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.
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