Hong Leong Bank revises base rate, BLR effective July 12

KUALA LUMPUR, July 8 (Bernama) --  Hong Leong Bank and Hong Leong Islamic Bank (HLB) will be revising their base rate and Islamic base rate to 3.13 per cent effective July 12 from 2.88 per cent currently following the latest 25-basis point increase in Bank Negara Malaysia’s Overnight Policy Rate.

In a statement today, HLB said similarly, loans and financing based on the base lending rate (BLR) and Islamic financing rate will be revised to 6.14 per cent from 5.89 per cent.

“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 small and medium enterprises and corporate borrowers who are looking to strengthen and expand their business,” said HLB group managing director and chief executive officer Domenic Fuda. 

-- BERNAMA