The banks staged a deposit war, insiders said: not fierce but tragic.

category:Global
 The banks staged a deposit war, insiders said: not fierce but tragic.


Recently, a number of banks have raised interest rates on large certificates of deposit, making banks savings war again. In April 24th, the Beijing News reporter learned that at present, the four major banks, one year period, 300 thousand large certificates of deposit are 45% higher than the benchmark interest rate. There are 1 million large deposits of stock banks floating 50%, the city commercial banks up to 55%. However, what is the effect of raising the CDs interest rate on banks? In the eyes of many banking professionals, large certificates of deposit do not have absolute advantages compared with other financial products. Interest rates are not attractive to customers. In fact, bank deposits have long lost their appeal to ordinary customers. In order to attract deposits, major banks continue to raise the interest rate of the large deposit certificate, the payment of the gift, the debt retention of the customers, the mismatch of the product design time and so on, and even draw on the practice of the insurance industry to draw on the customers. It is worth noting that after many small loan companies and mutual fund platforms have gone through, some of the funds have been refunded to bank deposits. In April 24th, the Beijing news was informed that a large amount of deposit receipts with more than 45% of the benchmark interest rate were 300 thousand, with a period of one year, and the adjusted interest rate was 2.175%. There are 200 thousand most of the large deposit bills of the joint-stock banks. Among them, China Merchants Bank has responded to the new Beijing newspaper from April 17th. Since April 17th, the bank has launched a new 500 thousand and 1 million large certificates of deposit, with a floating rate of 45% and 50% compared with the benchmark. The original rate of the original 200 thousand large deposit receipts is 40% on the basis of the benchmark. Small and medium-sized banks have the biggest floatation. In April 18th, Henans Jiaozuo China Travel bank announced that it would issue second major individual deposits in 2018, 6 months, 1 - year, 2 - year, 3 - year deposit rates were up to 55% compared to the benchmark interest rate, and that the rate of individual large deposits issued by the bank was only 45%. Chengdu bank 200 thousand deposits, 3 months, 6 months, one year, two years, three years of large deposit certificates rose 52%. The 360 monitoring data showed that the average expected annual yield of bank financial products was 4.84% last week, down 0.01 percentage points from the last week, and fell for three weeks in a row. The new Beijing News reporter telephoned several big banks to learn that the interest rate of the Bank of China, the Construction Bank, the Minsheng Bank, the Pufa Bank and the large amount of deposit for the period of 200 thousand and the period of three years was 3.85%. In contrast, the interest rate on bank certificates of deposit has no advantage and is not attractive to customers. Large certificates of deposit do not appeal to customers. Zhang Lin, a senior executive of a listed bank in Zhejiang, said that the only advantage of the large deposit is its certainty or the security of assets, and the current financial products are in fact keeping the capital, so the large deposit certificate has no absolute competitiveness. The advantages of large certificates of deposit will only be reflected when financial transactions can not be rigidly paid and investment risks may be lost. As a result, most customers choose financial or other investment channels, some older customers or multi - asset allocation groups will choose large deposits, but this choice is not the mainstream. Paul Liu, an executive of a commercial bank in Shandong, also said, from this point of view, part of our side stock banks and some small banks are up to 50%, most of them float 45% on the basis of the central banks benchmark interest rate, and there are 40% banks floating on the basis of the bank, more than tens of yuan or hundreds of yuan for customers. There is no particular attraction. It says that banks do not consider raising their interest rates to attract customers, more to think about how to retain customers through services and products or to attract the lost customers. How will the adjustment of future deposit interest rate go? The above two bankers indicated that the deposit interest rate adjustment would be divided into batches and gradual liberalization according to the regional and banking types. The deposit war is not fierce, but bitter! In fact, not only large certificates of deposit, bank deposits have long been lost to ordinary customers. In the near future, the bank general bank of Zhang Lin has made a summary analysis of the first quarter deposit. A large amount of deposit increment is concentrated in the large state of the central and western regions. In the high degree of financial marketization, the financial service outlets have been saturated with the infiltration of mutual gold and other institutions, and the deposit increment is less and less. Zhang Lin said, for the battle for deposits, we came to the conclusion that tragic is not intense. Last year, four of the six branches of our branch grew, and the deposits of two outlets grew negatively in recent years. Zhao Peng, an employee of a state-owned large bank in Liuyang, Hunan, said that the negative growth in the two outlets mentioned earlier