Agrobank Reduces Base Rate and Base Financing Rate

KUALA LUMPUR – Agrobank today announced its latest financing rate by reducing the Base Rate (BR) to 3.35% and Base Financing Rate (BFR) to 6.50%.

This is in response to the recent announcement made by Bank Negara Malaysia (BNM) on Overnight Policy Rate (OPR) which was cut by 25-basis points from 3.00% to 2.75%.

According to Khadijah Iskandar, Covering Duties of President / Chief Executive Officer of Agrobank, the Bank’s revised BR and BFR were effective on 3 February 2020.

“As a Development Financial Institution (DFI) with a primary focus on agriculture sector, the OPR cut is timely and expected to benefit agropreneurs in developing and growing their businesses and at the same time may spur the nation’s economic growth,” said Khadijah.

“As we focus on providing financings and services throughout the agriculture value chain, we believe this reduction is significant for us to provide holistic financial solutions and services beyond banking to various segments of agriculture community including micro and SME businesses,” she added.