Friday, January 30, 2009

AmBank reduces BLR by 55 bps

Funny bank with slightly higher BLR compared to other major banks.

KUALA LUMPUR: AmInvestment Bank Group has reduced its Base Lending Rate (BLR) by 55 basis points (bps) to 6% per annum, from the current 6.55% per annum.

It said on Friday the revised BLR would take effect from Feb 10.

It added the revision was in view of Bank Negara’s reduction in the Overnight Policy Rate (OPR) by 75bps, reducing the Statutory Reserve Requirement from 3.5% to 2% and term deposit rates by 50bps last week.

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