Five Chinese state -owned banks announced on Thursday (June 8) that the decline in RMB deposit interest rates was reduced. The first collective low interest rate of the state -owned bank was in September last year.
Comprehensive financial and surging news reports, Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, Construction Bank, and Bank of Communications have successively updated the latest deposit interest rates on official channels.Solving, the decline of regular deposits in the medium and long term is greater.
ICBC's official website shows that the bank has lowered the interest rate of RMB on June 8 from 0.25%to 0.2%;To 2.05%, 2.45%, and 2.5%, the previous 2.15%, 2.6%, and 2.65%, respectively.
The interest rate of RMB deposit deposit of Agricultural Bank of China, Construction Bank, Bank of China and Bank of Communications has also been reduced to 0.2%.In terms of regular deposits, the annual interest rates of three months, six months, one year, two years, and five years are 1.25%, 1.45%, 1.65%, 2.05%, 2.45%, 2.50%;In terms of collection, rectification, and deposit, the first year, three -year, and five -year periods are 1.25%, 1.45%, and 1.45%, respectively.
Since the beginning of this year, regular and long -term characteristics of bank deposit structures have continued.According to the data of the People's Bank of China, as of the end of April, the regular and other deposits in personal deposits accounted for 71%, an increase of nearly 3 percentage points from the end of 2022; the regular and other deposits in corporate deposits accounted for nearly 68%, which is from 2022, which is from 2022, which is compared with 2022At the end of the year, it increased by nearly 2 percentage points.
Wang Yifeng, chief analyst of the Everbright Securities Banking industry, said that since the beginning of 2023, Chinese residential consumption and corporate investment are low, and the demand for currency tradingability is still weak.Regular characteristics.As of the end of April, China's regular deposits accounted for 53.2%of domestic deposits, an increase of 2.1 percentage points from the beginning of the year.Especially for head banks, due to the higher proportion of core liabilities, it is even more obvious that the regularization of deposits is dragged down.
CICC believes that after the interest rate cut, the average interest rate of deposits in the next one to two years will still have about 20 basis points of interest rate cuts (excluding this interest rate cut). The main logic is based on bank loan since 2020 since 2020The interest rate has declined more than 2017 lows, and the deposit interest rate is basically flat in 2020, and it is still higher than the level of about 40 basis points in 2017. About 15 basis points are the impact of regular deposits, and 25 basis points are caused by the upsurge of deposit interest rates.
