Core Viewpoint - Blue Ocean Bank has marked all its deposit products as "sold out" during the year-end deposit gathering season, which is an unusual move that has attracted market attention [1][8]. Summary by Sections Deposit Products Status - All deposit products, including various term deposits such as 7-day notice deposits and 3-month, 6-month fixed deposits, are currently showing a "sold out" status on Blue Ocean Bank's mobile banking app [1][3]. - The bank's signature deposit product, "Blue Baby," which offers terms ranging from 3 months to 5 years, is also marked as "sold out" [3]. Interest Rates and Adjustments - The interest rates for the "Blue Baby" products are as follows: 1.35% for 3-month, 1.45% for 6-month, 1.65% for 1-year, 1.85% for 2-year, and 2.00% for 3-year deposits [4]. - Blue Ocean Bank has frequently lowered its deposit rates, with eight rate cuts in the first half of the year alone. For instance, on November 1, the bank announced a rate adjustment for several products, reducing rates to 1.25% [6]. Financial Performance - Blue Ocean Bank is facing a dual challenge of declining revenue and net profit, with reported figures showing a revenue of 1.452 billion yuan, down 39.42% year-on-year, and a net profit of 415 million yuan, down 47.86% [8]. - The bank's net interest margin has decreased to 2.35%, a drop of 1.99 percentage points compared to the previous year [8]. Industry Trends - The move by Blue Ocean Bank is not isolated; several other small and private banks are also withdrawing medium- to long-term deposit products, indicating a broader trend in the banking sector [9][10]. - Analysts suggest that the withdrawal of these products is a response to the pressure on net interest margins and the need to control high-cost liabilities in a challenging economic environment [10].

Core Viewpoint - The popularity of Labubu, an IP under Pop Mart, has led to a surge in demand, prompting banks to offer promotional activities involving Labubu blind boxes as incentives for deposits, although such marketing strategies have faced regulatory scrutiny and subsequent bans [1][2][4]. Group 1: Marketing Activities - Several branches of Ping An Bank in cities like Xi'an, Shijiazhuang, and Wuhan launched a promotion where new customers could receive Labubu blind boxes by depositing at least 50,000 yuan for a minimum of three to six months [1]. - The promotional strategy aimed to attract more customers amid declining deposit rates and increased competition among banks [1][5]. Group 2: Regulatory Environment - Financial regulatory authorities in the Yangtze River Delta region reiterated a ban on banks using physical gifts or collaborations with internet platforms to attract deposits, requiring immediate cessation of such activities [2]. - The 2018 regulation explicitly prohibits banks from using improper means, such as cash returns or physical gifts, to attract deposits, with multiple banks having faced penalties for violating these rules [4]. Group 3: Financial Implications - The effective cost of the Labubu promotion, when calculated, suggests that the annualized interest rate for a three-month deposit of 50,000 yuan could reach approximately 2.27%, exceeding the typical rates of 1% to 1.5% offered by banks [4][5]. - Concerns have been raised that if banks continue to use such promotional tactics, it could lead to a "gift competition" that raises overall deposit costs and disrupts healthy competition based on service quality [5]. Group 4: Recommendations for Banks - Experts suggest that banks should focus on enhancing service quality and product offerings rather than relying on gift promotions to attract deposits, which could increase non-interest expenses and hidden liabilities [5][6]. - There is a call for banks, especially smaller ones, to shift their operational strategies away from merely pursuing deposit growth towards better asset-liability management and sustainable development [6].