The Star Online
Tuesday November 25, 2008
KUALA LUMPUR Malayan Banking Bhd has reduced its base lending rate by 25 basis points from 6.75% to 6.5% effective Dec 1.
The decision was made following Bank Negara’s move to lower the overnight policy rate by 25 basis points to 3.25% on Monday. The base financing rate of Maybank Islamic Bhd would also be revised downward by 25 basis points from 6.75% to 6.5% effective Dec 1. Maybank’s president and CEO Datuk Seri Abdul Wahid Omar said the move would benefit borrowers as interest rates on all loans pegged to the bank’s BLR would also be adjusted accordingly.
‘It is a decisive step to the advantage of our borrowers as well as a means to spur economic and business growth for the various sectors,” he said.
He added that both Maybank and Maybank Islamic would continue to review the market environment and leverage on its core strength to provide customers more financial support in these difficult times.
Wahid added Maybank intended to open another nine branches in the next three year in Cambodia to strengthen its presence in the regional market.
Maybank has two branches in Cambodia and plans are in the pipeline to open another one early next year.
Tuesday November 25, 2008
KUALA LUMPUR Malayan Banking Bhd has reduced its base lending rate by 25 basis points from 6.75% to 6.5% effective Dec 1.
The decision was made following Bank Negara’s move to lower the overnight policy rate by 25 basis points to 3.25% on Monday. The base financing rate of Maybank Islamic Bhd would also be revised downward by 25 basis points from 6.75% to 6.5% effective Dec 1. Maybank’s president and CEO Datuk Seri Abdul Wahid Omar said the move would benefit borrowers as interest rates on all loans pegged to the bank’s BLR would also be adjusted accordingly.
‘It is a decisive step to the advantage of our borrowers as well as a means to spur economic and business growth for the various sectors,” he said.
He added that both Maybank and Maybank Islamic would continue to review the market environment and leverage on its core strength to provide customers more financial support in these difficult times.
Wahid added Maybank intended to open another nine branches in the next three year in Cambodia to strengthen its presence in the regional market.
Maybank has two branches in Cambodia and plans are in the pipeline to open another one early next year.
No comments:
Post a Comment