存款还是理财？前三季度银行手续费上涨揭示财富配置新动向

Core Insights - A discussion is emerging regarding whether to choose deposits or invest in wealth management products, as some banks see a rise in time deposit scales while others report a recovery in net fee income from non-interest sources, with some banks experiencing a doubling of this income [1][2]. Group 1: Wealth Management and Investment Trends - An increasing number of investors are moving funds from deposits to bank wealth management and fund products due to low deposit interest rates, with many seeking higher returns from these alternatives [2][5]. - The capital market's positive performance since the third quarter has led to significant increases in various wealth management products, contributing to the recovery of banks' net fee income [5][6]. - Among 42 listed banks, 26 reported a year-on-year increase in net fee income, with notable growth from Changshu Bank (364.75%) and Ruifeng Bank (162.66%) [5]. Group 2: Bank Performance and Fee Income - In the third quarter, net fee income for banks like China Merchants Bank reached 56.202 billion yuan, marking a 0.90% year-on-year increase, with wealth management fees growing by 18.76% [5]. - The growth in wealth management services is attributed to the favorable capital market conditions, with banks aiming to capitalize on the increasing wealth in society [6]. Group 3: Deposit Trends and Consumer Behavior - Despite a decline in deposit interest rates, personal time deposits have shown positive year-on-year growth across several banks, indicating a continued demand for savings [7][10]. - Some investors, particularly those with lower risk tolerance, continue to prefer time deposits as their primary investment method, even in a fluctuating market [7][8]. - A survey indicated that 62.3% of residents preferred saving over investing or spending, reflecting a cautious approach among consumers [8]. Group 4: Future Outlook - Industry experts predict that deposit interest rates will continue to decline, and the trend of moving funds from deposits to wealth management products is expected to persist [11][12]. - The outflow of funds from deposits to wealth management is driven by the faster decline in deposit rates compared to the yields on wealth management products, making the latter more attractive [13].