At least three nationwide Chinese banks lowered deposit rates, following a similar move by their smaller rivals last month, as lenders battled shrinking margins. Mid-sized national banks including China Zheshang Bank Co, Hengfeng Bank Co and China Bohai Bank Co said late on Thursday (May 4) they lowered deposit rates as much as 30 basis points on some tenors. After the adjustment, these lenders will pay an annual 1.85% for one-year deposits, down from 1.95%, and pay 2.95% for three-year deposits (previously 3.

http://klse.i3investor.com/web/blog/detail/kianweiaritcles/2023-05-06-story-h-271533921-More_Chinese_banks_cut_deposit_rates_as_margins_shrink

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