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]

Core Viewpoint - A wave of deposit interest rate cuts has emerged, with several small and medium-sized banks announcing reductions in fixed deposit rates, reflecting the pressure on net interest margins in the banking sector [1] Group 1: Interest Rate Adjustments - Starting from April 8, Ping An Bank reduced the interest rate on a three-year deposit product from 2.05% to 1.65%, a decrease of 40 basis points [1] - Various small and medium-sized banks have adjusted their deposit rates in early April, with reductions ranging from 10 basis points to 80 basis points, indicating a more significant decline in longer-term deposit rates [1] Group 2: Factors Influencing Rate Cuts - The adjustments in deposit rates are influenced by multiple factors, including low market interest rates, expectations of policy interest rate changes, and the need for banks to control funding costs [1] - Analysts suggest that there remains room for further reductions in deposit rates due to these ongoing pressures in the banking sector [1]