HLB: Rate cut will help rebuild finances

Group managing director Domenic Fuda (pic) said the bank could help with funds needed to strengthen customers’ businesses digitally.

KUALA LUMPUR: Hong Leong Bank Bhd (HLB) and Hong Leong Islamic Bank Bhd will be reducing the base rate and Islamic base rate to 2.88% from 3.38% effective May 12.

Loans and financing based on the base lending rate and Islamic financing rate will also be lowered to 5.89% from 6.39%. The rates of its fixed deposits will also be revised downwards by 50 basis points.