Business Services Industry
ABN AMRO raises BLR, other banks to follow? (HL), BUSINESS TIMES
Business Times (Malaysia), August, 2000 by Evelyn Fernandez
Business Times (Malaysia) 08-10-2000 IT IS still unclear whether other banks with a base lending rate (BLR) below the prevailing market level will take ABN AMRO Bank Bhd's cue to nudge their BLRs higher. In an apparent effort to offset tightening margins arising from the recent increase in deposit rates, ABN AMRO has announced that it is increasing its BLR by 30 basis points to 6.80 per cent effective today.
It had revised the rate down to 6.50 per cent on May 12. The BLR serves as an anchor for all lending rates. It is based on the central bank's intervention rate which currently stands at 5.50 per cent, and caps the BLR at 6.80 per cent. "At the suggestion of Bank Negara Malaysia to review our fixed deposit rates, ABN AMRO took the...
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