To prepare for growing loan demand, banks are going to want to keep their existing deposit base after some deposits were moved to chase better returns in corporate bonds, mutual funds and equities.
Mr Adisorn said CIMBT deposits were flat in the first half, but its debentures grew by
In the second half, it plans to raise total funding of
"We plan to launch four to five new deposit campaigns in the second half. As a small bank, bundling deposit packages, innovative features and pricing are the key strategies in a competitive market," he said.
The big local players include
BBL offers fixed 11-month and four-month deposits with interest rates of 2.8% per year and 2%, respectively.
KTB launched a netbank time deposit campaign for 44 months and nine months with interest rates of 3.45% and 2.7%, respectively. The deposit packages are for internet banking clients.
KBank has a 14-month fixed-deposit package offering an interest rate of 2.8%, with interest payments available monthly.
Kris Chantanotoke, executive vice-president at
"We aim to see deposit growth of 9-10% this year, but since the bank had flat growth in the first half it will require a big effort in the second half," he said.
BAY started a new eight-month fixed deposit account with an interest rate of 2.3% for the first three months, 2.7% for the fourth to sixth month, and 3.5% for the seventh to eighth month, averaging 2.75% per year if the deposit is kept to maturity. Monthly interest payments are available but require a minimum deposit of
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