February 27, 2009

AFFINBANK Lowers Base Lending Rate to 5.50%

KUALA LUMPUR - Following the downward revision of Bank Negara Malaysia's Overnight Policy Rate (OPR) recently, Affin Bank Berhad (AFFINBANK) and Affin Islamic Bank Berhad (AFFIN ISLAMIC) will reduce their Base Lending Rate (BLR) and Base Financing Rate (BFR) by 40 basis points from 5.90% to 5.50% with effect from 2 March 2009.

"The reduction in our BLR and BFR will afford greater savings to AFFINBANK and AFFIN ISLAMIC customers through lower financing costs, therefore passing on the savings we achieve from the OPR reduction to and for the benefit of our customers. With this reduction, AFFINBANK and AFFIN ISLAMIC’s BLR and BFR will respectively remain one of the lowest amongst Malaysian banks. We want our customers to know that we are an all weather bank; we are there to support them in good times as well as challenging times," said Dato’ Sri Abdul Hamidy Hafiz, MD/CEO of AFFINBANK.

The reduction of BLR and BFR supports Bank Negara Malaysia’s objective of stimulating domestic economic activity and a more accommodative monetary policy.

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