Maybank Raises BLR To 5.80 Pct

Maybank is revising its Base Lending Rate (BLR) from 5.55 per cent per annum currently to 5.80 per cent per annum effective tomorrow.

The Base Financing Rate (BFR) of Maybank Islamic Bhd would similarly be revised from 5.55 per cent to 5.80 per cent, Maybank said in a statement on Monday.

Maybank President and Chief Executive Officer Datuk Seri Abdul Wahid Omar said the interest rate revision was based on the recent adjustment in the Overnight Policy Rate.

"We expect to see better growth from our core business segments, leveraging on the improving economic environment and as more customers take advantage of the diversity of our product and service offerings," he said.

The last time Maybank and Maybank Islamic changed their BLR and BFR respectively was on March 2, 2009 when the rates were revised from 5.95 per cent to 5.55 per cent.