-- 傑富瑞週一在一份報告中指出，澳洲國民銀行（ASX：NAB）公佈了令人失望的半年業績，並表示該行面臨日益上升的資產品質風險。報告同時指出，需求依然強勁，成本控制得宜。 該行公佈的2026財年上半年現金收益為26.4億澳元，年減26%，低於傑富瑞先前3%的預期。 這家投資公司將NAB 2026財年和2028財年的每股收益預期下調了1%，理由是流動資產收益下降以及潛在貸款損失的減值準備增加，儘管利潤率的提高部分抵消了這些不利影響。 傑富瑞表示，在宏觀經濟環境不明朗的情況下，投資人對該行在中小企業（SME）方面的風險敞口感到擔憂。此外，NAB撥備的不良貸款撥備也高於同行，這使其回報率下降了1%以上。 然而，該券商仍認為NAB的風險回報比具有吸引力。儘管近期股價表現不佳，但預計下半年利潤率將有所改善。 傑富瑞維持對澳洲國民銀行的「買入」評級，但將目標價從47.73澳元下調至46.98澳元。
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