隨著銀行“開門紅”活動落下帷幕，一場銀行吸儲“減負”的大戲正在上演。4月7日，北京商報記者調查發現，近段時間，地方中小銀行、民營銀行存款以及大額存單利率下調進程明顯提速，下調幅度最高達40個基點。不過，儘管銀行下調動作不斷，但近年來受居民風險偏好下降、理財基金等投資管道收益欠佳等多種因素影響，儲戶存儲長期存款的意願依舊強烈。從已公佈2024年年報的A股上市銀行數據來看，存款定期化趨勢依舊不減，銀行負債管理面臨挑戰。

When the product interest rate reduction is in progress

進入4月，銀行存款利率調整呈現“加速跑”的態勢。4月7日，北京商報記者調查發現，已有多家銀行下調了存款、大額存單產品利率。

“4月7日，存款利率正式調整”，北京商報記者從吉林銀行瀋陽地區一位客戶經理處瞭解到，清明節假期前，吉林銀行面向省外客戶推出的專屬“吉享存A款”產品，一年期存款年利率為2%，兩年期為2.3%。而如今，一年期年利率已降至1.95%，兩年期降至2.05%，三年期存款利率暫未調整，仍維持在2.4%水準。

“三年期存款還有額度，未接到利率下調的通知，需要來櫃面存款”，上述客戶經理說道。從起存金額來看，該行一年期、兩年期存款1萬元起存，三年期存款10萬元起存，儲戶需要存入新資金。

On 10/0, Liaoshen Bank implemented the latest RMB deposit interest rates, of which the one-year, two-year, three-year, and five-year time deposit interest rates were 0.0%, 0%, 0.0%, and 0.0%, respectively, and were reduced by 0 basis points, 0 basis points, 0 basis points, and 0 basis points.

Earlier, private banks have ushered in a wave of "interest rate cuts", Zhongbang Bank issued an announcement that it will adjust the interest rates of 40-year and 0-year large-amount certificates of deposit from 0 on 0 respectively. It is understood that the bank's interest rate on 0-year large-denomination certificates of deposit was lowered from 0.0% to 0.0%, a decrease of 0 basis points; The interest rate on 0-year CDs was lowered by 0 basis points from 0.0% to 0.0%.

新安銀行在4月4日對手機銀行、小程式、公眾號在售的二年期和三年期儲蓄存款產品利率進行調整，分別由之前的2.80%下調至2.65%、2.6%。加上此次，年初至今，新安銀行已三次對相關存款利率產品進行下調，1月9日首次調整後，該行三年期定期存款利率為2.9%。在調查過程中，也有股份制銀行客戶經理直言，“4月大額存單下調成為大概率事件，想要存入的抓緊預約額度購買產品，目前我行三年期大額存單利率為2.15%”。

Talking about the reasons for the reduction of deposit interest rates, Wang Jianhui, a senior researcher of industrial economics, pointed out that on the one hand, it is because of the "good start" end, and the interest rate reduction is a strategy for banks to take the initiative to adjust the cost of debt; On the other hand, small and medium-sized banks account for a large proportion of high-cost deposits, and in order to alleviate the pressure on net interest margins, they have lowered deposit interest rates to reduce the cost of liabilities and stabilize profits.

The trend of regularization of deposits continues unabated

Although interest rates have fallen again and again, in recent years, due to the decline in residents' risk appetite, they are more inclined to products with guaranteed principal and interest, and the poor returns of investment channels such as wealth management and funds have led to the return of funds.

An in-depth analysis of the A-share listed banks that have published 3-year annual reports can see the reasons for this. Among the large state-owned banks, ICBC's fixed deposits increased by 0.0 billion yuan, a year-on-year increase of 0.0 percent, and demand deposits increased by 0.0 million yuan, but a year-on-year increase of 0.0 percent, which was not as fast as the growth rate of time deposits.

The same situation existed in China Construction Bank, as of the end of 34 year, the bank's domestic fixed deposits were 0.0 trillion yuan, an increase of 0.0% over the previous year; Domestic demand deposits were 0.0 trillion yuan, an increase of 0.0% over the previous year.

Bank of Communications mentioned in its annual report that customer deposits are the bank's main source of funds, and from the perspective of term structure, as of the end of 08 years, the bank's demand deposits accounted for 0.0%, down 0.0 percentage points from the end of the previous year, and time deposits accounted for 0.0%, up 0.0 percentage points from the end of the previous year.

