Chen Liu, a senior financial lawyer, has served as a judge, lawyer, company executive and legal director. He has also served as a researcher at a number of financial research institutions, a visiting professor at many 211 and 985 key universities, and as a distinguished appointee of a number of financial training institutions. Expert, long-term focus on financial legal research and financial legal practice, compliance management, risk management, non-performing asset clearance, collection, financial consumer rights protection and other training.
days ago, Henan Huaibin Rural Commercial Bank announced that starting from December 12, it will gradually increase the interest rate of new personal lump sum time deposits, and the interest rate will be increased after the minimum deposit amount is greater than or equal to 10,000 yuan. Specifically, the interest rates for personal lump sum 1-year, 2-year, and 3-year time deposits have been raised from 1.80%, 2.00%, and 2.35% to 1.95%, 2.15%, and 2.40%. Among them, the one-year and two-year individual lump sum deposits were both raised by 15 basis points.
Many small and medium-sized banks, including Henan Gushi Rural Commercial Bank and Guilin National Rural Bank, have also recently raised some term deposit interest rates. experts said that as the end of the year approaches, some small and medium-sized banks have raised deposit interest rates to attract depositors. At the same time, they have also taken the initiative to take on debt, enhance their financial strength, and strive to "stabilize growth" from both supply and demand ends.
Many small and medium-sized banks have raised their deposit interest rates
"Now our bank's three-year regular interest rate has been raised to 3.15%." On December 15, a village bank account manager in Zhejiang told reporters.
Since this year, bank deposit interest rates have continued to adjust, and deposit interest rates have entered the "2" era. It has become an industry consensus to control deposit interest rates and reduce liability costs. However, recently, some rural banks, rural commercial banks, and city commercial banks have bucked the trend and raised deposit interest rates, with many bank deposit products exceeding 3%.
Reporters learned that from the end of the year to March next year, the 3-year time deposit interest rate of Haikou Sunan Rural Bank is 3.45%, and the 5-year time deposit interest rate is 3.65%. Currently, Shandong Weifang Bank's highest interest rate for three-year and five-year time deposits starting from RMB 50,000 can reach 3.2%, and the interest rate for three-year and five-year time deposits starting from RMB 10,000 can also reach 3.1%.
Industry experts said that this is a phased and temporary measure. Some small and medium-sized banks raised deposit interest rates, mainly due to their limited ability to attract deposits. They raised deposit interest rates to attract depositors and strive to achieve a "good start."
As early as November 1, Guangdong Heshan Zhujiang Rural Bank adjusted the one-year execution interest rate for lump sum deposits and withdrawals from 2.1% to 2.25%, an increase of 15 basis points; Guangxi Xing'an Minxing Rural Bank will, from November 21, The interest rates on the six-month and one-year “county area exclusive time” deposits were raised by 30 basis points and 15 basis points respectively.
"Local banks have relatively weak debt capabilities and high competitive pressure. They perform more aggressively at the end of the year. At the same time, the beginning of the year is often the peak period for credit extension. Preparing in advance can better lock in full-year returns." Zhou Maohua, a macro researcher at the Financial Market Department of China Everbright Bank, told "Financial Times reporter said.
In addition, different banks have lowered deposit interest rates to different extents and frequency. experts believe that it is not ruled out that small and medium-sized banks can dynamically adjust interest rates based on factors such as the economic situation, deposit costs, expected returns, etc., and differentially price different deposit products. "Currently, the country is promoting the market-oriented reform of deposit interest rates. On the premise of satisfying the self-regulatory mechanism, each bank will reasonably adjust the deposit interest rates based on the supply and demand situation in the regional deposit market and its own operating conditions." Zhou Maohua said.
The deposit interest rates of small and medium-sized banks have diverged.
Under the dual pressure of narrowing net interest margins and a "good start", the deposit interest rates of small and medium-sized banks have diverged, and some small and medium-sized banks have continued to lower deposit interest rates.
On December 12, Beihai Rural Credit Cooperative announced that starting from December 15, the listed interest rates for RMB time deposits with lump sums of 2, 3, and 5 years will be 2.4%, 2.75%, and 2.8%. Compared with the previous reductions of 15BP, 50BP, and 55BP respectively, the listed interest rates of other products remain unchanged.
Guang'an Hengfeng Rural Bank also recently issued an announcement that it will adjust the listed interest rates for RMB deposits starting from December 15. The interest rates for individual time deposits of 2, 3, and 5 years will be 2.60%, 3.25%, and 3.35 respectively. %, respectively lowered by 5BP, 5BP, and 10BP compared with the previous price.
"Deposit interest rates rise and fall, which reflects the functioning of the domestic deposit market mechanism and is a normal phenomenon." Zhou Maohua said, but the premise is that the domestic deposit market maintains a normal competitive order, and each bank's deposit interest rate adjustments must meet the requirements of self-regulatory organizations and deposit Interest rate adjustments must be consistent with actual operating conditions such as bank liabilities and net interest margins. Dong Ximiao, chief researcher of
Merchants United Finance, told a reporter from the Financial Times that the Central Economic Work Conference pointed out that "promoting social comprehensive financing costs to stabilize and decline." In this context, it is expected that in the next stage, as bank funding costs will decrease, It is more likely that deposit interest rates will fall. Small and medium-sized banks must rationally expand deposit business based on their own assets and liabilities. They must not only maintain appropriate growth in deposits, but also keep liability costs within a reasonable range.
Overall, experts believe that small and medium-sized banks need to improve the competitiveness of their products and services and accelerate digital transformation; speed up the improvement of internal governance and improve internal management levels; give full play to their geographical advantages, deeply explore the regional market and focus on their main businesses; and improve their operating standards , to better meet the diversified financial service needs of the regional market and promote a virtuous cycle of assets and liabilities.
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