【行家论股】艾芬银行(AFFIN,5185,主板金融股) 可派11仙特别股息
分析:兴业投行研究
目标价:2.45令吉
最新进展:
艾芬银行(AFFIN,5185,主板金融股)脱售子公司艾芬黄氏资产管理有限公司(AHAM)一案已经接近尾声,预料可于今年第三季完成。
该银行早前也表明,脱售所得主要将用于加强自身核心业务,不过也有意派发特别股息回馈股东。
艾芬银行 AFFIN
行家建议:
艾芬银行管理层多次强调,有意于本财年底之前,将贷款损失覆盖提高至100%,这预料需要额外2亿令吉的拨备。
管理层已经计划从脱售AHAM所获得的10亿令吉收益中,划出这拨备金。
脱售所得也将用于支持艾芬银行的贷款增长,余下的才将用于派发特别股息。
我们计算,该银行有能力派发每股11仙的特别股息,相当于提升周息率额外5个百分点。
艾芬银行当下放眼于2025年达至10%股本回报率,以及18%的贷款年均复增;在这个充满挑战的宏观环境当中,我们认为这样的目标显得相当雄心勃勃。
我们也意识到,过于激进的贷款增长,可能带来资产素质问题。
总的来说艾芬银行的中期前景仍是不清晰;但近期可能派发特别股息,将是一个强劲的催化剂,我们将该股评级上调至“短线买入”,目标价也调高至2.45令吉。
艾芬银行股价走势
https://www.enanyang.my/%E8%A1%8C%E5%AE%B6%E8%AE%BA%E8%82%A1/%E3%80%90%E8%A1%8C%E5%AE%B6%E8%AE%BA%E8%82%A1%E3%80%91%E8%89%BE%E8%8A%AC%E9%93%B6%E8%A1%8C-%E5%8F%AF%E6%B4%BE11%E4%BB%99%E7%89%B9%E5%88%AB%E8%82%A1%E6%81%AF
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