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China Banks Trim Deposit Rates Again to Shore Up Profitability

China Banks Trim Deposit Rates Again to Shore Up Profitability

Bloomberg20-05-2025
Several major Chinese banks have cut their deposit rates in the latest efforts to reduce funding costs and preserve their shrinking profitability.
Industrial & Commercial Bank of China Ltd., China Construction Bank Corp. and China Merchants Bank Co. have trimmed rates across tenors on Tuesday with those on one and two-year fixed deposits falling by 15 basis points, according to updates on their mobile apps. Interest rates on three and five-year deposits were slashed by 25 basis points.
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