最高降20基点！多家中小银行宣布下调人民币存款利率，专家：未来长期下行趋势或持续【附银行业存款业务分析】

Core Viewpoint - Several small and medium-sized banks in China have announced a reduction in RMB deposit rates, with cuts ranging from 10 to 20 basis points [2][3]. Group 1: Deposit Rate Adjustments - Jiangsu Bank and Nanjing Bank have adjusted their three-year fixed deposit rates, with Nanjing Bank's rate decreasing from 1.85% to 1.75% [3]. - Jilin Longtan Huayi Village Bank has lowered its current deposit rate from 0.2% to 0.15% and reduced fixed deposit rates across various terms by 10 to 20 basis points [3]. - Shandong Gaomi Huimin Village Bank has also cut its fixed deposit rates by 10 basis points for 6-month, 1-year, and 2-year terms, and by 20 basis points for 3-year and 5-year terms [3]. - Other banks, including Zhejiang Shengzhou Ruifeng Village Bank and Jilin Baishan Hunjing Hengtai Village Bank, have similarly reduced deposit rates by 10 to 20 basis points [3]. Group 2: Banking Sector Performance - As of the end of Q2, China's commercial banks reported a net interest margin of 1.42%, a decrease of 0.01 percentage points from the end of Q1, indicating pressure on bank profitability [3]. - The reduction in deposit rates is a strategy for banks to cope with the declining net interest margin, allowing them to maintain competitiveness in short-term deposits while lowering long-term funding costs [3]. Group 3: Historical Context and Market Trends - In May, six major banks collectively lowered deposit rates by up to 25 basis points, setting a benchmark for market rates [4]. - From 2017 to 2022, the deposit scale of major Chinese banks grew from 79.31 trillion yuan to 119.24 trillion yuan, with a compound annual growth rate of 8.50% [4]. - Since 1994, China's benchmark deposit rate has gradually decreased, and while the central bank's rate has not changed in seven years, market rates have continued to decline, significantly reducing actual deposit yields [6]. Group 4: Macroeconomic Effects - The reduction in deposit rates has a dual macroeconomic effect: it may stimulate consumer spending while lowering corporate financing costs [7]. - For instance, with a three-year fixed deposit rate of 1.75%, a deposit of 100,000 yuan would yield 100 yuan less annually compared to before the adjustment, potentially translating into increased consumer spending [7]. - The shift of funds towards equity markets and the real economy could facilitate structural economic transformation and upgrading [7].