KUALA LUMPUR: Malaysian banks revised upwards their lending rates following Bank Negara Malaysia's decision yesterday to increase the Overnight Policy Rate (OPR) by 25 basis points (bps).

Malayan Banking Bhd (Maybank) will revise its standardised base rate (SBR), base rate (BR) and base lending rate (BLR) by 25bps effective September 12 2022, upwards.

Maybank said its SBR and BR would be increased from 2.25 per cent per annum to 2.50 per cent per annum, while its BLR will be revised from 5.90 per cent per annum to 6.15 per cent per annum.

Similarly, the Islamic SBR and BR will be increased by 25bps from 2.25 per cent per annum to 2.50 per cent per annum, while the Islamic base financing rate (BFR) will be increased from 5.90 per cent per annum to 6.15 per cent per annum, respectively.

In line with the revision, Maybank and Maybank Islamic's fixed deposit rates will also be adjusted effective September 12, 2022.

The last revision to Maybank's BR was made on July 8, 2022, when it was increased from 2.00 per cent per annum to 2.25 per cent per annum following an OPR increase by the same quantum.

CIMB Bank Bhd and CIMB Islamic Bank Bhd said it would affect a corresponding 25bps increase in their SBR, BR, fixed deposit, and fixed return income Account-i Board Rates.

"Similarly, all financing facilities based on the BLR and BFR will be increased by 0.25 per cent. All rate changes will take effect on September 13, 2022," the bank said.

RHB Banking Group will revise its SBR, BR and BLR/BFR upwards by 25bps effective September 12, 2022.

Subsequently, RHB Bank Bhd, RHB Islamic Bank Bhd and RHB Investment Bank Bhd will increase their SBR from 2.25 per cent to 2.50 per cent, BR from 3.00 per cent to 3.25 per cent per annum, and they will also revise the BLR/BFR from 5.95 per cent to 6.20 per cent per annum.

In line with the revision, RHB Bank and RHB Islamic Bank's fixed deposit rates will also be revised upwards.

Meanwhile, Public Bank Bhd said it would increase its SBR, BR and BLR/BFR by 0.25 per cent effective September 12, 2022.

The bank's SBR will be 2.50 per cent in tandem with the OPR, while the BR will increase to 3.02 per cent from 2.77 per cent, and the BLR/BFR will increase to 6.22 per cent from 5.97 per cent.

At the same time, Public Bank's fixed deposit rates will also be adjusted upwards, effective on the same date.

Bank Muamalat Malaysia Bhd's SBR, BR and BFR will be revised by 25bps from 2.25 per cent per annum to 2.50 per cent per annum, 3.06 per cent per annum to 3.31 per cent per annum and 6.06 per cent per annum to 6.31 per cent per annum respectively, with effect from September 13, 2022.

Bank Muamalat said this would affect all floating rate financing packages pegged to the SBR, BR and BFR.

In line with the increase in SBR, BR and BFR, Bank Muamalat's FTA-i deposit rates will also be revised accordingly.

Bank Muamalat president and chief executive officer Khairul Kamarudin said the rate revision corresponds with the increase in OPR to 2.50 per cent as announced by Bank Negara.

Affin Bank Bhd, Affin Islamic Bank Bhd, and Affin Hwang Investment Bank Bhd will revise their loan and financing reference rates upward by 25bps basis points effective September 12, 2022.

In line with the revision, Affin Bank fixed deposit and Affin Islamic Term Deposit-i Board Rates will also be adjusted upwards, effective September 12, 2022.