In April, more than half of private banks will cut interest rates for 3-year and 5-year deposits, which is the focus of the reduction

April 16th news, into late April, another batch of private banks are about to cut deposit interest rates. According to statistics, after the end of the "good start", small and medium-sized banks have intensively cut deposit listing rates or cancelled preferential interest rates this month, and private banks have taken the lead. In the past half month, 10 private banks have officially announced interest rate cuts. Among them, some private banks have cut interest rates twice in the month, and this round of interest rate cuts mainly fell on medium and long-term time deposits of 3 years and 5 years. Dong Ximiao, chief researcher at Zhaolian and deputy director of the Shanghai Finance and Development Laboratory, said in an interview with reporters that private banks have relatively weak deposit-absorbing capabilities. In the past, they generally used higher interest rates to attract customers, so there is relatively more room for interest rate cuts. "Lowering deposit interest rates and lowering debt costs will help private banks maintain basically stable interest rate spreads and enhance their stable development capabilities," he said.