KUALA LUMPUR, July 7 — Malayan Banking Bhd (Maybank) will lower its base rate (BR) and base lending rate (BLR) by 25 basis points (bps), effective July 9, 2020, in line with the reduction in the overnight policy rate (OPR) today. In a statement, the bank said its BR will be lowered to 1.75 per...
In a statement, the bank said its BR will be lowered to 1.75 per cent from 2.00 per cent, while its BLR will be revised to 5.40 per cent from 5.65 per cent. — Picture by Yusof Mat Isa
Similarly, the Islamic BR and Base Financing Rate will be reduced by 25 basis points to 1.75 per cent from 2.00 per cent and to 5.40 per cent from 5.65 per cent, respectively. In a separate statement, RHB Banking Group said it has also revised its BR and BLR downwards by 25 basis points, effective July 13, 2020.
Earlier today, BNM announced the reduction of the OPR by another 25 basis points to 1.75 per cent, a record low since the floor was set in 2004.
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