KUALA LUMPUR, Jan 23 — Maybank, Public Bank, RHB Bank and Hong Leong Bank today announced they will lower their base rate (BR) and base lending rate (BLR) by 25 basis points following Bank Negara Malaysia’s move to cut the overnight policy rate yesterday. In a statement, Maybank said it would...
The silhouettes of attendees are seen in front of a screen with the Maybank logo at Invest Malaysia 2019 in Kuala Lumpur March 19, 2019. — Picture by Firdaus Latif
Similarly, the country’s largest lender said, its Islamic BR and BFR would be lowered by 25 basis points to 2.75 per cent and to 6.40 per cent, respectively. Public Bank managing director and chief executive officer Tan Sri Tay Ah Lek said given the current challenging operating environment, Public Bank’s BR reduction was timely to ease the burden of the borrowers and help stimulate the nation’s economic growth.
In a statement, it said RHB Bank, RHB Islamic Bank and RHB Investment Bank would reduce their BR and BLR to 3.50 per cent per annum and 6.45 per cent per annum, respectively. RHB Bank’s fixed deposit rates will also fall by 25 basis points in line with the revision.
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