After the combination of interest rate cuts, the expected channel of lowering deposit rates has opened, and state-owned banks have taken the lead. According to the website of the Industrial and Commercial Bank of China, ICBC has lowered the RMB deposit rate, lowering the one-year, two-year, three-year, and five-year RMB time deposit rates to 1.35%, 1.45%, 1.75%, 1.8% respectively. The Agricultural Bank of China's official website shows that ABC has lowered the RMB deposit rate on July 25, with the interest rates for the three-month, six-month, and one-year fixed deposits lowered by 10 basis points to 1.05%, 1.25%, and 1.35%, respectively. The interest rates for the two-year, three-year, and five-year term deposits are reduced by 20 basis points to 1.45%, 1.75%, and 1.80%, respectively. Analysts predict that banks may take more measures, including lowering deposit rates, to continue to lower the cost of funds and keep the interest rate spread basically stable.

Huafu Securities research report pointed out that there are three driving factors for the bank sector's market since this year. First, the logic of stock dividend yield selection has been diffused within the sector, and the high dividend stock strategy has spread from state-owned banks to small and medium-sized banks. Second, there is a relaxation of real estate policy. Third, the market has expectations for the slowing down of the downward slope of net interest margin and the fundamentals of the banks hitting the bottom. In the future, the bank sector needs to further test the effectiveness of previous policies and the trend of future fundamentals.

According to the Financial Data Center, among related listed companies:

Chongqing Rural Commercial Bank closely follows the major strategies of the country's Belt and Road Initiative, the Yangtze River Economic Belt, the western development, and the construction of the Chengdu-Chongqing double-city economic circle, actively carries out the construction of a green financial system, and the company's dividend yield in the past three years were 6.5%, 7.6%, and 7.0%, respectively.

The Bank of Hangzhou mainly operates in Hangzhou city, based in the economically leading and privately active Zhejiang province, deeply rooted in the prosperous Yangtze River Delta region. In 2023, the company's net income attributable to shareholders increased by 23.15% year-on-year, ranking first among the 17 listed city commercial banks.