Maybank ups BLR by 25bp to 5.8%

KUALA LUMPUR: Malayan Banking Bhd will increase its base lending rate (BLR) by 25 basis points from 5.55% per annum to 5.80% per annum effective Tuesday, March 9.

Maybank said on Monday, the base financing rate (BFR) of Maybank Islamic Bhd would similarly be revised from 5.55% to 5.80% effective the same date.

Maybank president and chief executive officer Datuk Seri Abdul Wahid Omar said the interest rate revision was based on the recent adjustment in the overnight policy rate. The OPR was increased by 25 basis points to 2.5% last week.  

"We expect to see better growth from our core business segments, leveraging on the improving economic environment and as more customers take advantage of the diversity of our product and service offerings." he added.

The last change in BLR and BFR of Maybank and Maybank Islamic respectively was on March 2, 2009, when the rates were revised from 5.95% to 5.55%.