NOTICE: REDUCTION IN HBZ BASE RATE FOR GBP

Dear Customer,

We are writing to inform you of an important update regarding your account with us. On 1st August 2024, the Bank of England (BoE) announced a decrease in its base rate from 5.25% to 5.00%. We have taken into consideration the said rate reduction by the BoE and as a commitment to provide you with competitive rates have taken a decision to reduce our GBP HBZ Base Rate.

At the time of BoE rate increases, you will recall that we always provided a 60 days’ notice to increase our HBZ Base Rate. However, to ensure that you receive the benefit of rate reduction at an early date the Bank has decided to decrease ‘HBZ GBP Base Rate’ by 0.25% effective from 25 September 2024:

CURRENCY	CURRENT HBZ BASE RATE	NEW HBZ BASE RATE	INTEREST RATE DECREASE	EFFECTIVE DATE
Pound Sterling (GBP)	5.25%	5.00%	0.25%	25th September 2024 HBZ Base Rate will be 5.00%

This applies to arranged and/or temporary borrowing and/or trade finance facilities in GBP as per the table above. There will be no impact if you do not have any arranged and/or temporary borrowing and/or trade finance facility(ies). For full information in this regard, please refer to the table above.

We endeavour to provide you with the best service and thank you for your trust and continued business with us. If you have any questions, please do not hesitate to contact your Relationship Manager or any other member of the service team at the Branches.

Your sincerely,

Habib Bank Zurich plc.
United Kingdom

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