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Higher loan growth can offset impact of rate cut

KUALA LUMPUR: Banks in Malaysia will benefit from the recent cut in the overnight policy rate (OPR) if the move results in a higher loan growth, according to AmBank Group chief executive officer Datuk Sulaiman Mohd Tahir (pic).

Sulaiman also hinted that AmBank will be lowering its base rate by this week, following the lending rate cuts by other major banks in the country.

RHB Bank lowers lending, FD rates by 0.2%

KUALA LUMPUR: RHB Banking Group has lowered its base rate (BR) and base lending rate (BLR) downwards by 20 basis points or 0.2% effective on Monday.

HB Banking Group has lowered its base rate (BR) and base lending rate (BLR) downwards by 20 basis points or 0.2% effective on Monday.

UK lawmakers square up to regulator over duty of care for banks

LONDON: A legal duty for banks to act in the best interests of their customers may be needed, British lawmakers said on Monday, piling pressure on regulators to step up protection of consumers after a string of mis-selling scandals spanning decades.

"All retail financial services, no matter which sector of the industry they operate in, should be acting in their customers’ best interests at all times," parliament's Treasury Select Committee said in a report on financial inclusion.  "If the Financial Conduct Authority (FCA) is unable to enforce such behaviour in firms under its current rule book and principles, the committee would support a legal duty of care," it said. (A maintenance worker cleans the entrance area of the headquarters of the new Financial Conduct Authority (FCA) in the Canary Wharf business district of London -Filepic)

KL among top e-commerce cities in the region

KUALA Lumpur is ranked one of the top e-commerce cities in South-East Asia, but a lack of trust among consumers pose a challenge for the industry’s growth, says a recent study by YCP Solidiance.