Core Viewpoint - A wave of interest rate cuts is occurring in China, with multiple banks reducing deposit rates to alleviate pressure on their liabilities, following a trend initiated by several small and medium-sized banks [1][5][6]. Summary by Category Deposit Rate Adjustments - Several banks, including regional and private banks, have announced reductions in deposit rates effective from late April to early May. For instance, a bank in Henan has adjusted its one-year, two-year, three-year, and five-year deposit rates to 1.8%, 1.8%, 2.05%, and 1.95%, respectively, down by 10 to 15 basis points from rates effective March 1 [1][2]. - Xinjiang Fuhai Rural Commercial Bank has lowered its one-year deposit rate from 1.75% to 1.7%, and its two-year rate from 1.95% to 1.8%, among other adjustments [2][4]. Market Trends and Predictions - The trend of interest rate cuts is driven by net interest margin pressures and a response to policy guidance and market expectations. Many banks are adapting to lower market interest rates to stabilize interest income and explore non-interest income sources [5][6]. - Analysts predict that deposit rates still have room for further reductions, with expectations that rates will align closely with policy rate declines. The market is observing a significant drop in government bond yields compared to policy rates, indicating potential for further decreases in asset yields [5][6]. Monetary Policy Implications - The recent statements from the political bureau regarding monetary policy suggest a shift towards more timely adjustments in reserve requirement ratios and interest rates, with expectations that deposit rates will be prioritized over Loan Prime Rate (LPR) adjustments [6][7]. - It is anticipated that the current round of deposit rate adjustments will begin with small and medium-sized banks, aiming to minimize the impact on larger banks while ensuring liquidity support for major bondholders [7].

类似情况并非个例，记者梳理发现，4月以来多家民营银行密集宣布下调存款利率，部分银行5年期存款 利率跌至2.5%以下，且长短期"倒挂"。此外，部分机构月内已进行了两至三次利率下调动作。 部分银行三年期、五年期利率"倒挂" 记者梳理发现，4月以来，多家民营银行密集下调存款利率，其中部分机构已进行了两至三次下调动 作。 例如，华瑞银行本月针对中长期限的存款利率已进行了三次调整。4月1日起，该行五年期存款利率由 2.7%调整至2.65%，随后在4月16日调整至2.55%，最新公告显示，4月28日起五年期存款利率将进一步 下调至2.4%。此外，该行三年期存款利率也在4月16日由2.7%下调至2.6%，并将在4月28日起进一步下 调至2.5%。最新调整后，该行三年期存款月内累计下调20BP，五年期月内累计下调30BP，三年期和五 年期利率出现"倒挂"。 每经记者 李玉雯 每经编辑 张益铭 4月27日，华瑞银行公告称，自次日起调整部分期限存款挂牌利率，其中整存整取三年期、五年期分别 调整为2.5%、2.4%，较此前分别下调10BP、15BP。记者注意到，本月以来，该行已三次调整存款利 率，调整集中在三年期及五年期的利率水平 ...

民营银行加速"降息"。 在此起彼伏的民营银行降息潮中，许久未出手的民营银行"一哥"微众银行终于现身了。 近日，微众银行公告，该行计划于4月29日起调整个人存款产品年利率，调整后，整存整取定期存款5年期、3年期、2年期、1年期的年利率均为1.60%；大 额存单3年期、2年期、1年期、6个月的年利率均为1.60%。 根据该行APP显示，此前整存整取定期存款5年期、3年期、2年期、1年期、6个月、3个月的年利率分别为2%、2%、2%、1.8%、1.60%和1.4%。 也就是说，微众银行5年期、3年期、2年期定期存款均下调了40BP（基点），1年期下调了20BP。 过往的民营银行存款利息调降，通常采用"小步快跑"的方式，即调降幅度小，但频次多。比如，今年以来，就有多家民营银行已两次下调了存款利率，但每 次仅下调10BP左右。 如此大幅调息的案例比较少，上一次下调40BP的还是众邦银行，该行自4月1日起，3年期大额存单利率从2.6%调降至2.4%，降幅20BP，5年期大额存单利率 从2.9%直降至2.5%，下调40BP。 微众银行此番降息之后，5年期存款利率已经开始逼近国有大行，部分期限存款利率甚至低于股份行。 6家国 ...

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].

不同类型银行利率差缩小 随着中小银行纷纷下调存款利率，曾经火热的存款跨省"搬家"现象将会显著减少。 4月15日，广西天等农商行发布利率调整公告显示，该行自4月16日起调整人民币存款挂牌利率，调整后 的一年期整存整取定期存款利率为1.5%，两年期为1.6%，三年期为2.00%，五年期为2.05%。 《中国经营报》记者注意到，近日广西壮族自治区内多家农商行发布利率调整公告，下调了定期存款产 品的利率，如天等农商行、蒙山农商行、扶绥农商行、巴马农商行等。 进入4月份以来，已有多家中小银行下调了存款利率。业内人士认为，以往中小银行在存款规模增长压 力下，在旺季营销期间推出一些高息存款的优惠活动，吸引用户存款跨省"搬家"。但目前区域银行存款 利率差收窄趋势明显，随着中小银行存款利率一降再降，未来将很难看到大规模的跨省存款现象。 近期，广西多家农商行调整存款利率，但调整后执行利率略有不同。 如巴马农商行4月15日的公告显示，根据中国人民银行的相关利率政策，其决定自2025年4月16日起调整 人民币存款挂牌利率。其中，一年期整存整取定期存款利率调整后为1.45%，二年期为1.55%，三年 期、五年期均为2%。 蒙山农商行自 ...

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].

Core Viewpoint - Ping An Bank has reduced the interest rate of a 3-year deposit product from 2.05% to 1.65%, effective from April 8, reflecting a broader trend among banks to lower deposit rates following the end of the "opening red" campaign [1] Group 1: Company Actions - Ping An Bank's 3-year deposit interest rate decreased by 40 basis points [1] - The adjustment in deposit rates is not isolated to Ping An Bank, as multiple small and medium-sized banks have also made similar changes [1] Group 2: Industry Trends - Since the beginning of April, various banks have adjusted their deposit rates by a range of 10 to 80 basis points, with larger reductions observed in medium to long-term deposit rates [1]