Bank of Ayudhya (BAY) has cut its minimum lending rate by 0.25 percentage points to 6.35% from 6.60% following the Bank of Thailand's policy rate cut.
Seiichiro Akita, Krungsri's chief executive, said the cut is meant to pass on the benefits of the lower interest rate to corporate customers to help reduce borrowing costs amid unstable economic headwinds.
BAY also trimmed deposit rates for its corporate customers by 0.05-0.35 percentage points, though the dip will not affect customers who are individuals or non-profit juristic persons, said Mr Akita.
The cuts are in effect for corporate customers starting on Tuesday.