Benefits Cut, Interest Rates Lowered: Private Banks Tackle Liability Cost Reduction

Recently, several private banks including Zhongbang Bank, Huatong Bank, and Huarui Bank have announced business adjustments, either by trimming 'invisible benefits' such as membership perks and growth points or by lowering deposit interest rates. Experts analyze that these moves are primarily aimed at reducing comprehensive liability costs while responding to regulatory requirements and optimizing customer structures. Looking ahead, private banks may move beyond simple price wars, pursuing differentiated competition through vertical deepening, technology empowerment, and scenario-based binding. (China Securities Journal)