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Multiple CN Small- and Medium-Sized Banks Withdraw Long-term Fixed Deposit Products
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Recently, multiple Chinese small- and medium-sized banks have been intensively adjusting their deposit products, according to Chinese media reports. Not only have these banks withdrawn 3-year and 5-year fixed deposit products, but some of them have also explicitly canceled 5-year fixed deposit products. At the same time, many Chinese banks have cut deposit interest rates across various terms. Interviewed sources revealed that the core purpose of these banks was to proactively optimize their liability structures and reduce liability costs. By reducing the scale and cost of medium- to long-term deposits, they can effectively alleviate operational pressure. AAStocks Financial News |
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