Several of China’s small and midsize banks have cut interest rates on five-year time deposits to protect their profit margins as expectations grow for a continued decline in lending rates.
 

Meizhou Hakka County Bank Co. Ltd. in Guangdong province, for example, on March 1 cut its rate on five-year time deposits to 2.5% from 2.7%, according to announcements on the bank’s website.
 

多家中小银行宣布下调存款利率下调幅度从10个基点至60个基点不等

光大银行金融市场部宏观研究员周茂华表示，近期中小银行下调存款利率属于去年第三轮商业银行存款利率调降的延续。国内采取大中小型银行“梯次”调降存款利率，让市场充分消化存款利率调降影响，有助于维护存款市场正常竞争秩序。“当前我国银行净息差处于低水平，近期五年期LPR下调幅度超预期，进一步增加了银行净息差下行压力，在这种情况下，中小银行调降存款利率以稳定净息差。”中国邮政储蓄银行研究员娄飞鹏表示。因此，在LPR下调后，部分商业银行进一步下调存款利率，以保持合理净息差水平，维持一定利润空间，有利于防范风险。

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