Bank Islam cuts lending rates after OPR reduction
Following the revision, the bank's SBR, BR and BFR will be reduced to 2.75 per cent, 3.52 per cent and 6.47 per cent per annum, respectively.
The adjustment follows Bank Negara Malaysia's decision to lower the Overnight Policy Rate (OPR) from 3.00 per cent to 2.75 per cent earlier today.
Bank Islam group chief executive officer Datuk Mohd Muazzam Mohamed said the rate cut is expected to provide financial relief and support overall economic activity.
"As a purpose-driven and responsible bank, we view the OPR reduction as an opportunity to continue our role in enabling financial resilience, particularly for those most affected by the rising cost of living," he said in a statement.
Muazzam added that the lower OPR gives the bank greater flexibility to grow its financing portfolios and enhance customer engagement, all while maintaining asset quality.
It will also support efforts to reach underbanked communities through digital platforms such as BIMB Mobile and Be U by Bank Islam.
"Bank Islam remains committed to advancing economic growth while staying responsive to the evolving needs of our customers.
"Our role extends beyond offering affordable financing. We aim to contribute to a more inclusive and sustainable economic ecosystem for all," said Muazzam.
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