KUCHING: Hong Leong Bank Bhd (HLB) has also slashed its key interest rates following Bank Negara Malaysia’s (BNM’s) 25 basis point cut off its Overnight Policy Rate (OPR).
The bank announced that effective July 14, 2025, the Standardised Base Rate (SBR) for Hong Leong Bank and Hong Leong Islamic Bank will be lowered to 2.75 per cent.
Meanwhile, it added, the Base Rate (BR) and Islamic Base Rate (IBR) will be adjusted to 3.63 per cent, down from 3.88 per cent.
“Additionally, loans and financing linked to the Base Lending Rate (BLR) and Islamic Financing Rate (IFR) will decrease to 6.64 per cent, down from 6.89 per cent,” it said.
Commenting on the update, HLB’s Group Managing Director and Chief Executive Officer, Kevin Lam, said the update in OPR highlighted the dynamic nature of monetary policy and its impact on Malaysia’s economic vitality.
“In today’s evolving economic climate, monetary policy adjustments are essential for maintaining stability and fostering sustainable growth.
“At Hong Leong Bank, we see this rate revision as a strategic alignment to secure the vitality of economic activity and strengthen the nation’s growth trajectory,” he said.
For the record, on July 9, BNM reduced the OPR by 25 basis points to 2.75 per cent, which stand at 3 per cent before the adjustment.
Since March 2023, this will be the first time BNM’s OPR has dropped under 3 per cent.
