Malaysia

It is the first bank in Malaysia to do so.

A perfect storm for card adoption is brewing in the country.

Proceeds will be used for SDG-compliant projects.

Workers can save money from foreign exchange fees and transportation costs.

The operating environment remains challenging, the bank’s founder said.

The Malaysia lender saw its Q1 profits fall compared to the same period last year.

Regulatory limits and competition make it unlikely to break into the mainstream until 2026.

And Goldman Sachs reach a $79.5m shareholder settlement over 1MDB fiasco.

The new base rate will be 2.25%, and base lending rate at 5.72%   Public Bank is increasing its Base Rate (BR), Base Lending Rate (BLR) / Base Financing Rate (BFR) by 0.25%, effective 13 May.   The bank’s new BR will be at 2.52% from 2.27%, whilst the BLR/BFR will be at 5.72% from 5.47%.   The bank’s fixed deposit rates will also be increased by 0.25% across all tenures.   The move came following Bank Negara Malaysia’s Overnight Policy Rate (OPR) hike by 25 basis points from 1.75% to 2.00% on 11 May. 

Two will be Islamic digital banks.

Boost will own 60% of the digital bank whilst RHB will own 40%.

He formerly served as managing director of group wholesale banking.

Government support pushes the sector to an upward trajectory.

He rejoins Maybank from RHB, where he served as group managing director.

Since 2018, the Bank has embarked on a digital transformation journey to deliver seamless customer experience and frictionless banking.

Choy Khai Choon also serves as independent non-exec chairman at Zurich Life.