“开门红”收官！存款、大额存单利率下调提速，银行吸储“减负”进行时

Core Viewpoint - The recent trend in the banking sector shows a significant acceleration in the reduction of deposit and large certificate of deposit (CD) interest rates, with some banks lowering rates by up to 40 basis points. Despite this, the willingness of depositors to maintain long-term deposits remains strong due to various factors, including a decline in risk appetite among residents and poor returns from investment channels like wealth management funds [1][5][6]. Group 1: Interest Rate Adjustments - As of April 7, several banks have reduced their deposit and large CD interest rates, with Jilin Bank lowering its one-year rate from 2% to 1.95% and two-year rate from 2.3% to 2.05% [3][4]. - Liao Shen Bank has also adjusted its rates, with one-year, two-year, three-year, and five-year rates set at 1.95%, 2%, 2.05%, and 2.10%, respectively, reflecting reductions of 5 to 15 basis points [3][4]. - Zhongbang Bank announced a reduction in its three-year large CD rate from 2.6% to 2.4% and the five-year rate from 2.9% to 2.5%, marking a 20 and 40 basis point decrease, respectively [4]. Group 2: Trends in Deposit Preferences - Despite the declining interest rates, there is a notable trend towards the increasing preference for fixed-term deposits among residents, driven by a lower risk appetite and unsatisfactory returns from other investment options [6][7]. - Data from major A-share listed banks for 2024 indicates a significant increase in fixed-term deposits, with ICBC reporting an increase of 1,101.81 billion yuan (5.7% year-on-year) in fixed-term deposits, while CCB's fixed-term deposits rose to 15.50 trillion yuan, a 5.44% increase [6][7]. - In the context of joint-stock banks, the proportion of fixed-term deposits is also rising, with CMB reporting an increase in fixed-term deposits from 20.42% to 22.57% [7]. Group 3: Challenges in Liability Management - The ongoing trend of increasing fixed-term deposits poses challenges for banks in managing their liabilities, as high-cost deposits can compress net interest margins and reduce profitability [8][9]. - Banks are focusing on optimizing their deposit structures to maintain stable interest margins, with strategies including enhancing retail loans and increasing the proportion of low-cost deposits [9][10]. - The management of high-cost deposits has become a core task for banks, as excessive reliance on such deposits can lead to a cycle of shrinking margins and declining profits [9][10].