个别银行“抢跑”年末揽储 负债成本管控更趋精细化

Core Viewpoint - In the context of sustained pressure on net interest margins, many small and medium-sized banks are initiating a new round of interest rate cuts, actively lowering the upper limit of deposit rates to create space for profit growth [1][5]. Group 1: Deposit Rate Adjustments - Some banks have begun to quietly ramp up deposit acquisition efforts as the year-end approaches, combining this with refined and tiered customer management to stabilize general deposits while effectively controlling liability costs [1][2]. - Since early October, several small and medium-sized banks have held fourth-quarter operational meetings, emphasizing the importance of achieving a successful year-end while preparing for a strong start to the new year [2][3]. - The recent downward adjustments in deposit rates have led to most market deposit products now having rates in the "1" range, with major state-owned banks last adjusting their deposit rates on May 20, resulting in rates of 1.05% to 1.3% for various terms [3][4]. Group 2: Liability Cost Management - The continuous decline in deposit rates has made it challenging for risk-averse savers to find alternative investment options, leading to a sustained popularity of large-denomination certificates of deposit [4][6]. - The People's Bank of China has emphasized the need to further reduce the overall liability costs of banks to alleviate net interest margin pressures, with recent rate cuts providing banks with more room to improve their liability costs [5][6]. - Banks are increasingly adopting refined and tiered strategies for managing liability costs, with some banks experiencing interest rate inversion, breaking the traditional expectation that longer terms yield higher rates [6][7]. Group 3: Targeted Deposit Strategies - Banks are implementing differentiated deposit strategies for various customer segments, particularly offering higher rates and lower minimum deposit thresholds for older customers [7]. - This approach not only optimizes the liability structure and locks in stable long-term funds but also reduces liquidity management pressures and enhances customer acquisition efficiency [7].