RHB Bank reduces BR to 2.5% following OPR cut

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KUALA LUMPUR (June 7): RHB Bank Bhd will be revising its base rate (BR) and base lending rate (BLR) downwards by 25 basis points (bps) effective July 13, following today’s cut in in the Overnight Policy Rate (OPR).

In a statement, the bank said RHB Bank Bhd, RHB Islamic Bhd and RHB Investment Bank Bhd will cut their BR to 2.50% per annum, from 2.75% at present.

They will also revise their BLR to 5.45% per annum, from 5.70%.

“In line with the revision, RHB Bank’s fixed deposit rates will also be revised downwards by 25 basis points effective July 13,” it added.

Earlier today, Bank Negara Malaysia announced a 25 bps cut in the OPR to a record low of 1.75%.

The central bank has made four rate cuts this year, bringing down the OPR by 125 bps.

Shares of RHB Bank closed 0.20% or one sen higher at RM4.98 today, valuing the group at RM19.97 billion. The counter saw 6.51 million shares traded.

Read also:
BNM cuts OPR by 25bps to record low of 1.75% 

Will another OPR cut be of much help?