Latest news with #AFFIN
Borneo Post
21-05-2025
- Business
- Borneo Post
Affin yet to see major contribution from Sarawak govt despite strong CASA growth
While Affin's Sarawak presence continues to strengthen through increased non-state-backed deposits, synergies from its strategic push into the state have yet to be fully realised. KUCHING (May 21): Affin Bank has yet to see meaningful contribution from the Sarawak government in its loans and deposits despite healthy current account savings account (CASA) growth and steady earnings, says analysts with Kenanga Research. The research house noted that while Affin's Sarawak presence continues to strengthen through increased non-state-backed deposits, synergies from its strategic push into the state have yet to be fully realised. 'We gathered that the Sarawak state government is still not a significant component in AFFIN's loans and deposit books, suggesting that synergies have yet to be reflected,' it said in a note on Tuesday. To recap, the bank has posted first-quarter financial year 2025 (1QFY25) net profit of RM124.1 million supported by stronger net income, which was in line with expectations and accounting for 20 per cent of Kenanga's full-year forecast and 22 per cent of the consensus forecast. Analysts highlighted that Affin has already surpassed its full-year CASA target of 31 per cent, with deposits in Sarawak helping to offset a decline in working capital loans. These now make up 16 per cent of the group's loan portfolio, amid uncertainties in global trade. 'This comes even before AFFIN implements payroll services to accommodate up to 30,000 civil servants in the state,' it added. Similarly, TA Securities viewed the group's CASA performance positively with its growth driven by strong corporate flows. 'This could improve further with the potential addition of Sarawak's payroll mandate,' it said. Kenanga Research added that a stronger relationship with the Sarawak government could serve as a key catalyst for the bank moving forward. 'Near-term catalysts could emerge from the Sarawak State Government's eventual large CASA deposits injection into Affin. 'From our own model estimates, every RM1 billion in new CASA deposits could lower cost of funds by 3 basis points and generate a return on equity (ROE) improvement of 10 basis points,' the research house added. Affin Bank Kenanga Research
BusinessToday
19-05-2025
- Business
- BusinessToday
Affin Group's 1QFY25 Profit Rises To RM124 Million Stemming from Better Net Income
Affin Bank Tower at TRX Affin Group (AFFIN) has announced a Profit Before Tax (PBT) after zakat of RM178.2 million for the first quarter ended March 31, 2025. This represents a RM34.1 million or 23.7% increase compared to the RM144.0 million recorded in the same period last year. The increase in PBT was primarily driven by a higher net income of RM39.4 million. The Group's gross loans and financing grew by 7.1% year-on-year, reaching RM72.9 billion as of March 31, 2025, compared to RM68.0 billion as of March 31, 2024. Customer deposits increased by 5.2% to RM75.5 billion. The Current Account and Savings Account (CASA) ratio showed significant improvement, rising to 32.2% as of March 31, 2025, from 24.9% as of March 31, 2024. Datuk Wan Razly Abdullah, President & Group Chief Executive Officer of AFFIN Group, stated that the first-quarter performance reflects the continued execution of the AFFIN Axelerate 2028 (AX28) Plan, with PBT increasing by 23.7% year-on-year to RM178.2 million. He attributed this growth to higher net interest income, an improved funding mix, and a stronger contribution from associates. Despite the tight monetary environment and global macroeconomic headwinds, the Group maintained prudent cost and credit discipline. While remaining cautious about the near-term outlook due to external volatility, AFFIN Group expresses confidence in its ability to navigate the landscape, supported by healthy asset quality, a well-diversified balance sheet, and disciplined execution. Related
Zawya
22-04-2025
- Business
- Zawya
AFFIN Launches "AFFIN 50 Years, 50 Prizes" Golden Jubilee Campaign, Celebrating 50 Years Of ‘Always About You' With RM1 Million Grand Prize
KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 22 April 2025 - AFFIN Group ("AFFIN" or "the Group") is celebrating its 50th anniversary with the launch of the " AFFIN 50 Years, 50 Prizes" Golden Jubilee Campaign, a year-long celebration rewarding customers with exclusive prizes, strengthening financial literacy, and empowering Malaysians on their financial journey. Running from 1 March 2025 to 31 January 2026, this milestone campaign features 50 exclusive prizes, including a Grand Prize of RM1,000,000. The " AFFIN 50 Years, 50 Prizes" Golden Jubilee Campaign invites customers to participate by performing eligible transactions, such as maintaining a minimum Month-End Balance (MEB) of RM5,000 in their AFFIN Current or Savings accounts. With every eligible transaction, customers earn entries for a chance to win. Datuk Wan Razly Abdullah, President & Group Chief Executive Officer of AFFIN Group, said, "For 50 years, AFFIN has underscored its commitment to strengthening financial resilience, fostering economic growth, and delivering value to our customers wherever they are. The " AFFIN 50 Years, 50 Prizes" Golden Jubilee Campaign reflects our dedication to creating opportunities, driving progress, and empowering people with financial solutions that meet their evolving needs. As we look ahead, we remain focused on building a future-ready financial ecosystem that serves a wider community, aligned with the strategic pillars of our AFFIN Axelerate 2028 (AX28) Plan, which are Unrivalled Customer Service, Digital Leadership, and Responsible Banking With Impact." Beyond this flagship campaign, AFFIN is introducing a suite of initiatives