news

Maybank further reduces base lending rate

KUALA LUMPUR (May 17): After a 20 basis points (bps) cut to its Base Rate (BR) and Base Lending Rate (BLR) just a week ago, Malayan Banking Bhd (Maybank) has reduced both rates by a further 5 bps each.

The cuts are effective today and reduce the BR and BLR to 3% and 6.65% respectively, the bank said in a press statement today.

“Similarly, Maybank’s Islamic BR and Base Financing Rate (BFR) will be reduced by another 5 bps to 3% and 6.65% respectively,” it added.

On May 8, Maybank announced it would revise both its BR and BLR down in line with Bank Negara Malaysia’s revision of its overnight policy rate (OPR) to 3% on May 7.

Its Islamic BR and BFR had also been lowered to 3.05% and 6.7% per annum, while its fixed deposit rates were adjusted down 20 bps.

Shares of Maybank closed up 4 sen at RM9 today to give the bank a market capitalisation of RM99.45 billion.

Click here for more property stories.

SHARE
RELATED POSTS
  1. Fund transfer document to federal minister forged, says Maybank
  2. Malaysia’s economic fundamentals far stronger than in 1998 — Maybank IB CEO
  3. Maybank KL branch assistant manager verifies transactions involving Najib and SRC International