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7 CN Joint-Stock Commercial Banks Follow in Cutting RMB Deposit Rates
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Following the reduction of interest rates on RMB deposits by the six major state-owned banks in Mainland China yesterday (20th), seven joint-stock commercial banks have also followed suit today. These include Ping An Bank, CITIC BANK (00998.HK), Industrial Bank, Shanghai Pudong Development Bank, MINSHENG BANK (01988.HK), China Guangfa Bank, and Huaxia Bank. The 1-year and 2-year fixed deposit rates have been reduced by 15 bps. Including CM BANK (03968.HK) and CEB BANK (06818.HK), which had already lowered their rates earlier, a total of nine joint-stock commercial banks have now trimmed their posted deposit rates. AASTOCKS Financial News Website: www.aastocks.com |
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