A new round of interest rate cuts for deposits is about to end its first month: small and medium-sized banks continue to follow suit, and some banks have made a second adjustment within the month. Is there still room for further cuts?

① In the context of market interest rate decline, banks are facing continuous pressure to narrow their net interest margin. Some banks have directly lowered deposit interest rates, while others have adjusted them in a phased manner. ② The phenomenon of inverted deposit interest rates is the result of the combined effects of macroeconomic conditions, bank operational strategies, policy guidance, and market expectations.

cls.cnAug 22 08:24 ET

Chinese Tech Giants Alibaba And Tencent Ramp Up AI Investments, With Nearly A Third Of Deals Since 2023 Aimed At AI Startups

BenzingaAug 21 05:52 ET

What is the reason for the year-on-year decrease in net profit of some private banks? The Financial Regulatory Bureau responded.

Liao Yuanyuan said that the net income growth rate of private banks has experienced negative growth. Mainly because these banks have significantly increased their provisions compared to the same period last year, which directly affects the current profits and leads to a temporary decline in net income of private banks.

cls.cnAug 21 04:23 ET

Tmall Beauty is sharpening its knife.

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wallstreetcnAug 20 07:10 ET

August LPR quote remaining unchanged meets market expectations. Industry experts predict that the main policy interest rate in the fourth quarter may be cut again, which will guide LPR to adjust accordingly.

Last month, the two LPR quotes for different maturity varieties were just lowered by 10 basis points respectively. In addition, the main policy interest rate of the central bank before this quote (7-day reverse repo rate) remained stable. Therefore, the unchanged LPR quotes for the two maturities in August are in line with market expectations.

cls.cnAug 19 22:57 ET

Adjustments are imminent! Many agency platforms are facing a wave of delisting for dozens of old products with a reserved interest rate of 3% on insurance products.

Ant Insurance, Huize and other insurance agency platforms have released reminders that nearly 30 insurance products with a 3% reservation rate will be taken off the shelves at the end of this month. Industry insiders have analyzed that after the reservation rate is lowered, the yield of savings-type products will decrease by approximately 14%, while premiums for guarantee-type insurance such as critical illness insurance are expected to increase by 20%.

cls.cnAug 19 10:18 ET