[外行报告] 花旗：2013年香港银行业研究报告（免费） [推广有奖]

Differentiated Liquidity Experience 3
Arrows on the Bow – Two Scenarios for Shooting 7
Entering “Loan Re-pricing Paradise” 10
BoCHK more exposed to Syndicated loans re-pricing 13
NIM Dilution more phenomenal than NIM Contraction 14
Base case illustrations – Loan growth on corporate, offshore, but
less on retail mortgages 15
Stock Picks 17
2012 share price performance – stellar till 3Q, lacked after 18
Substantial Underperformance vs HK/China 19
Substantial Underperformance vs Asian Banks 19
Valuation Comp 20
Financial Summary 21
Appendix A-1 28

HongKongBanks：ArrowsontheBow–Outlookfor2013（201301070002GH001S）.pdf (532.63 KB)

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