NOTICE: INCREASE IN HBZ BASE RATE FOR GBP

Dear Customer,

The Bank of England (BoE) along with other major central banks have been increasing interest rates since 2021. We had continued to absorb some of the impact of previous increases in interest rate by keeping the HBZ Base Rate below the BoE rate. However, as inflation continues to remain at a high level our costs have been significantly impacted.

In light of the above, we are writing to inform you that the Bank has decided to increase ‘HBZ Base Rate’ by 0.25% for GBP effective from 6th December 2023:

CURRENCY POUND STERLING (GBP)	CURRENT HBZ BASE RATE	NEW HBZ BASE RATE	INTEREST RATE INCREASE	EFFECTIVE DATE
HBZ Base Rate increase communicated via this letter	5.00%	5.25%	0.25%	6th December 2023 HBZ Base Rate will be 5.25%

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 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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