Malayan Banking, or Maybank, is the country’s biggest lender. It recently raised its average mortgage rate 2.0 percentage points below the bank’s base lending rate.
On mortgage sales: “If we look at our own mortgage performance last year, we had a decline in our housing loans. In this current financial year, with all the aggressive marketing which we have already taken, we have seen a seven percent growth in our mortgages.”
On mortgage lending rates: “Currently, Malaysia has one of the lowest rates in and around the region. We can’t speak for other banks, but from our own perspective there was a time when we were looking at base minus 2.2 percentage points. We adjust based on competition. If we are able to get sufficient number of mortgages at a slightly higher pricing, obviously that’s something which we look at.”
On other lending rates: “We increased mortgage rates slightly, but we are bringing down our SME and corporate loan rates, for example. So you have to look at it from that perspective. As we are able to get more and more loans and as we reach an optimal level, so we will adjust our pricing accordingly.”
By Bloomberg
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