AFFIN Bank Bhd and Affin Islamic Bank Bhd will reduce their base lending rate and base financing rate respectively by 40 basis points to 5.5 per cent from 5.9 per cent.
reduction will take effect from March 2, 2009, the banks said in a statement today, adding that this followed the downward revision of Bank Negara Malaysia's overnight policy rate (OPR) recently.
"The reduction will afford greater savings to Affin Bank and Affin Islami ccustomers through lower financing costs, therefore passing on the savings we achieved from the OPR reduction to and for the benefit of our customers," said managing director and chief executive officer Datuk Seri Abdul Hamidy Hafiz. - BERNAMA