德意志银行：2013年泰国银行业投资策略（免费）

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Table Of Contents
Earnings forecast & valuation ........................................................ 3
Earnings growth outlook remains bright… ........................................................................ 3
…but sector now offers more measured upside ............................................................... 5
Stock picks and recommendation revision ........................................................................ 7
Riding consumer spending wave ................................................. 10
Four key factors to keep consumer loans robust in 2013-14 .......................................... 10
More investments from 2H13 ...................................................... 18
Expect corporate loan growth to edge up in 2013-15 ..................................................... 18
Steady loan margins ..................................................................... 22
Margin expansion is no longer a key earnings growth driver ......................................... 22
Fee income remains key driver of profitability ............................. 28
Room for moderate double-digit fee growth ................................................................... 28

d 泰国银行 2013.pdf (701.16 KB)

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关键词：德意志银行 投资策略 行业投资 德意志 银行业 wave growth 投资策略 免费 valuation

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