defigamingcrypto| China Merchants Bank and many others have taken action: 3-year and 5-year large deposit certificates products have been removed from the shelves!

SourceDefigamingcryptoChina fund newspaper reporter: Ma Jiaxin

Original title: too sudden! A number of banks stepped in: get off the shelves!

Recently, a number of banks have sold large certificates of deposit for three and five years.DefigamingcryptoYes!

It is reported that China Merchants Bank, currently the "king of retail", has taken the lead in removing three-year and five-year certificates of deposit from the bank APP; at the same time, many banks, such as Pudong Development Bank and Industrial Bank, have said that the quota of three-year certificates of deposit has been sold out; in addition, although some bank APP pages can still find relevant products, but also made restrictions on the purchase conditions of large certificates of deposit.

In the view of the market, the main reason behind the current "downtrend" of medium-and long-term large certificates of deposit is that the bank net interest margin continues to be under pressure. At the same time, looking to the future, banks still have the incentive to actively optimize the debt structure and control the issuance of some high-interest deposit products at a lower level.

There is no trace of the 5-year certificate of deposit

Recently, there is market news that China Merchants Bank has stopped offering two large certificates of deposit products with a period of 3 years and 5 years. The reporter looked up the bank's APP page and found that the above two products have indeed disappeared.

Judging from the current "best-selling products" that China Merchants Bank can provide, there are only large certificates of deposit with a maturity of less than 2 years, and the deposit interest rate is all at 2%.DefigamingcryptoBelow 15% annualized interest rate. Last year, China Merchants Bank's three-year large deposit interest rate reached an annualized 2.Defigamingcrypto.9%.

At the same time, the reporter also noted that at present, if you want to buy a 3-year certificate of deposit, you can only buy it in the bank's APP "transfer zone", but the amount is very limited and needs to be snapped up. From the point of view of the interest rate of the transferred products, the annualized interest rate of the certificate of deposit with a remaining term of about 2 years and 2 months and an amount of 3 million yuan is 2.26%. There is no sign of the transfer of 5-year certificates of deposit.

The account manager of China Merchants Bank said that the bank has suspended the quota of three-year and five-year large certificate of deposit products.

A number of banks have also tightened their business of large certificates of deposit. For example, the current APP page of Pudong Development Bank does not show a 3-year or 5-year large certificate of deposit, leaving only a large certificate of deposit with a starting investment of 500000 yuan and a 1-year interest rate of 2% per year.

At the same time, although Ping an Bank's APP page has a 3-year certificate of deposit product, but the amount is shown as "sold out", there is also no 5-year large certificate of deposit. In addition, there are Agricultural Bank, Industrial Bank, Minsheng Bank and other banks that show "sold out" three-year certificates of deposit, and the above-mentioned banks also do not have the option to buy five-year related products.

In the CCB APP "large certificate of deposit" section, although the bank provides 3-year large certificate of deposit products with an initial deposit of 200000 yuan and an annualized interest rate of 2.35%, there are conditions, such as the need to issue wages for customers.

The deposit interest rate still has the impetus to lower.

In the view of most market participants, banks have removed large certificates of deposit with medium and long term mainly because of the continued pressure on bank net interest margin in recent years. In particular, the current willingness of customers to deposit is still strong, although the bank liquidity is relatively abundant, but in the case of relatively weak asset-side investment, the high-cost medium-and long-term time deposits or certificates of deposit pressure reduction is conducive to the management of net interest margin.

This is also reflected in the financial statements of most banks. Specifically, in the 2023 annual report, the net interest margin of China Merchants Bank was 2.15%, down 25 basis points from the previous year. The net interest margins of Industrial and Commercial Bank of China, Construction Bank, Agricultural Bank, Bank of China, Bank of Communications and Postal savings Bank also decreased by 31, 31, 30, 16, 20 and 19 basis points respectively compared with the previous year.

Recently, a number of listed bank executives also revealed at the performance conference that they will optimize the asset-liability structure. For example, Zhang Yi, vice president of the Bank of China, said that looking ahead to 2024, the net interest margin will still be under great pressure. On the debt side, the bank will continue to push down debt costs and increase the share of low-cost settlement funds. At the same time, the pressure on high-cost deposits has been stepped up, including agreed deposits, structured deposits, large certificates of deposit for more than three years, and so on.

Minsheng Bank Vice President and Secretary Li Bin also said at the performance conference that the overall deposit cost is relatively high at present, and efforts should be made to broaden low-cost and stable sources of funds.

In the view of most experts, reducing the size of high-interest deposits and continuing to lower deposit rates will remain the "main theme" for the banking industry this year. Zhou Maohua, a researcher at the Macro Group of the Financial Markets Department of Everbright, pointed out: "as long as the current debt cost and net interest margin pressure of banks are not reduced, banks still have the incentive to actively optimize their debt structure, and the issuance of some high-interest deposit products will be controlled at a relatively low level."

In addition, Liu Chengxiang, an open source securities analyst, expects banks to take the initiative to adjust their structure to shorten the duration of deposits and reduce the proportion of high-priced deposits. "since 2023, small and medium-sized banks have continued to reduce the size of structured deposits. in addition, the spread between large certificates of deposit and time deposits of the same maturity has gradually narrowed, and banks' preference for high-priced deposits has been declining."

Tags:

Prev: harmonyonenftgames| SMIC will expand its production against the market and focus on its main business, with capital expenditures of approximately US$7.5 billion in 2024
Next: scratchmusic|逆市上扬！2024年新能源汽车尼龙管路市场收入预计飙升至12.33亿元，创新高峰来临！