Core Viewpoint - The recent adjustments in deposit interest rates by small and medium-sized banks indicate a shift from uniform rate cuts to more differentiated and flexible management strategies based on individual bank conditions [1][4][5] Group 1: Interest Rate Adjustments - As of January 5, 2023, the three-year fixed deposit product with an interest rate of 2.2% was officially withdrawn, and all deposit products saw a decrease of 20 basis points [1] - Various small and medium-sized banks, including Suzhou Commercial Bank and others, have announced adjustments to their deposit rates, with some rates being cut by as much as 30 basis points [2] - Specific banks like Puyang Zhongyuan Village Bank have adjusted their rates for different terms, with three-month, six-month, and two-year deposits down by 30 basis points, while one-year and five-year rates were reduced by 25 and 20 basis points respectively [2] Group 2: Contrasting Rate Increases - In contrast to the general trend of rate cuts, some banks have increased their deposit rates to attract customers, such as Wuding Xingfu Village Bank, which raised rates for various terms by 5 to 10 basis points [3] - Other banks, like Shanxi Hunyuan Rural Commercial Bank, have introduced large-denomination certificates of deposit with rates higher than their standard offerings, indicating a competitive strategy to attract deposits [3] Group 3: Strategic Management Approaches - The current trend of differentiated interest rate adjustments reflects a more refined asset-liability management approach among regional banks, moving away from a one-size-fits-all strategy [4][5] - Analysts suggest that the varying strategies in deposit rate adjustments are influenced by each bank's asset-liability structure, competitive positioning in regional markets, and the need to balance deposit pressure and customer retention [5]

Core Viewpoint - The recent adjustments in deposit rates by small and medium-sized banks indicate a shift from a uniform rate cut to a more nuanced approach, with some banks lowering rates while others are increasing them, reflecting a trend towards differentiated and strategic management of liabilities [1][4][5] Group 1: Rate Adjustments - On January 5, Suzhou Commercial Bank officially lowered its three-year fixed deposit rate from 2.2% to 1.9%, with all fixed deposit rates decreasing by 20 basis points [1][6] - Other banks, such as Puyang Zhongyuan Village Bank and Xuwen Rural Commercial Bank, have also announced rate cuts, with some rates dropping by 30 basis points for various terms [2][7] - The trend of rate adjustments is not uniform; for instance, Xuwen Rural Commercial Bank maintained rates for certain terms while reducing others by 5 basis points [2][7] Group 2: Banks Increasing Rates - In contrast to the general trend of rate cuts, some banks like Wuding Xingfu Village Bank have increased their deposit rates, with one-year and two-year rates rising by 10 basis points [3][8] - Shannan Rural Commercial Bank is offering temporary rate increases for deposits made before March 31, with rates for various terms up by 15 to 14 basis points [3][8] - Biyang Rural Commercial Bank has launched a promotional period with higher rates for one-year, two-year, and three-year deposits, reaching up to 1.73% [3][8] Group 3: Strategic Management of Liabilities - The beginning of the year is critical for banks to attract deposits, leading some smaller banks to temporarily raise rates to appeal to yield-sensitive customers [4][10] - Analysts suggest that the current mixed rate adjustment strategy reflects the pressures of net interest margins and competitive deposit acquisition, indicating a shift towards more refined asset-liability management [5][10] - The differentiation in rate adjustments among banks is influenced by their individual asset-liability structures and competitive positioning in regional markets [5][10]

Core Viewpoint - The recent adjustments in deposit interest rates by small and medium-sized banks indicate a trend towards more flexible and differentiated management of liabilities, moving away from uniform rate cuts to tailored strategies based on individual bank conditions [1][3]. Group 1: Interest Rate Adjustments - As of January 5, 2023, the three-year fixed deposit product with an interest rate of 2.2% was officially withdrawn, and all deposit products saw a decrease of 20 basis points [1]. - Various small and medium-sized banks, including Suzhou Commercial Bank and others, have recently announced adjustments to their deposit interest rates, with some rates being cut by as much as 30 basis points [1][2]. - For example, Puyang Zhongyuan Village Bank reduced its three-month, six-month, and two-year deposit rates by 30 basis points, while the one-year and five-year rates were lowered by 25 and 20 basis points, respectively [1]. Group 2: Divergent Rate Trends - In contrast to the general trend of rate cuts, some banks have begun to increase their deposit rates to attract customers, such as Wuding Xingfu Village Bank, which raised its one-year and two-year rates by 10 basis points [2]. - Shannan Rural Commercial Bank announced a promotional period until March 31, during which certain deposit rates would be increased by 15 to 14 basis points [2]. - Biyang Rural Commercial Bank launched a limited-time promotion with higher rates for one-year, two-year, and three-year deposits, reaching 1.41%, 1.43%, and 1.73%, respectively [2]. Group 3: Strategic Management of Liabilities - The beginning of the year is a critical period for banks to attract deposits, and smaller banks are using temporary rate increases to gain market share and create competitive advantages [3]. - The overall trend of declining deposit rates remains, but the likelihood of uniform cuts is decreasing as banks adopt more nuanced strategies based on their operational conditions [3]. - Analysts suggest that the current mixed rate adjustment landscape reflects a strategic choice by smaller banks facing pressure on net interest margins and heightened competition for deposits [3].

