RHB adjusts rates following OPR cut

KUALA LUMPUR (March 4): RHB Banking Group is revising its base rate (BR) and base lending rate (BLR) downward by 25 basis points, in line with the reduction of the overnight policy rate as announced by Bank Negara Malaysia on Tuesday.

This means RHB Bank Bhd, RHB Islamic Bank Bhd and RHB Investment Bank Bhd will all see their BR revised to 3.25% per annum from 3.5% previously, while their BLR will be reduced to 6.2% from 6.45%.

The revision, which will take effect on March 9, includes a 25bps reduction in RHB Bank's fixed deposit rates.

RHB Bank's shares settled 7 sen or 1.24% higher at RM5.71 today, giving it a market capitalisation of RM22.9 billion.

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