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大行评级|大摩:料HIBOR下行会对汇控及渣打净息差带来压力

Big Bank Rating | Damo: HIBOR downturn is expected to put pressure on Foreign Exchange Control and Standard Chartered's net interest spreads

Gelonghui Finance ·  Apr 9 15:14
Glonghui, April 9 | Morgan Stanley released a report saying that slowing loan growth and falling interbank interest rates in Hong Kong are dragging down the net interest income of HSBC Holdings and Standard Chartered Group, but handling fee revenue is expected to be strong. According to the report, data for the first two months released by Hong Kong and Singapore showed weak balance sheet growth for HSBC and Standard Chartered. The downward pressure of interbank interest rates in Hong Kong will also put pressure on net interest spreads, so net interest income will weaken, but wealth management revenue showed strong performance at the beginning of the year. However, the quality of credit is still good. Damo expects that the sale of the Canadian business by Foreign Exchange Control will bring in revenue of 4.9 billion US dollars, declare a special dividend of 21 cents per share, and buy back an additional 2 billion US dollars of shares. Standard Chartered is expected to pay 150 million US dollars due to South Korea's ELS business, and may further depreciate Bohai Bank. However, Standard Chartered usually does not announce first-quarter share buybacks.

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