2010年8月香港银行业研究报告.pdf

| Credit Research | Hong Kong banks – Strong H1-2010 results 02:45 GMT 17 August 2010 The banks reported stable H1-10 results, with strong loan growth and improved asset quality We change our credit outlook of Dah Sing Bank to stable from negative; others remain stable We see little value in the Hong Kong bullet LT2 space at current levels Hong Kong banks report H1-2010 results Analysts Bank of East Asia (BEA), Chong Hing Bank, CITIC Bank International (CBI), Dah Sing Bank and Wing Hang Bank reported H1-2010 results. Shilpa Singhal, +65 6427 5968 The banks vying to improve market share, registered very strong loan growth in Standard Chartered Bank, Singapore Credit Analyst the range of 10-20% YTD (mortgages, and trade and manufacturing loans), Shilpa.singhal@ helped by Hong Kong’s economic strength. Given recent measures to control property price increases, loan supply and demand in the mortgage segment may Shankar Narayanaswamy, +65 6725 7810 Standard Chartered Bank, Singapore wane somewhat going into H2-2010. Head of Credit Analysis Deposit growth remained muted, causing loan-to-deposit ratios to rise to the 60- Shankar.Narayanaswamy@ 84% range (from 55-78% at end-2009). As the government deposit guarantee Victor Lohle, +65 6427 5051