COVID–19 NEWS   S Korea’s new COVID-19 cases bounce back to over 10,000 amid resurgence woes | Italy's COVID-19 transmission rate rises for 4th consecutive week | N Korea's first COVID-19 cases traced to area bordering S Korea: State media | COVID: Rise in new infections, drop in death cases last week - Health DG | South Korea’s COVID-19 vaccine candidate inches closer to launch after experts' approval Recommendation | 

OCBC Bank to raise base rate by 0.25 pct following OPR revision

17/05/2022 12:40 PM

KUALA LUMPUR, May 17 (Bernama) -- OCBC Bank will be increasing its base rate (BR), base lending rate (BLR) and base financing rate (BFR) by 0.25 per cent tomorrow (May 18) following Bank Negara Malaysia’s announcement of a hike in the overnight policy rate (OPR) to 2 per cent from 1.75 per cent. 

OCBC Bank chief executive officer Datuk Ong Eng Bin said the increase in the OPR was a move by the central bank to curb inflationary pressures while focusing on efforts to promote the country’s economic recovery in transition to the endemic phase of COVID-19.

“OCBC Bank (Malaysia) Bhd (OCBC Bank) and its Islamic banking subsidiary, OCBC Al-Amin Bank Bhd (jointly, OCBC Malaysia) will also increase the BR, BLR and BFR by 0.25 per cent. 

“All BR, BLR and BFR-based lending and financing rates will be raised at the same rate,” he said in a statement today.

Ong also said that all conventional fixed deposit rates and Islamic term deposit trading rates will also be increased on the same day.

He added that after this move, OCBC Malaysia will increase its BR from 2.58 per cent to 2.83 per cent while the BLR and BFR will increase from 5.51 per cent to 5.76 per cent.




Bernama is the trusted source of reliable real-time comprehensive and accurate news for both the public and media practitioners. Our news is published at ; BERNAMA TV on: Astro Channel 502, unifi TV Channel 631, MYTV Channel 121 IFLIX; and Bernama Radio broadcasting locally on FM93.9 in Klang Valley, Johor (FM107.5), Kota Kinabalu (FM107.9) and Kuching (FM100.9).

Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter :, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial

© 2022 BERNAMA   • Disclaimer   • Privacy Policy   • Security Policy