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  • September 16, 2014
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  1. Business - Banking & Finance - BANKING

    China's banks slash deposit rates as companies hoard US dollars

    Posted Aug 31st 2012, 12:00am by Bloomberg

    ... Bloomberg Loss of confidence in yuan's appreciation leads mainland companies to accumulate greenbacks As firms hoard US dollars, lenders slash deposit rates China's biggest banks are cutting US dollar deposit rates as the most bearish outlook for the yuan since 2009 prompts mainland companies to hoard the greenback. Industrial and Commercial Bank of China cut its one-year ...

    http://www.scmp.com/business/banking-finance/article/1026542/chinas-banks-slash-deposit-rates-companies-hoard-us-dollars
  2. HSBC to cut yuan deposit savings rates from today

    Posted Aug 09th 2011, 12:00am

    ... Enoch Yiu HSBC will cut its savings rate for yuan deposits to 0.25 per cent from today, down from 0.45 per cent. A bank spokesman said the cut was to move HSBC in line with the market as other banks had already made similar cuts in their yuan savings rates. Many local lenders cut their saving rates for yuan deposits in April after the People's Bank of China reduced ...

    http://www.scmp.com/article/975760/hsbc-cut-yuan-deposit-savings-rates-today
  3. Interest cut for elderly prompts warnings

    Posted Aug 09th 2004, 12:00am by Elaine Wu

    ... with banks.' Iman Fok Tin-man, an organiser at the Society for Community Organisation, said most of the elderly she had helped kept their money in fixed-deposit accounts. 'Many elderly rely ... special interest rates to the elderly. The Bank of China is the only one that continues to do so. Anyone who is 55 years or older and has a fixed-deposit account of $30,000 or more can qualify ...

    http://www.scmp.com/article/465924/interest-cut-elderly-prompts-warnings
  4. Smaller banks join rush to higher deposit rates

    Posted Jun 12th 2012, 12:00am

    ... Jane Cai in Beijing xuejun.cai@scmp.com Second-tier banks followed major lenders in offering higher deposit rates than the benchmark, boosting competition in the finance sector after a recent move towards interest rate deregulation. China Minsheng Banking Corp, China Merchants Bank and China Citic Bank were among other joint-stock lenders that raised deposit rates ...

    http://www.scmp.com/article/1003735/smaller-banks-join-rush-higher-deposit-rates
  5. Comment - Insight & Opinion

    Turning on the money tap will do little to ease China's liquidity bottlenecks

    Posted Sep 03rd 2014, 11:50am by Hu Shuli

    ... a drop of 546 billion yuan from a year earlier. The news follows dismal drops in both new loans and new bank deposits, so it's clear this is no cyclical fluctuation. In fact, growth in total ... imposed on banks remains unchanged, commercial banks could lose a chunk of their deposits. Yet, if the benchmark deposit rate remains unchanged while the lending rate is lowered, this would reduce ...

    http://www.scmp.com/comment/article/1584332/turning-money-tapwill-do-little-ease-chinas-liquidity-bottlenecks
  6. Business - Banking & Finance - CURRENCIES

    Yuan deposit growth to 'maintain last year's momentum', says BOCHK

    Posted Feb 12th 2014, 12:50am by Jeanny Yu and Kanis Li

    ... Jeanny Yu and Kanis Li Yuan seen maintaining growth momentum Bank of China (Hong Kong) expects the city's yuan deposits to keep growing despite capital outflow risks, reaching 1.16 ... manager and head of yuan business at BOCHK, the sole clearing bank for yuan business in Hong Kong, said he expected deposits of the currency in Hong Kong would grow by as much as 300 billion yuan ...

    http://www.scmp.com/business/banking-finance/article/1426181/yuan-deposit-growth-maintain-last-years-momentum-says-bochk
  7. Smaller mainland banks struggle for deposits

    Posted Apr 04th 2012, 12:00am

    ... Lulu Chen lulu.chen@scmp.com Pulling in deposits continued to be a struggle for mainland banks in the first two months of the year, according to bankers and analysts. Lenders, especially ... that offer much higher returns. The president of China Merchants Bank, Ma Weihua, speaking at the Boao Forum, said that mainland lenders continued to face challenges in attracting deposits. Liu ...

    http://www.scmp.com/article/997385/smaller-mainland-banks-struggle-deposits
  8. Business - Banking & Finance - BANKING

    Rates climb as lenders scramble for deposits

    Posted Nov 04th 2013, 05:49am by KANIS LI

    ... are on the march in the city, especially among smaller lenders, as banks bid to attract more deposits before they finalise their financial statements for the year. Interest rates on Hong Kong time deposits ... at about 0.38 per cent. "Many of the small and medium-sized banks can offer as high as 1.25 per cent to the deposits that bridge to the year-end, if you are taking several millions of new ...

    http://www.scmp.com/business/banking-finance/article/1346785/rates-climb-lenders-scramble-deposits
  9. Banks struggling to attract deposits

    Posted May 30th 2012, 12:00am

    ... Lulu Chen lulu.chen@scmp.com Hong Kong banks could come under pressure as deposit costs have been rising. A banker said this could hit their net interest margin (NIM), a measure ... at the bank's annual general meeting that it was among the many lenders in Hong Kong that had been aggressively seeking deposits in recent months with incentives such as higher interest rates. Though ...

    http://www.scmp.com/article/1002469/banks-struggling-attract-deposits
  10. Citic Bank sees rise in yuan deposits

    Posted Apr 16th 2012, 12:00am

    ... Lulu Chen lulu.chen@scmp.com Citic Bank International, the offshore commercial banking arm of China Citic Bank, said yuan deposits increased in the first two months of the year, while many ... centre and growth in yuan trade settlements with the mainland, said Helen Kan, an executive general manager of CBI's retail banking group. Yuan deposits in Hong Kong fell nearly 10 per cent ...

    http://www.scmp.com/article/998352/citic-bank-sees-rise-yuan-deposits

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