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Affin Bank cuts BR, BLR effective today
Published on: Wednesday, July 20, 2016
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Kuala Lumpur: Affin Bank Bhd is lowering its base rate (BR) to 3.80 per cent per annum from 3.99 per cent, effective today (Wednesday), in line with the decrease in the overnight policy rate (OPR) by Bank Negara Malaysia.Along with this revision, the bank's base lending rate (BLR) and Affin Islamic Bank Bhd's base financing rate will also be reduced to 6.66 per cent per annum from 6.85 per cent, said Affin Bank in a statement here Tuesday.

"The window of opportunity is there amid stable inflation and few other favourable outlooks for BNM to pre-emptively reduce the OPR.

"This remains consistent with the Monetary Policy Committee's accommodative monetary stance to further strengthen the country's economy which is projected to grow between 4.00 per cent and 4.50 per cent in 2016," said Managing Director/Chief Exectuive Officer, Kamarul Ariffin Mohd Jamil.

He added the reduction in rates would also result in cost savings for the bank's customers in the long run and help grow their businesses further in this challenging environment. – Bernama




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