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2024年来中银香港主动压降涉房敞口,增量集中于东南亚及本土头部蓝筹
2024年来中银香港主动压降涉房敞口,增量集中于东南亚及本土头部蓝筹
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图片大小:462KB
图片尺寸:2314*1182
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所属报告:
中银香港(2388.HK)-港股公司研究报告:高股息护航财富与出海共促成长-260316(22页).pdf
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沪农商行涉房贷款压降规模空间测算
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行业数据
2023-01-29
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图7涉房贷款压降规模、个人住房贷款压降规模、对公房地产贷款压降规模测算思路
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图20个人住房贷款压降对商品房销售的冲击测算思路
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行业数据
2021-01-15
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表2线性压降假设下个人住房贷款压降对2021年商品房销售额的影响测算
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行业数据
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图8线性压降假设下2021年涉房贷款压降规模及其占总涉房贷款规模比例
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2024年来中银香港贷款低速扩张,核心因需求偏弱及主动压降涉房敞口,增量集中于本土头部蓝筹及东南亚“出海”企业。2022-2Q25,中银香港贷款增速中枢仅约 1.5%,一方面源自中国香港信贷需求的整体疲弱(尤其是本土按揭,2024 年来年均增量仅约 2019-2023 年增量均值的一半),另一方面也因自身主动压降物业发展(即为一手房开发贷款,2024 年来余额下降近 340 亿港元)、内地涉房敞口等(2022-2024 年,在中国香港以外使用贷款累计下降近 640 亿),但金融业、制造业等本土头部企业信贷需求保持平稳(1H25合计贡献贷款增量的 40%)。从区域结构看,中银香港本土投放贷款规模约 75%,而伴随东南亚贷款规模的快速扩张(1H25 新增近 50 亿,贡献集团贷款增量的 15%),预计后续异地贡献有望稳步提升。
行业数据
原图定位
当前图表所属:
中银香港(2388.HK)-港股公司研究报告:高股息护航财富与出海共促成长-260316(22页).pdf
资产定价拖累中银香港息差落后同业,但受益于存款在总负债占比更高、存款内部低息存款占比近6成,
2025年来,中银香港存款内部结构明显改善
2024年来中银香港主动压降涉房敞口,增量集中于东南亚及本土头部蓝筹
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