The pace of interest rate cuts for small and medium-sized banks has accelerated.

Since April, many city commercial banks and rural commercial banks have been intensively lowering deposit interest rates. Specifically, the adjustment of deposit interest rates covers mainstream types such as time deposits and notice deposits, with the extent of rate cuts ranging from a few to several tens of basis points, and the pace of rate cuts has significantly accelerated. In recent years, the deposit cost rate of regional small and medium-sized banks has been decreasing year by year, and the net interest margin is gradually stabilizing. Some banks' deposit cost rates for 2025 have already dropped to "1-digit", with further year-on-year declines. Many industry insiders analyze that the current net interest margin of the banking industry is at a historically low level, and future deposit interest rate adjustments may continue to follow a gradual and differentiated structure, with the interest rate center steadily moving downwards.