A handout photo shows Menara OCBC in Kuala Lumpur.
KUCHING (Sept 12): OCBC Bank (Malaysia) Berhad (OCBC Bank) and its Islamic banking subsidiary OCBC Al-Amin Bank Berhad will correspondingly increase the standardised base rate (SBR), base rate (BR), and base lending rate (BLR)/base financing rate (BFR) by 0.25 per cent effective Sept 14.
This is in line with Bank Negara Malaysia’s recent 0.25 per cent Overnight Policy Rate (OPR) increase.
A statement today said all loans and financing rates based on SBR, BR, and BLR/BFR will correspondingly increase by the same rate.
Similarly, all conventional fixed deposit and Islamic time deposit board rates will also increase by 0.25 per cent on the same day.
With the above, OCBC Malaysia’s SBR increases from 2.25 per cent to 2.5 per cent, BR from 3.08 per cent to 3.33 per cent, and its BLR/BFR from 6.01 per cent to 6.26 per cent.
Separately, the SBR for Hong Leong Bank and Hong Leong Islamic Bank (HLB) will be raised to 2.5 per cent following the latest update in Bank Negara Malaysia’s OPR by 25 basis points (bps).
According to a statement today, HLB’s BR and IBR will be revised to 3.38 per cent from 3.13 per cent.
Similarly, loans and financing based on the BLR and IFR will be revised to 6.39 per cent from 6.14 per cent.
These changes will take effect tomorrow (Sept 13).
The adjustment in rates is in line with the latest OPR change.