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雷达卡
【出版时间及名称】：2010年2月台湾金融行业研究报告
【作者】：德意志银行
【文件格式】：PDF
【页数】：39
【目录或简介】：
Table of Contents
Investment summary ........................................................................ 3
Outlook ....................................................................................................................................3
Stock recommendation.............................................................................................................4
Valuation ..................................................................................................................................4
Investment risks to the sector ..................................................................................................4
Cross-strait financial opening........................................................... 5
New rules to be promulgated – conditionally liberalized...........................................................5
China opening still a spotlight, but needs to be realistic ...........................................................6
Entry point: it’s about time........................................................................................................7
Healthier fundamentals..................................................................... 9
Better NII outlook......................................................................................................................9
Fee momentum lasting through 1H10; 2H10 outlook unconfirmed........................................12
Asset quality literally improving ..............................................................................................13
2009 preliminary results.................................................................. 15
Lower credit cost, absence of one-off loss, trading gains ......................................................15
2010 guidance .................................................................................. 16
Top line generally better, credit cost generally lower .............................................................16
Pending policy moves ..................................................................... 17
Phase-two of SFAS Article 34: manageable impact................................................................17
Basel III: stricter regulations on core capital and liquidity .......................................................19
Key earnings elements .................................................................... 33
Loan book overview ........................................................................ 36
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