Core Viewpoint - A new wave of interest rate cuts is occurring among banks, particularly affecting deposit rates, with many commercial banks, especially private and rural banks, leading the reductions [2][8]. Group 1: Interest Rate Cuts - Several commercial banks, including Ping An Bank and Hengfeng Bank, have recently lowered their deposit rates, with Ping An Bank reducing its 3-year deposit rate from 2.05% to 1.65%, a decrease of 40 basis points [2][3]. - Over half of the private banks have cut their deposit rates in April, indicating a trend towards lower rates across the sector [2][7]. - Hengfeng Bank has also adjusted its deposit rates, with 1-year, 2-year, and 3-year rates now at 1.65%, 1.8%, and 2.15%, respectively, down from 1.8%, 1.95%, and 2.35% in February [4]. Group 2: Market Dynamics - The adjustments in deposit rates are attributed to several factors, including insufficient effective demand for credit, which pressures banks to manage their funding costs more effectively [8]. - The expectation of further monetary easing, including potential rate cuts, is influencing banks to adopt more proactive deposit pricing strategies [8]. - The competition among banks, particularly private banks, is intensifying as they seek to attract deposits while managing profitability, leading to varied responses in rate adjustments [10]. Group 3: Customer Impact - Customers are experiencing confusion due to the rapid and sometimes unexpected changes in deposit rates, with some high-yield products being quickly withdrawn from the market [3][4]. - Banks are advising customers to consider longer-term deposits to lock in current rates before further declines occur [6].

2025.04. 14 本文字数：2248，阅读时长大约5分钟 作者 | 第一财经 王方然 近日，股份制大行、中小银行开始陆续下调银行存款利率，中长期限存款利率降幅在10BP～50BP 不等。目前，多数银行的定期存款的利率普遍低于2%，迈向"1时代"。 第一财经记者注意到，本轮存款利率调降后，出现不少新趋势。存款利率下行、贷款利率上行后，原 本在市场中存在的存贷利率套利空间正在逐渐消失。此外，多家银行利率调降后，出现存款利率期限 倒挂，部分银行五年期存款利率不如一年期存款。 江西江州农商银行于4月9日起调整存款挂牌利率。调整后定存期限利率全线倒挂，1年期、3年期、5 年期存款利率分别为1.5%、1.48%、1.47%。 业内专家认为，银行密集调降存款利率一方面是为了压降负债端成本，缓解日益增加的息差压力；另 一方面，今年年初，中国人民银行多次提及"择机降息降准"， 银行下调存款利率也与宏观政策方向 相契合。 多家银行下调存款利率至2%以下 "上周我们存款利率刚下调过一轮，基本都低至2%以下了。"平安银行深圳某网点工作人员对记者表 示。该行"平安存"产品三年期定存年利率由2.05%下调至1.65%，下调40个基 ...

Core Viewpoint - Private banks and rural banks, once known for high deposit rates, are now actively abandoning high-interest deposit strategies as major banks lower deposit rates below 2% [1][2][3] Group 1: Deposit Rate Adjustments - Many banks have reduced their deposit rates to below 2%, with significant cuts observed in three-year and five-year deposit products [2][3] - For instance, Ping An Bank's three-year fixed deposit rate was lowered from 2.05% to 1.65%, a decrease of 40 basis points [2] - Rural banks like Xingning Zhujiang Village Bank have drastically cut their rates, with two-year, three-year, and five-year fixed deposit rates dropping to 1.50%, 1.60%, and 1.55% respectively [3] Group 2: Trends in Interest Rates - The current round of interest rate adjustments reveals two significant trends: rising consumer loan rates and the emergence of inverted deposit rate structures [4] - Consumer loan rates, which had previously been low, are now increasing, eliminating the arbitrage opportunities that existed between deposit and loan rates [4] - In some cases, banks are offering lower rates for longer-term deposits compared to shorter-term ones, indicating a shift in deposit strategies [4][5] Group 3: Underlying Reasons for Rate Cuts - The primary reason for banks lowering deposit rates is to reduce liability costs amid ongoing pressure on net interest margins [8][9] - As of Q4 2024, the average net interest margin for commercial banks was reported at 1.52%, a historical low, with listed banks averaging 1.65%, down 19 basis points from 2023 [8] - The People's Bank of China has indicated a potential for interest rate cuts and reserve requirement ratio reductions, aligning with the banks' strategies to lower deposit rates [9]

Core Viewpoint - Several banks have recently lowered deposit rates in response to external shocks and to stimulate domestic demand, with expectations for further reductions in the future [1][3][4]. Group 1: Deposit Rate Adjustments - Banks in regions such as Guangxi, Xinjiang, Guangdong, and Hubei have reduced rates on various deposit products, with the highest reduction reaching 40 basis points (BP) [1][2]. - Specific adjustments include Guangxi Xilin Rural Commercial Bank lowering its 2-year, 3-year, and 5-year fixed deposit rates by 25 BP, 45 BP, and 40 BP respectively, resulting in rates of 1.60%, 1.90%, and 1.95% [2]. - Other banks, such as Guangdong Nanao Rural Commercial Bank, have also made similar reductions, with the 1-year fixed deposit rate decreasing from 1.60% to 1.55% [2]. Group 2: Reasons for Rate Reductions - The primary reasons for the recent deposit rate cuts include the need to respond to external economic pressures and the expectation of monetary policy easing, such as reserve requirement ratio (RRR) cuts and interest rate reductions [3][4]. - Banks are adopting more flexible asset-liability management strategies to maintain net interest margins, which has led to a more refined approach to deposit pricing [3]. Group 3: Future Outlook - There is potential for further reductions in deposit rates, as the People's Bank of China has indicated a willingness to adjust rates based on economic conditions [4]. - The agricultural bank's vice president noted that the downward trend in deposit rates is expected to continue into 2025, influenced by factors such as the effectiveness of previous rate cuts and the overall decline in market interest rates [4][5]. - Different banks will implement more proactive and flexible deposit pricing strategies based on their market positions and asset-liability situations [5].

平安银行某存款产品3年期 利率4月8日起下调40 BP。记者从平安银行理财经理处获悉，该产品3年期存 款利率由2.05%降至1.65%。银行出手调降存款利率，平安银行并非个例。记者注意到，随着"开门 红"活动落下帷幕，4月以来，多地中小银行也对存款利率进行了不同幅度的调整。整体来看，不同期限 存款利率调整幅度在10BP至80BP，中长期限的降幅更大。 (每日经济新闻) ...