In this regard, analysts said that small and medium-sized banks are in the economic downturn cycle and the market-oriented environment of interest rates. In addition, the impact of the epidemic on offline outlets in the first half of the year has put greater pressure on survival and greater demand for reserve than in previous years. At the same time, some research reports have pointed out that the upward pressure on the cost of liabilities side of the banking industry will remain unchanged next year, with small and medium-sized banks being the most obvious.
The intensity of the good start campaign varies
On December 3, a reporter from the securities times visited several bank outlets in Shenzhen and found that among the state-owned banks, the postal savings bank, whose customers are older and whose deposit accounts for the highest proportion, has the most positive impact on the good start. In the business hall of a branch of the postal savings bank, the daily necessities, rice, flour, grain and oil and other gifts prepared for depositors have been put in order. According to the customer manager of a branch of the bank, depositors with deposits of more than 100000 yuan can choose any gift.
However, the rate of fixed deposit offered by state-owned banks and joint-stock banks has not increased significantly. The customer manager said that the bank offered a one-year fixed deposit rate of 2.25% and a two-year fixed deposit rate of 3.15%, which was slightly higher than the deposit rate of other state-owned banks, but did not increase compared with the previous interest rate; and financial managers of state-owned banks said that there is no good start activity this year.
Banks are rushing to get off to a good start, but from now on, this years activities are not very strong. The customer manager of a branch of a joint-stock bank also said that his banks business hall was mainly promoting a three-year fixed deposit product with an annual interest rate of 3.9%, and a new customers exclusive large deposit certificate product with an annual interest rate of 3.85%. The former was a good start product launched in December, but the interest rate offered did not fluctuate significantly.
In contrast, many small and medium-sized banks have already held a good start mobilization meeting, and the marketing intensity of the activities is obviously greater. For example, a village bank launched a five-year fixed deposit product with an annual interest rate of 6.075%. If the deposit is over 500000 yuan, the cash will be returned to 500 yuan without a ceiling. The deadline for the activity is December 31.
Kong Fanqiang, chief business officer of e-Cheng interactive, said that deposit taking and new customer acquisition are important assessment indicators for many bank branches and channels, so the banking industry commonly uses activity and advantage product impact indicators from the end of the year to the first quarter of the next year. In particular, the survival pressure of local small and medium-sized banks has increased after the arrival of the new economic normal and interest rate marketization. In addition to the impact of this years epidemic, it is a natural choice to raise deposit rates or raise deposit interest rates in disguise to attract deposits and obtain customer base.
Online storage battle is in full swing
Online marketing channels have also become a battlefield for small and medium-sized banks to attract deposits. In this years good start activity, some Internet platforms have adopted the method of bank fixed deposit interest rate plus interest rate increase coupon rate to attract depositors.
The reporter of the securities times learned that an Internet platform carried out the double 12 year-end feedback season activity, and each successful order can obtain an interest rate increase coupon with an annual interest rate of 3%, and the interest rate increase time is 180 days. The product of the interest rate increase coupon is usually the 5-year fixed deposit rate of small and medium-sized banks. In other words, for every 100000 yuan of deposit, in addition to the normal time deposit income, it can also get an additional interest of 1500 yuan. For example, if the annual interest rate of 5-year fixed deposit products is 4.8%, the actual annual interest rate of depositors is 5.1%.
In early November, sun Tianqi, director of the financial stability bureau of the central bank, pointed out in a public speech that there were problems in Internet platform deposits, such as improper marketing behavior, increasing liquidity management difficulty of small and medium-sized banks, deviation of regional banks from market positioning, distortion of regulatory assessment indicators, etc., which pushed the risk of banks to attract deposits through Internet platforms.
At the same time, since the beginning of this year, regulatory authorities have issued many documents to regulate high interest deposit taking products to guide banks to reduce debt side costs and thus reduce loan costs. Therefore, the issue of whether the Internet can push up the cost of bank debt has become the focus of market attention.
An Internet platform person said that the coupon was launched by the platform, and the cost was borne by the platform. However, many people in the industry have pointed out that the coupon is the cost of acquiring customers, and the Internet platform, as a channel to obtain customers, has no incentive to discount the money. Therefore, this part of the cost will eventually be transferred to the bank and borne by the bank.
