Thai Kasikornbank to cut retail and overdraft lending rates

Kasikornbank Pcl, Thailand’s fourth-largest lender, will cut its minimum retail and minimum overdraft rates by 25 basis points (bps) on April 25, it said in a statement.

The cut, which follows similar move by Bangkok Bank on Thursday, is aimed at helping the bank’s small and medium-sized (SME) business and retail customers who have been hit by the slowing economy, the bank said.

Kasikornbank is among the top four lenders that cut their minimum lending rate (MLR) by 25 bps on April 5.