Core Viewpoint - The recent adjustments in deposit interest rates by several small and medium-sized banks indicate a shift towards differentiated and phased rate changes, moving away from the previous trend of uniform rate cuts [1][4]. Group 1: Interest Rate Adjustments - On January 5, 2023, the three-year deposit product with an interest rate of 2.2% was officially withdrawn, and all fixed deposit rates were reduced by 20 basis points [1]. - Various small and medium-sized banks, including Suzhou Commercial Bank and others, have announced adjustments to their deposit rates, with some banks lowering rates while others are increasing them [2][3]. - For instance, Puyang Zhongyuan Village Bank reduced its three-month, six-month, and two-year deposit rates by 30 basis points, while the three-year rate remained unchanged [2]. Group 2: Competitive Strategies - Some banks are adopting a strategy of increasing deposit rates to attract customers, with Wu Ding Xingfu Village Bank raising its one-year and two-year rates by 10 basis points [2]. - The trend of differentiated adjustments reflects a strategic choice by small and medium-sized banks to manage their liabilities more effectively amid competitive pressures and high funding costs [4]. - Analysts suggest that the current mixed adjustment pattern is a response to the ongoing pressure on net interest margins and the need for banks to attract depositors sensitive to interest rates [4].

Core Insights - The banking sector is intensifying its deposit marketing activities as the year-end approaches, with a focus on refined strategies to attract deposits amid declining interest rates and changes in the market [1][4] - Smaller banks are adopting differentiated deposit products with varying minimum deposit thresholds and interest rates, reflecting a more nuanced approach to customer segmentation [1][4] Group 1: Deposit Strategies - Banks are utilizing traditional methods such as raising interest rates, issuing large-denomination certificates of deposit, and offering points for deposits, while also implementing more detailed minimum deposit requirements and conditions for interest rate increases [1][4] - For example, Hangzhou Bank has introduced a tiered deposit product with minimum purchase amounts of 50,000, 200,000, and 500,000 yuan, corresponding to interest rates of 1.65%, 1.75%, and 1.8% respectively [2] - Inner Mongolia Rural Commercial Bank has launched a deposit product with minimum thresholds of 100 yuan and 200,000 yuan, offering varying interest rates based on the type of account [2][3] Group 2: Interest Rate Trends - The overall increase in deposit interest rates is more restrained compared to previous years, with most banks raising rates by only 5 to 15 basis points, contrasting with the 30 to 50 basis points seen in prior years [5][6] - The net interest margin pressure is prompting banks to manage deposit costs more effectively, focusing on optimizing the structure of deposits and expanding low-cost core deposits [6][8] - The net interest margin for commercial banks was reported at 1.42% in Q3, with large banks at 1.31% and rural commercial banks at 1.58%, indicating a stable but low margin environment [6][7] Group 3: Future Outlook - Analysts predict that 2026 may see a stabilization and potential recovery of net interest margins, driven by improved costs of interest-bearing liabilities and a more balanced reduction in both asset and liability rates [7][8] - The banking sector is expected to continue refining its marketing strategies to attract deposits, particularly targeting high-net-worth individuals and optimizing customer segmentation to enhance profitability [4][8]

Group 1 - The core message is that major state-owned banks, including Industrial and Agricultural Banks, have introduced high-denomination large certificates of deposit (CDs) with varying minimum deposit requirements, while maintaining the same interest rate of 1.55% for both high and low minimum deposits [1][2][4] - Industrial Bank offers two types of three-year large CDs: one with a minimum deposit of 1 million yuan and another with a minimum of 200,000 yuan, both having the same interest rate of 1.55% [1] - Agricultural Bank also provides two options for three-year large CDs, with minimum deposits of 5 million yuan and 20,000 yuan, respectively, and the same interest rate of 1.55% [2] Group 2 - The introduction of high-denomination large CDs by state-owned banks is a market behavior aimed at precise customer segmentation and refined liability management, which complies with regulatory requirements [4] - The minimum subscription amount for personal large CDs is set at no less than 20,000 yuan, with no upper limit, allowing banks to set higher thresholds for certain products [4] - The main advantages of large CDs over regular deposits include higher liquidity and flexibility, such as transferability and pledge options, which should be considered by depositors based on their financial planning [4]