The wool comes from the sheep. A person familiar with the matter said that the fees paid by the platform for interest rate hikes are actually channel fees paid by banks. He disclosed that the charging ratio of Internet platforms is floating. Some small banks and new banks can give very high fees, depending on the size of the total package. In other words, the stronger the drainage capacity of the platform, the more money they get..
But compared with the cost of small and medium-sized banks, the cost of Internet channel is not necessarily higher. Some Internet Finance practitioners have said that online deposit collection saves the cost of rent, equipment and manpower, increases technical investment and expands the customer base. On the contrary, it is easier to reduce the capital cost of banks.
Financial management, small and micro loans
Different from the small and medium-sized banks efforts to promote deposit and deposit products during the good start activities, the reporter found that when visiting the outlets of state-owned banks, the banks financial managers mostly promoted the financial products of bank insurance cooperation. Principal guaranteed income is one of the highlights of this kind of products. A five-year bancassurance cooperative product recommended by a state-owned banks financial manager is 4.5%, and the income can be guaranteed after three years of deposit.
Kong Fanqiang said that bancassurance cooperative products provide channel business income for banks. Compared with the banks own wealth management products and deposit products, its potential contribution is greater and it is also very attractive to some customer groups. Therefore, banks are actively promoting the sales of such products.
A local regulator further pointed out that in the business cooperation between banks and insurance companies, different proportions of handling fees are withdrawn according to different payment methods, and the annual service rate of some payment products is as high as 15%. Therefore, grassroots banks give more rewards to employees for selling bancassurance cooperative products, and the rewards for bancassurance products are continuous, there are some this year, and there will be some next year, while the rewards of bank financial management and deposit products are all one-time, so the employees enthusiasm to recommend bancassurance cooperative products is higher.
Promoting bancassurance products is to increase revenue for outlets. The financial manager of a stock bank said frankly, if the elderly are older, the bancassurance cooperative products have the advantage of guaranteed principal and income, which is a good choice. However, for people with high risk preference, he recommends choosing financial products with more flexibility and higher yield.
The upward pressure of debt side cost remains unchanged
The team of Yang Rong of CSCI pointed out that in the first half of this year, due to the high proportion of deposits in state-owned banks, the capital cost was relatively rigid, and in addition to the real economy, the net interest margin of state-owned banks decreased significantly, while the joint-stock banks and urban commercial banks benefited from the low proportion of deposits at the liability side and the decline of interbank deposit receipt interest rate, resulting in a relatively stable net interest margin. According to the data of the Research Institute of Bank of China, as of the end of the third quarter of this year, deposits of large banks, joint-stock banks, urban commercial banks and agricultural commercial banks accounted for 80.7%, 63.9%, 64.4% and 76.6% of the total liabilities, respectively. Yang Rongs team believes that the cost of bank liabilities is mainly affected by the deposit supply-demand relationship, which accounts for the largest proportion. The improvement of debt cost ratio in the third quarter of this year is mainly due to the pressure drop of high interest structured deposits. Next year, with the maturity of interbank liabilities with low interest rates and the fierce competition for deposits in the first half of this year, banks will issue fixed-term products to absorb deposits, and the upward pressure on asset side costs will remain. Source: Securities Times editor in charge: Yang Bin_ NF4368
The team of Yang Rong of CSCI pointed out that in the first half of this year, due to the high proportion of deposits in state-owned banks, the capital cost was relatively rigid, and in addition to the real economy, the net interest margin of state-owned banks decreased significantly, while the joint-stock banks and urban commercial banks benefited from the low proportion of deposits at the liability side and the decline of interbank deposit receipt interest rate, resulting in a relatively stable net interest margin.
Yang Rongs team believes that the cost of bank liabilities is mainly affected by the deposit supply-demand relationship, which accounts for the largest proportion. The improvement of debt cost ratio in the third quarter of this year is mainly due to the pressure drop of high interest structured deposits. Next year, with the maturity of interbank liabilities with low interest rates and the fierce competition for deposits in the first half of this year, banks will issue fixed-term products to absorb deposits, and the upward pressure on asset side costs will remain.