Several village and town banks have recently announced that they will lower deposit interest rates, with the decrease ranging from 10 to 20 basis points.

According to reporters' analysis, recently, many village banks in Zhejiang, Guizhou, Jilin, and other places have announced a reduction in deposit interest rates, with the reduction ranging from 10 to 20 basis points. In contrast, many banks have recently launched large-denomination deposit products with an annual interest rate of over 2%, attracting market attention. Industry insiders pointed out that this round of deposit rate cuts mainly target small and medium-sized banks. Faced with the trend of declining net interest margins, small and medium-sized banks are actively controlling the cost of liabilities by adjusting deposit rates to stabilize interest margins. In the future, the trend of lowering deposit rates will continue. In this context, small and medium-sized banks should accelerate their thinking on how to reduce their reliance on high-interest deposits, create a differentiated product and service system, and enhance competitiveness.