Completely remove! Minsheng Bank suspends the 'Sui Xin Cun' and 'Li Duo Duo' automatic purchase and renewal services. Experts say the trend of deposit regularity is increasing, and the listed interest rate will continue to decline.

Minsheng Bank announced that it will stop the automatic purchase and automatic renewal services for the "Flexible Savings" and "Li Duo Duo" products from June 13th, and this business will be completely removed after the expiration of current stock products. Experts believe that in recent years, the trend of deposit becoming more and more fixed-term has intensified, and banks urgently need to adjust long-term, high-interest deposit products to relieve the pressure on the liability side, and there is still a need to lower the listed deposit interest rates in the future.

cls.cnJun 5 18:26

After “515,” banks continued to reduce “high-interest” public agreement deposits. Minsheng Bank recently adjusted three types of products, and more banks may follow suit

① On May 22, Minsheng Bank posted an article on its official website stating that the bank will adjust RMB unit agreement deposits, RMB liquid profit products, and smart notification deposits. ② Since late April, a number of banks have continued to lower interest rates on Chinese unit agreement deposits to 1.15%. ③ A number of banks have lowered interest rates on unit agreements, which is closely related to the requirements of the regulatory authorities. I believe more banks will follow suit in the future.

cls.cnMay 23 13:01

The chairman and president of Societe Generale Consumer Finance were in place at the same time. Like the previous one, they all came from the parent bank Societe Generale Bank. Executives of at least 8 consumer finance companies changed during the year

① Societe Generale Consumer Finance announced changes in the legal representative and president of the company. This is also the first time that it has changed its chairman since its establishment in 2014; ② Societe Generale Consumer Finance's first chairman Zheng Haiqing and CEO Lin Chun all came from Societe Generale Bank. Chairman Dai Xuxian and CEO Liu Qinghua continue this tradition; ③ In the first half of this year, at least 8 consumer finance companies experienced executive changes, 7 of which were banking companies.

cls.cnMay 22 16:06

Industrial Bank issued another 20 billion second-tier capital bonds in the second quarter, and the bank accelerated the issuance of 2 permanent bonds by more than 314.7 billion yuan

① Since the second quarter of this year, 18 banks have successively issued second-tier capital bonds and perpetual bonds (including proposed issuance), with a total issuance scale of 314.75 billion yuan; ② Since May, the yield on bank capital bonds has diverged. Experts believe that there is still room for strength under the imbalance in the supply and demand structure.

cls.cnMay 15 21:56

Salary cuts to sole proprietors? Huaxia Bank plans to adjust the directors' allowance standards. The sole director's income or “sharp rise and fall”, the reduction is about 9%

① Huaxia Bank's bill on the adjustment of directors' allowance standards attracted market attention. Due to changes in calculation rules, the bank's sole manager's allowance will probably drop to a certain extent from the level in the previous year's financial report. ② The new directors' allowance standard is 355,000 yuan/person/year. According to the 2023 financial report, Huaxia Bank's sole director's salary is generally around 390,000 yuan. Based on this initial calculation, the sole director's allowance was reduced by about 9%.

cls.cnMay 14 18:44

There are also banks that “take action” on large deposit slips! Minsheng Bank suspends sales of large deposit certificates with a term of half a year or more, and bank pressure drops and high-cost deposit products continues

① Since May 7, Minsheng Bank has stopped selling large deposit certificate products with a term of half a year or more. Interest rates on specialty deposit products with a term of three or five years have exceeded 5BP for large deposit certificates. ② Experts pointed out that the purpose of banks suspending the sale of long-term large deposit certificates is to ease the pressure of narrowing net interest spreads by reducing long-term high-interest debt and reducing debt-side costs. But at the same time, the difficulty of collecting savings will also increase, and banks will need to explore more diversified savings channels.

cls.cnMay 7 22:58