Setting up Preferential Interest Rate Deposit Service to Counter Inflation
In March 1950, in line with the government's policy to curb inflation, First Bank launched high-interest deposit accounts. This initiative aimed to encourage savings and attract idle funds back into the banking system. After the introduction of these high-interest deposits, they accounted for over 40% of the bank's total monthly deposits, peaking at more than 60%. The first volume of "First Bank Overview" records the annual balances of high-interest deposits starting from 1950. This data clearly shows a significant increase in the bank's deposit balances, demonstrating the effectiveness of this initiative.