China's Major Commercial Banks Cut Deposit Rates
China’s Major Commercial Banks Cut Deposit Rates Again
China’s major commercial banks have cut their deposit rates for a second time this year, a move that could help ease pressure on lenders’ profits after officials lowered mortgage and lending rates as part of efforts to boost the economy.
Major commercial banks to slash mortgage rates
The four biggest commercial banks, the Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China and Bank of China, said they will adjust interest rates on existing mortgages to align with the loan prime rate (LPR) minus 30 basis points.
Major commercial banks announce policies to cut existing mortgage rates, effective from Oct 25
China's major commercial banks, including the Industrial and Commercial Bank of China, Agricultural Bank of China, the Bank of China and China Construction Bank, announced on Saturday that they plan to cut some of their existing mortgage rates starting October 25.
China cenbank chief flags more interest rate cuts
China's central bank governor said on Friday the reserve requirement ratio for commercial lenders could be cut further by 25 to 50 basis points by the year-end depending on liquidity conditions, keeping the door open to more policy easing steps.
China’s Mega Banks Trim Deposit Rates as Stimulus Hits Profits
China’s largest state-owned lenders have cut their deposit rates on Friday, their second reduction this year as they rushed to salvage record low margins amid weakened profitability.
China's Top Banks Cut Interest Rates On Yuan Deposits: State Media
China's top banks on Friday cut interest rates on deposits in yuan for the second time this year, state media said, as Beijing seeks to boost sluggish consumption.
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