Some banks are losing retail deposits, stepping up efforts in wealth management to cope with the impact.

Since September, the lineup of small and medium-sized banks lowering deposit rates has continued to expand. On September 25, several banks such as Henan Luoyang Rural Commercial Bank, Luoning Rural Commercial Bank, announced a decrease in RMB deposit rates, covering products including current deposits, notice deposits, and various fixed-term deposits, with the highest reduction reaching 35 basis points. At the same time, Securities Times reporters learned from various bank retail customer managers that there has been a noticeable outflow of retail deposits in recent times. To alleviate the negative impact of deposit outflows, many banks are focusing on wealth management and increasing the size of managed client assets as their main strategy. The "price comparison effect" has also led many bank customers to change their investment strategies, with a growing interest in cash management, fixed income, mixed, and equity fund products with annualized returns approaching 2% to 3%.