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天风证券:MLF调降10bp 银行或将继续受益稳增长环境

Tianfeng Securities: MLF downgrade 10bp Bank may continue to benefit from stable growth environment

Breakings ·  Aug 17, 2022 08:07
Tianfeng Securities believes that the higher-than-expected reduction in MLF interest rates highlights the regulatory determination to stabilize growth, and the signal significance is more important. Banks as the main body of wide credit, the MLF interest rate is reduced first, which is helpful to reduce the pressure on banks unilaterally by LPR. During the critical window of steady growth in the third quarter, policy backing is expected to be further strengthened. Banks with advantages to public business may continue to benefit from a stable growth environment; at the same time, the gradual resolution of real estate credit risks will also help banks to repair their fundamentals. Continue to recommend Societe Generale, Jiangsu Bank, Chengdu Bank, Ping an Bank and Wuxi Bank, and suggest to pay attention to Ningbo Bank and China Merchants Bank, which have lower valuations.

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