Public Bank: Minimal impact if OPR is cut

KUALA LUMPUR: There will only be a minimal impact upon Public Bank Bhd should Bank Negara decide to lower the overnight policy rate (OPR), said its MD and CEO Tan Sri Tay Ah Lek.

“There will only be a small and only temporary impact on the net interest margins which is insignificant compared to the overall earnings of the bank,” he said to a question at the company’s AGM in the capital city earlier today.

“The temporary impact is due to the time lag for the repricing of the existing fixed deposits. This is a very insignificant impact to our earnings,” Tay added.