Foreign banks in Malaysia raise their cost of borrowing
OCBC, UOB and, from Friday, HSBC, in Malaysia raise their base rates and consequently, their effective lending rates
Kuala Lumpur
BORROWING costs are set to rise in Malaysia, with a number of banks having raised their base rates (BR), partly as a result of a liquidity crunch brought about by a shortage of ringgit and US dollars, analysts say.
As of last week, foreign banks including OCBC Bank (Malaysia) and United Overseas Bank (Malaysia) had bumped up their BRs; HSBC Bank Malaysia will make its change on Friday.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
UBS weighs synthetic risk transfer amid capital boost proposals
Money laundering accused Zhang Ruijin slapped with 5 more charges days before scheduled guilty plea
Japanese yen slides back towards 34-year low after brief spike
China’s Bank of Communications Q1 profit rises 1.44%
HSBC’s private bank shuts independent asset management business in HK, Singapore
Nomura Q4 net profit jumps almost eight-fold on retail income surge