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Data:2009-12-12 2:34
Analysis of bank shares, the following indicators are noteworthy:
1, the stock book value per share (P / B): The formula is price / book value per share. The main assets of the bank loan, loans, subject to market conditions seldom make the valuation of change, P / B is a measure of an important indicator of bank shares. Price should not deviate too far from book value, in general, P / B value The higher, reflecting the higher share price. The economy is good when the stock market Wong, bank stocks P / B is relatively high, such as some small and medium banks, in the market price of the good times are about two times book value per share, but the downturn in the stock market, only one-fold about.
2, return on equity (ROE): The formula is the net profit / shareholders funds. This is a measure of management's use of superior shareholder's equity is a ratio. In general, the higher the ratio the better the
3, floating-rate gap is: Simply put, that is, into a bank to earn a yield spread, floating-rate difference of course, the higher the better. However, in recent years, the bank interest margins continued to shrink, as of mid-2004 performance, Hong Kong-listed bank's interest margin between 1.42% ~ 3.02% range.
4, the cost-to-income ratio: The formula is operating costs / operating income. This is a measure of management's ability to effectively control the cost of a ratio, in general, the ratio the lower the better.
5, non-performing loan ratio (NPL): for the interest credited to suspense account or has ceased to interest loans to clients. In recent years, Hong Kong's economic recovery, unemployment and bankruptcies, there are improvements in the bank's non-performing loans ratio of Qu Jiang, generally at a level of health.
6, the capital adequacy ratio (CAR): The formula is (capital - net of items) / (risk-weighted assets +12.5 times the market risk capital). In accordance with international standards, capital adequacy ratio of at least 8% would be eligible. The capital adequacy ratio of banks in Hong Kong are generally over 12%.