is mainly because last years local city business bank entered the Liuyang market in Hunan, and took the two branches of the administrative unit business, and through some reduction in free storage, the bank had two net deposits negative growth. According to Zhao Peng, there are 5 banks in Liuyang. At present, there are 19 financial institutions to divide the market. In addition to the competition between banks, the loss of customer and agency customers also makes the bank draw more and more pressure on deposit. On the one hand, the state limits the bank to the governments credit, tax and other power up, indirectly leads to the government can put idle funds to the bank to reduce; on the other hand, the enterprise simply set up a financial company to manage finance, no longer rely on bank management funds. Paul Liu said that the number of shareholding banks in their areas in recent years has fallen by 20%-30%, and our banks are generally stable. In Zhao Pengs impression, the competition between bank deposits is the most intense in the first quarter of the year. In the first quarter, deposits did not rush upward, which would be greatly affected throughout the year. In the meantime, there are banks to pull deposits or even use some vicious competition means. For example, a salesman promises a deposit customer that, in addition to interest, it will give an additional twenty thousand yuan to the customer, and the cost of this twenty thousand yuan comes from the marketing expenses of the network. Zhao Peng explained that at present, all the bank outlets will have special marketing costs, the state-owned large banks have less marketing costs, the joint-stock banks and the small and medium-sized banks have more marketing costs. There are bank outlets in Liuyang, which cost more than 1 million 500 thousand yuan a year, and the marketing cost of each network is 600 thousand -80 yuan per year. Zhang Lin is no stranger to the marketing expenses used to pull deposits, such as gift giving, lucky draw and so on. Zhang Lin said frankly that the effect of this kind of influence is phased and ultimately depends on products and services. In addition, Zhang Lin told reporters, in the bank to pull deposits, the insurance trend is more and more obvious. That is, the insurance industry draws the customers practice. Some banks even pull the deposit staff to a place for training, marketing at the beginning of the season or at the beginning of the month, and even take the initiative to sell them. Paul Liu also said that this way is not uncommon in the three line area. Recovery of payroll business part of mutual cash management customers return In the past by the way of profit, yelling, disguised promotion and so on, pull the deposit , but now we slowly realize that excessive marketing can not achieve a lasting effect. Zhang Lin said that banks have taken the initiative to adopt various traditional or innovative measures to increase their deposits. In the past, in view of the pressure of the counter, Zhang Lins Bank was not very interested in the payroll of the company, but now we are slowly taking the business of this aspect, whether it is 500 yuan or 3000 yuan, all is a current stable deposit, and we can still try to keep it. Zhang Lin said. In terms of innovation, banks also increase deposits through new businesses. Zhang Lin said that in recent years, because of the large exchange rate changes, banks have made efforts to international business, hoping to deposit their customers funds into banks and become deposits. In addition, its banks are paying more and more attention to the financial funds bidding projects of government departments and state-owned enterprises, so as to stabilize deposits through high price. In addition, the banks in which they live are paying more and more attention to raising funds through issuing bonds. The financing platform of the government is limited, and the financing of the local government is turning to marketization. We can keep cash in the form of bonds. In product design, banks can reduce the fluctuation of funds through time mismatch. For example, by the end of March, bank funds will be tight, we will launch a two month period, a higher amount of products in February, so as to cover the sensitive time nodes of capital fluctuations to retain their deposits. Zhang Lin said. It is worth noting that after the brutal growth of the mutual gold platform, some customers of bank deposits choose to return. Zhao Peng and Paul Liu also mentioned that in the past few years, small loan companies and mutual gold platforms have been growing brutally, and many bank deposit customers have chosen to put money in the platform of higher returns. I am very impressed by the recommendation of deposit products to customers in the past few years. Customers immediately refused and put the money in mutual gold company. Later, many platforms caused investors to suffer heavy losses. Many customers prefer to lower their earnings in order to earn less money and to put money in the bank for security. Zhao Peng said. Source: Beijing News Editor: Cao Yi _NN5778 In product design, banks can reduce the fluctuation of funds through time mismatch. For example, by the end of March, bank funds will be tight, we will launch a two month period, a higher amount of products in February, so as to cover the sensitive time nodes of capital fluctuations to retain their deposits. Zhang Lin said. It is worth noting that after the brutal growth of the mutual gold platform, some customers of bank deposits choose to return.