GH Bank cuts rates across the board
published : 15 Aug 2019 at 11:01
writer: Wichit Chantanusornsiri
GH Bank has jumped on the rate-cutting bandwagon, slashing its prime rates by 12.5 basis points across the board, effective from Aug 16.
The bank's new minimum lending rate (MLR) will be trimmed to 6.125% from 6.25%, the minimum overdraft rate (MOR) to 6.875% from 7% and the minimum retail rate (MRR) to 6.625% from 6.75%, according to the bank's announcement.
The state-owned mortgage lender's move came after the four biggest commercial banks passed on the central bank's 25-basis-point policy rate cut almost in full, chopping their MRR and MOR but keeping MLR steady.
Kasikornbank (KBank), Krungthai Bank (KTB) and Bangkok Bank (BBL) cut their MOR and MRR by 25 basis points, while Siam Commercial Bank (SCB) lowered its MRR by 25 basis points but trimmed its MOR by a smaller amount of 12.5 basis points.
State-run Government Savings Bank (GSB) will reportedly hold an executive board meeting next Tuesday to consider whether it will follow suit.