KUALA LUMPUR (Jan 30): RHB Banking Group announced today it is raising its base rate (BR) and base lending rate (BLR) by 25 basis points (bps), effective Feb 2, in line with the hike in the overnight policy rate (OPR) announced by Bank Negara Malaysia (BNM) last week.

It is raising its BR to 3.9% per annum, from 3.65% previously, and its BLR to 6.85% per annum from 6.6%.

At the same time, it will also be raising its fixed deposit rates by 20bps.

The group said in a press statement today the revisions apply to RHB Bank Bhd, RHB Islamic Bank Bhd, and RHB Investment Bank Bhd.

Last Thursday, BNM raised the OPR by 25bps to 3.25% from 3%, the first rate hike it undertook since July 10, 2014.

RHB is the fifth bank to raise its interest rates following BNM's decision, after CIMB, Maybank, OCBC and Hong Leong announced similar moves recently. — theedgemarkets.com

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