The race for deposits comes after CIMB Group Bhd, the second largest lender, fixed its fixed deposit rates at 3.4% for a 12-month tenure two weeks ago from 3.15% previously. Analysts described the rate set by CIMB as aggressive and could trigger another round of competition for low cost funds.
PETALING JAYA: Malaysian banks are racing to increase their stash of deposits amid concerns on rising loan-to-deposit (LD) ratios.
This comes after CIMB Group
Bhd, the second largest lender, fixed its fixed deposit rates at 3.4% for a 12-month tenure two weeks ago from 3.15% previously.
Already a subscriber? Log in.
Celebrate Merdeka with 50% Off!
T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
