Krungsri cuts lending rates in response to MPC move
Krungsri (Bank of Ayudhya and its group companies) on Thursday (May 21) cut its minimum loan rate (MLR) from 5.83 per cent to 5.58 per cent, the minimum overdraft rate (MOR) from 6.30 per cent to 5.95 per cent and minimum retail rate from 6.30 per cent to 6.05 per cent.
The new lending rates took effect on Thursday.
The move follows the Monetary Policy Committee (MPC)'s decision to cut the key policy rate by 0.25 percentage point from 0.75 to 0.50 per cent effective on Wednesday (May 20).
President and chief executive officer Seiichiro Akita said Krungsri stands ready to support the authorities' monetary policy through the banking mechanism in relieving the impact of the coronavirus outbreak on businesses and reducing customers' funding costs.
This was the fourth reduction in rates for Krungsri following previous rate reductions on February 8, March 24 and April 10.
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