点评： 联储董事会于 8 月17 日发布美国2 季度银行信贷调查报告。受访者为55 家国内银行和23 家外国银行分支机构的高级贷款官员。调查报告分别对当 期工商业和家庭部门的信贷供求情况进行问卷式调查。调查结果以扩散指 数（百分比）的形式公布。 报告结果显...
前言： 近期市场传言：管理层将严格控制下半年的信贷规模，这一传言导致近期市场暴跌。我们重申我们的观点，下半年货币政策以动态微调为主基调，2009 年全年信贷接近但不超过10 万亿是一个合理的选择。 我们的观点： 央行对货币和信贷政策进行调控的意愿非常...
2Q09 earnings preview: Our current forecast for 2Q09 is a modest 6% q/q earnings contraction in aggregate, due to higher operating costs and our assumption of slightly higher credit costs in 2Q09. We however see modest upside from fees, vo...
评论： TALF 是资产支持证券市场重起的必须条件, 亦是支持经济持续复苏的重要举措。尽管金融市场近来已有显著改善，但经济衰退使得新增贷款需求大幅下降，贷款条件不断收紧亦打压了再融资需求，而资产价格下降增加违约风险导致银行惜贷现象持续。在信贷供求...
09 年上半年利润同比增长3%至660 亿元，显示出业务模式强大有力 在无与伦比的销售网络、谨慎的信贷扩张政策、明确地以高增长收费业务 为重点、积极主动的风险管理和领先的IT系统等诸多优势的共同推动下，工 行取得了亮丽的中期业绩，同时根本的信贷风险下降...
Earnings mix slightly weaker than expected ICBCs 2Q net profit was in-line with our expectations, but earnings mix was slightly below as qoq growth in net interest income (+1%) and fees (+5%) was more sluggish than expected, but was offset...
Contents 1. Overview 2. Factors driving stocks differ 3. De-leveraging or re-leveraging? 4. Risks linger but worst over 5. From book to earnings 6. Appendix...
US Banks Commercial Real Estate Losses May Total $250-300b Matt O-Connor, CFA Research Analyst (1) 212 250 8489 matthew.o-connor@db.com Robert Placet, CFA Associate Analyst (1) 212 250 2619 robert.placet@db.com Adam Chaim, CFA Research Ass...
2009 is shaping up to achieve the sweet spot of loans growth and expanding NIMs. Philippine banks are achieving this while keeping asset quality relatively sound, due to the absence of credit over extension during many years following the...
2009 is shaping up to achieve the sweet spot of loans growth and expanding NIMs. Philippine banks are achieving this while keeping asset quality relatively sound, due to the absence of credit over extension during many years following the...
