Public Bank to increase financing reference rates by 25bps on Sept 12

KUALA LUMPUR: Public Bank and Public Islamic Bank will increase their standardised base rate (SBR), base rate (NR) and base lending rate (BLR)/ base financing rate (BFR) by 0.25% effective Sept 12, 2022.

The bank said the latest increase is in line with Bank Negara's increase in the overnight policy rate by 25 basis points to 2.5% on Sept 8, 2022.

"The Bank’s SBR will be 2.50% in tandem with the OPR while the BR will increase to 3.02% from 2.77% and the BLR/BFR will increase to 6.22% from 5.97%.

"At the same time, Public Bank’s fixed deposit rates will also be adjusted upwards, effective on the same date," it said in a statement.