Siam Commercial, Krung Thai Raise Interest Rates

Siam Commercial Bank Pcl and Krung Thai Bank Pcl will raise lending and deposit rates after Thailand’s central bank increased the nation’s key interest rate.

Siam Commercial Bank will raise deposit rates by as much as 0.4 of a percentage point starting Dec. 4, and its lending rates will increase as much as 0.15 of a percentage point, the company said in an e-mailed statement.

State-controlled Krung Thai will increase its deposit rates by as much as 0.45 of a percentage point, and lending rates will rise by 0.125 of a percentage point, the bank said on its website.

To contact the reporter on this story: Suttinee Yuvejwattana in Bangkok at suttinee1@bloomberg.net

To contact the editor responsible for this story: Tony Jordan at tjordan3@bloomberg.net

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