Chinese banks diversify large-denomination CDs with customer-specific products

TREE NEWS reports: Chinese banks are increasingly issuing large-denomination certificates of deposit (CDs) tailored to specific customer groups and regions. ICBC offers a three-year CD at 1.55% annualized, with a 200,000 yuan minimum, exclusively for teachers, while another same-term CD at 1.55% requires 1 million yuan for high-net-worth clients. Banks like Bank of Nanjing and Xiamen International Bank have also launched customer-specific CDs, signaling a shift from high-yield deposit tools to customer retention strategies amid narrowing net interest margins.