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Deposit Rates in Thailand Start Slow Upward Trend.
Byline: Darana Chudasri
Jul. 4--While most analysts agree that increases in market interest rates remain unlikely until firmer signs of economic recovery, several local banks have been moving to raise deposit rates to finance growth in consumer lending.
Bank of Ayudhya (BAY) earlier this month quietly raised its fixed interest rates by one-quarter to one-half a percentage point for deposits exceeding one million baht. The increases are effective until Oct 31.
One BAY executive said the short-term rate increase was aimed at raising matching liabilities to offset asset growth in consumer loans.
The bank has set a net retail lending ...
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Source: HighBeam Research, Deposit Rates in Thailand Start Slow Upward Trend.