic Times.

The Hong Kong-listed commercial bank is said to be paying the equivalent of HK$45 per square foot per month for its new home in the 40-storey skyscraper at 248 Queen’s Road East — around 50 percent less than the current HK$80 to HK$90 rates at its current home in the Everbright Centre.

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Struggling Chinese Bank Gets a Lifeline From State-Backed Investors

8/07/2019
The Industrial and Commercial Bank of China, the country’s largest bank by assets, said one of its units would pay up to 3 billion yuan ($435.6 million) for a 10.82% stake in Bank of Jinzhou Co., which lends mostly to small and medium-size companies in a northeastern region of the country.

ICBC said its investment was aimed at supporting the regulators’ goal of channeling more funding to the private sector.

Two of China’s largest asset managers that specialize in handling distressed debt will also take minority stakes, Bank of Jinzhou said. China Cinda Asset Management’s stake would represent about 6.49% of its shares. China Great Wall Asset Management’s stake wasn’t disclosed.

The news sent prices of Bank of Jinzhou’s U.S. dollar bonds higher on Monday, according to traders. The introduction of state-backed firms could pave the way for future capital injections into the bank, said some analysts.

The recent moves had little impact on the country’s money markets despite investor concern over the health of the Chinese banking system in recent weeks. In May, Chinese regulators seized control of Baoshang Bank, once controlled by a missing tycoon and facing serious credit risks. The authorities said the takeover was an isolated incident but it led to spikes in some short-term lending rates and other market dislocations. The regulators took steps to calm the market by pumping liquidity into the system and asking brokers and financial firms to continue to trade with each other.

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恒生淨息差略遜預期 3大行維持中性評級

8/07/2019
恒生銀行(00011)截至6月底止的上半年純利按年增長7.98%至136.56億元。高盛發表報告指,恒生上半年每股盈利6.98元,較該行預測高出5%,維持給予「中性」評級,目標價209元。

高盛表示,恒生上半年收入較該行預測高出3%,不過淨息差2.21%,較高盛預測的2.23%略低,主要是籌資成本較高。另外,成本增長按年上升11%,高於9%之收入增幅;撥備較高盛預測低23%。

花旗亦維持恒生「中性」評級,指中期純利較市場預測高出2%,主要由非利息收入帶動,保險業務表現強勁,不過淨利息收入及淨息差遜預期,另外收入增長率低於支出增長率(negative jaws)。

連結

恒生中期多賺8% 派中期息1.4元

8/07/2019
恒生(00011) 公布中期業績,恒生股東應得溢利按年增加8%,為136.56億元,除稅前溢利增加7%至158.94億元。每股盈利增加5%至6.98元,恒生第二次中股息派1.4元,按年增加7.7%。

期內,營業溢利增加6%至155.61億元,扣除預期信貸損失變動及其他信貸減值提撥前之營業溢利增加8%,為160.71 億元。

淨利息收入增加11%,為158.53億元,非利息收入上升2%,為65.56億元。

期內預期信貸損失變動及其他信貸減值提撥為5.1億元,較2018年上半年2.38億元增加一倍,反映貸款組合增長,以及經濟前景趨於複雜令準備金增加。

連結

海通國際維持大新金融目標價49.5元,料未來2-3年回購持續

7/29/2019
海通國際維持大新金融(440)目標價49.5元,評級為「買入」,該行稱管理層表示一般保險的淨保費增長在2019年上半年維持穩固,且相關業務投資改善,而其仍有33億元過剩資本,只花了6億回購,而大股東未來12個月增持需提全購,相信集團未來2-3年將續向日本MUFG回購全數11.07%,變相應用13-15億過剩資本。

海通:大新銀行料2019年貸款增中單位數,維持目標價17.4元

7/29/2019
海通國際探訪大新銀行(2356),管理層稱2019年上半年貸款環比增長放緩至單位數,主要由於貿易融資和澳門地產發展貸款下跌,主要貸款增長動力來自香港住宅按揭和對內地大中型企業貸款,料2019年貸款增長為中單位數字。管理層也料2019年上半年淨息差將環比持平,也未見存款由活期轉至定期的趨勢。

海通國際估計,大新銀行的同業拆息基礎的資產和負債分別佔其平均利息收益資產(AIEA)的26%和34%,故拆息和存款利率息差每跌25點子,淨息淨息差將升2點子,而淨美元倫敦同業拆息資產料佔2018年AIEA的8%,故美息每降25點子將收窄淨息差2點子,故該行上調對大新銀行2019-20年的淨息差預測至1.9-1.93%。

海通國際又指,大新銀行見證券經紀、貿易融資和信貸相關費用在2019年上半年下跌,相當於2018年毛收入27.5%,然而在基金分銷方面只見有限跌幅,而銀保業務和客戶為主的外匯相關業務也維持健康增長,海通降2019-21年淨收用收入複合增長由9.3%降至3.9%,維持大新銀行目標價17.4元,評級維持「買入」。


摩根大通下調大新系盈測和目標價

7/29/2019
摩根大通下調大新銀行(2356)2019-21年盈利預測4-6%,反映更低的淨息差和較高信貸成本,不過部分被較低的重慶銀行(1963)的撥備所抵銷,目標價由原來16.7元降至16.3元,相當於2020年市賬率0.8倍。該行亦因應大新銀行較低貢獻也調低大新金融(440)盈測4-5%,目標價由55元降至52元,即20年市賬率0.6倍。

大新銀行推全新流動證券交易應用程式

7/29/2019
大新銀行(2356)宣佈,推出全新流動證券交易應用程式「流動證券交易App+」。
大新銀行執行董事兼財富管理處主管陳維堅表示,公司正積極拓展數碼化財富管理平台,而今年財富管理業務上亦錄得理想的成績,在首六個月投資服務客戶人數增加5%,零售客戶於銀行的投資相關資產總值更增加15%。

連結