Hong Leong Bank and Hong Leong Islamic Bank Update BR/IBR and BLR/IFR
Hong Leong Bank and Hong Leong Islamic Bank Update
BR/IBR and BLR/IFR
Kuala Lumpur, 8 July 2022: Hong Leong Bank and Hong Leong Islamic Bank (“HLB” or the “Bank”) will be revising the Base Rate (“BR”) and Islamic Base Rate (“IBR”) to 3.13% from 2.88% following the latest increase in Bank Negara Malaysia’s Overnight Policy Rate (“OPR”) by 25 bps.
Similarly, loans and financing based on the Base Lending Rate (“BLR”) and Islamic Financing Rate (“IFR”) will be revised to 6.14% from 5.89%.
These changes will take effect on 12 July 2022.
“As the domestic economy continues to recover and stabilise, the adjustment in monetary policy is required to help maintain a sustainable growth whilst balancing it with price stability. The revised rates are still business-friendly for our SME and Corporate borrowers who are looking to strengthen and expand their business,” said Domenic Fuda, Group Managing Director and Chief Executive Officer of HLB.
