TMB Bank Pcl, today announced a lending rate cut for minimum overdraft rate and minimum retail rate of a quarter of one percentage point effective from 29 May 2009.
TMB Bank Chief Executive Officer Mr. Boontuck Wungcharoen said the bank has lowered its minimum overdraft rate and minimum retail rate by 0.25%, bringing its minimum overdraft rate to 6.50% and minimum retail rate to 6.75%.
“The reduction in lending rate is aimed at helping businesses, especially SMEs to lower their borrowing costs. TMB had lowered its minimum loan rate to 6.25% in late March this year and is among the first commercial banks in Thailand to lower minimum loan rate in response to the Bank of Thailand’s policy to help stimulate the economy. Our minimum loan rate is currently stay competitive when compared with other commercial banks with similar size,” said Mr. Boontuck.
TMB Bank Public Company LimitedFounded on 8 November 1957, TMB Bank Pcl. operates a commercial banking business under a license granted by the Ministry of Finance, and with consent given by the Bank of Thailand. It also operates a securities business licensed by the Ministry of Finance and agreed to by the Securities Exchange Commission.
The Bank aims to respond to the needs of its clients through its 475 branch network, 107 foreign exchange centers, 2,032 ATMs, as well as electronics banking systems. Its business encompasses commercial banking, offshore banking, investment banking, and other businesses as permitted by the regulatory authorities, including acting as an insurance agent for its alliance insurance companies.
Listed on the Stock Exchange of Thailand, the Bank is the sixth largest bank, by total assets, in Thailand. As at 31 March 2009, its total assets are valued at THB 601,379 million.
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TMB Bank
REF:thaipr.net
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