CIMB to lower rates from May 15

Potential overhang well mitigated by adequate bond conversion maturity period.

KUALA LUMPUR: CIMB Bank Bhd and CIMB Islamic Bank Bhd will decrease their base rate, fixed deposit/fixed return income account-i board rates, base lending rate and base financing rate by 0.25% effective May 15, following Bank Negara recent decision to lower the Overnight Policy Rate (OPR) by 25 basis points.

In a statement yesterday, CIMB said the 0.25% reduction across the board is to help achieve the corresponding effect of monetary policy transmission intent by BNM’s Monetary Policy Committee.