Financials May 23, 2022 02:17 AM (GMT+8) · EqualOcean
After state-owned banks and some joint-stock banks lowered the interest rates of time deposits with a term of more than one year and large certificates of deposit, a number of small and medium-sized banks have also followed up recently. On May 22, the reporter's investigation found that bank of Ningbo, Bank of Suzhou, Suzhou rural commercial bank, Bank of Hangzhou and Zhangjiagang rural commercial bank have made a sound one after another, and will adjust the deposit interest rate price in combination with the market situation. At present, some of the above-mentioned banks have taken actions to reduce the time deposit interest rate, and the interest rate of deposit products of some banks with a term of 3-5 years has been reduced by 10-25 basis points. In the view of analysts, the decline of deposit interest rate is conducive to reducing the cost of liabilities and improving the interest margin. It is expected that more small and medium-sized banks will reduce deposit interest rate in the future, but on the whole, the downward range of interest rate is expected to be limited.

This text is a result of machine translation.