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SME Bank to increase interest rates by quarter point next month.
Sep. 13--The Small and Medium Enterprise Development Bank of Thailand (SME Bank) is set to raise lending its interest rates by 0.25 percentage points next month to cover the higher cost of funding.
President Chotisak Asapaviriya said the bank's cost of funding was rising in line with the upward interest-rate trend. As the result, it needed to increase its lending rates by 25 basis points to keep its commercial interest spread next month.
He said the bank's current base lending rate was 6.25 percent, the same as those of medium-sized commercial banks.
"Small and medium enterprises still need to improve production efficiency, product quality and ...
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Source: HighBeam Research, SME Bank to increase interest rates by quarter point next month.