在股份制銀行中，利率越降、定期越多的現象也不少見。招商銀行零售客戶活期存款日均餘額占零售客戶存款日均餘額的比例為48.32%，同比下降8.42個百分點。該行表示，受客戶風險偏好下降、企業資金活化不足影響，客戶投資定期存款產品需求高企，活期佔比有所下降。定期存款方面，截至2024年末，該行零售客戶定期存款佔比由上年的20.42%提升至22.57%。浙商銀行也如此，從期限結構上看，該行定期存款增加2572.60億元，增長22.74%；活期存款減少2061.47億元，下降29.22%。

Fixed deposits have become a "safe haven" for risk-averse investors due to their rigid payment characteristics, but the unabated trend of fixed deposits also poses challenges to banks' liability management.

在2024年業績發佈會上，招商銀行副行長彭家文指出，定期存款佔比一直在上升是這幾年以來一直在延續的趨勢。去年9月底一些政策出台之後，對於銀行的活期存款佔比帶來了一些變化。去年9月底，招商銀行的活期存款佔比降到了48%，到了年底是52%，有一個明顯的反彈，但是到跨年之後，活期存款時點的增量其實是有所下降的。基於這一點現在還不敢得出定期化的趨勢出現拐點的結論。

"When evaluating the operating results of branches, the scale of high-cost, medium- and long-term fixed general deposits should be discounted, and the discount is very low, indicating that SPD Bank does not encourage and support this area." Xie Wei, President of Shanghai Pudong Development Bank, said bluntly that on the liability side, Shanghai Pudong Development Bank has established an evaluation system for full-caliber liability control. Through the use of tools such as interest rate approval and authorization management, the scale of high-cost, medium- and long-term fixed general deposits is strictly controlled.

Xue Hongyan, a special researcher at Sushang Bank, pointed out that in recent years, in order to better support the real economy, the LPR (loan market prime rate) has continued to fall, and the weighted average interest rate of general loans of financial institutions has continued to decline. During this period, although the listed interest rate of deposits was also reduced, the proportion of fixed deposits gradually increased in the context of fixed-term deposits, and the decline in the cost of bank liabilities was lower than the decline in loan interest rates, which continued to squeeze the level of net interest margin, resulting in a decline in interest margins. In order to maintain a stable interest rate spread, banks need to optimize the deposit structure and increase the proportion of demand deposits.

Debt cost optimization for the exam

In the context of continuous changes in the market interest rate environment, strict control of the scale of high-cost deposits has become the core task of the banking industry. From the perspective of capital management, the interest expense of high-cost deposits will reduce retained earnings and weaken the ability of endogenous capital replenishment. From a business perspective, if high-cost deposits are allowed to grow, banks will fall into a cycle of narrowing spreads and lower profits.

為吸儲“減負”，多位銀行管理層也提到了嚴格管控高成本存款規模的重要性。建設銀行行長張毅強調，2025年建設銀行將主動適應低利率環境，未來將採取包括提升零售信貸、高價值存款和非息收入佔比等措施，同時深化成本管控，穩定資本回報。

Liu Jianjun, President of the Postal Savings Bank, stressed that he would adhere to the basic assessment caliber of "value deposits", improve operating efficiency by expanding the customer base and expanding self-operated deposits, and at the same time, continue to do a good job in payment and settlement, customer binding and other work through refined liability management strategies to stabilize demand deposits.

Xie Wei pointed out that "through the application of digital and intelligent technology, we will build multiple scenarios and platforms to increase the retention of settlement deposits and promote the downward trend of the interest payment rate of deposit liabilities." From the perspective of liquidity management tools, interbank liabilities are used as liquidity control tools to control the term and structure, and the liquidity monitoring indicators are completed. At the same time, through peer collaboration, optimize the proportion of current accounts in the same industry."

"In order to optimize the asset-liability structure, banks can make efforts from many aspects", Wang Jianhui further pointed out that on the deposit side, for individual customers, the launch of innovative savings products, such as structured deposits linked to specific projects, such products can not only meet the diversified needs of depositors for income, but also through the reasonable design of the term structure, to match the bank's capital use needs. At the same time, it uses advanced financial technology to build an accurate asset-liability forecasting model, monitor market interest rate changes and capital flows in real time, flexibly adjust the deposit interest rate pricing strategy and loan issuance rhythm, and achieve a dynamic balance between assets and liabilities in multiple dimensions such as maturity and interest rate.

"On the loan side, for medium and long-term project loans, it is necessary to conduct a detailed project evaluation to ensure that the loan term is consistent with the cycle of the project's cash flow, so as to avoid the mismatch of the term due to the delay in capital recovery caused by the long loan term. At the same time, the proportion of short-term loans should be appropriately increased, especially for small and micro enterprises with flexible operating turnover and fast capital return and individual operating loans, so as to make the term structure of the asset side more balanced. Wang Jianhui said.

Beijing Business Daily reporter Song Yitong