定价分化凸显！中小银行存款利率调整现“温差”

Core Viewpoint - The adjustment of deposit interest rates among small and medium-sized banks at the beginning of 2026 shows a clear differentiation, with some banks raising rates while others lower them, reflecting both a strategy to attract deposits and the pressure of narrowing net interest margins [1][3][6]. Group 1: Rate Adjustments - Several small and medium-sized banks have announced adjustments to their deposit interest rates, with some increasing rates for specific products, such as Shanxi Hunyuan Rural Commercial Bank raising its one-year fixed deposit rate from 1.40% to 1.45% [3][5]. - The New Rural Commercial Bank of Henan has also raised rates across multiple terms, with one-year, two-year, three-year, and five-year rates increasing from 1.16%, 1.21%, 1.55%, and 1.35% to 1.41%, 1.43%, 1.73%, and 1.50% respectively [3][5]. - Conversely, some banks, like Xin'an Bank, have announced rate cuts for various deposit products, with three-month, six-month, one-year, two-year, and three-year rates reduced to 1.45%, 1.65%, 1.85%, 2.25%, and 2.20% respectively [5][6]. Group 2: Differentiated Strategies - The differentiation in rate adjustments is attributed to varying operational conditions among banks, including differences in liability structures and regional funding supply-demand dynamics [5][9]. - Some banks are adopting a "long rise, short drop" strategy, where they increase long-term deposit rates while reducing short-term rates, as seen with Wangdu Zhongcheng Village Bank [4][5]. - The phenomenon of interest rate inversion, where longer-term rates are lower than shorter-term rates, indicates banks' expectations of future rate declines and aims to guide depositors towards mid-term savings [4][6]. Group 3: Net Interest Margin Pressure - The average net interest margin for commercial banks has stabilized at 1.42%, with significant differences across bank types, where small and medium-sized banks face more pressure compared to larger banks [7][8]. - Small and medium-sized banks often need to offer higher rates to attract deposits due to their weaker brand influence and customer base, which increases their funding costs [7][8]. - The ongoing pressure on net interest margins is prompting banks to reconsider their pricing strategies, moving away from uniform rate adjustments to more nuanced, risk-based pricing mechanisms [9].