tailored to meet the diverse financial needs of its customers, including Jalan-Jalan Raya AFFIN with Naelofar, the Porsche Cashback Campaign, the 1-for-1 Business Class offer with AFFIN Credit Card, and many more to be launched throughout the year. These initiatives are spearheaded by AFFIN's key business divisions such as Deposit Business, Cards, Personal Financing, Mortgage, Auto Finance, Corporate Banking, Enterprise Banking and Wealth Management, in collaboration with Affin Hwang Investment Bank Berhad. Learn more about how customers can benefit from the " AFFIN 50 Years, 50 Prizes" Golden Jubilee Campaign and start earning rewards today by visiting or following @Affinmy on social media. Hashtag: #affinbank The issuer is solely responsible for the content of this announcement. About AFFIN Group Incorporated on 23 October 1975, AFFIN Group proudly commemorates its 50th anniversary in 2025, a milestone that reflects five decades of steadfast dedication to growth, innovation, and financial excellence, all in line with its vision to be the Most Creative and Innovative Financial Company in Malaysia. Affin Bank Berhad operates as the financial holding entity of Affin Islamic Bank Berhad, Affin Hwang Investment Bank Berhad and Affin Moneybrokers Sdn Bhd. Generali Insurance Malaysia Berhad and Generali Life Insurance Malaysia Berhad are affiliated companies of Affin Bank Berhad. AFFIN Group provides an array of financial products and services catering to individual, enterprise, commercial, and corporate clients. The focus market segments are categorised under essential business units such as Community Banking, Enterprise Banking, Corporate Banking, Treasury, and Investment Banking. For more information, please visit AFFIN Group
The Sun
22-04-2025
- Business
- The Sun
AFFIN Launches 'AFFIN 50 Years, 50 Prizes' Golden Jubilee Campaign, Celebrating 50 Years Of ‘Always About You' With RM1 Million Grand Prize
KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 22 April 2025 - AFFIN Group ('AFFIN' or 'the Group') is celebrating its 50th anniversary with the launch of the 'AFFIN 50 Years, 50 Prizes' Golden Jubilee Campaign, a year-long celebration rewarding customers with exclusive prizes, strengthening financial literacy, and empowering Malaysians on their financial journey. Running from 1 March 2025 to 31 January 2026, this milestone campaign features 50 exclusive prizes, including a Grand Prize of RM1,000,000. The 'AFFIN 50 Years, 50 Prizes' Golden Jubilee Campaign invites customers to participate by performing eligible transactions, such as maintaining a minimum Month-End Balance (MEB) of RM5,000 in their AFFIN Current or Savings accounts. With every eligible transaction, customers earn entries for a chance to win. Datuk Wan Razly Abdullah, President & Group Chief Executive Officer of AFFIN Group, said, 'For 50 years, AFFIN has underscored its commitment to strengthening financial resilience, fostering economic growth, and delivering value to our customers wherever they are. The 'AFFIN 50 Years, 50 Prizes' Golden Jubilee Campaign reflects our dedication to creating opportunities, driving progress, and empowering people with financial solutions that meet their evolving needs. As we look ahead, we remain focused on building a future-ready financial ecosystem that serves a wider community, aligned with the strategic pillars of our AFFIN Axelerate 2028 (AX28) Plan, which are Unrivalled Customer Service, Digital Leadership, and Responsible Banking With Impact.' Beyond this flagship campaign, AFFIN is introducing a suite of initiatives tailored to meet the diverse financial needs of its customers, including Jalan-Jalan Raya AFFIN with Naelofar, the Porsche Cashback Campaign, the 1-for-1 Business Class offer with AFFIN Credit Card, and many more to be launched throughout the year. These initiatives are spearheaded by AFFIN's key business divisions such as Deposit Business, Cards, Personal Financing, Mortgage, Auto Finance, Corporate Banking, Enterprise Banking and Wealth Management, in collaboration with Affin Hwang Investment Bank Berhad. Learn more about how customers can benefit from the 'AFFIN 50 Years, 50 Prizes' Golden Jubilee Campaign and start earning rewards today by visiting or following @Affinmy on social media. Hashtag: #affinbank The issuer is solely responsible for the content of this announcement.
Malay Mail
22-04-2025
- Business
- Malay Mail
AFFIN Launches "AFFIN 50 Years, 50 Prizes" Golden Jubilee Campaign, Celebrating 50 Years Of ‘Always About You' With RM1 Million Grand Prize
KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 22 April 2025 -is celebrating its 50th anniversary with the launch of the ", a year-long celebration rewarding customers with exclusive prizes, strengthening financial literacy, and empowering Malaysians on their financial journey. Running from 1 March 2025 to 31 January 2026, this milestone campaign features, including aThe "invites customers to participate by performing eligible transactions, such as maintaining a minimum Month-End Balance (MEB) of RM5,000 in their AFFIN Current or Savings accounts. With every eligible transaction, customers earn entries for a chance to win."For 50 years, AFFIN has underscored its commitment to strengthening financial resilience, fostering economic growth, and delivering value to our customers wherever they are. The "reflects our dedication to creating opportunities, driving progress, and empowering people with financial solutions that meet their evolving needs. As we look ahead, we remain focused on building a future-ready financial ecosystem that serves a wider community, aligned with the strategic pillars of our AFFIN Axelerate 2028 (AX28) Plan, which are, and."Beyond this flagship campaign, AFFIN is introducing a suite of initiatives tailored to meet the diverse financial needs of its customers, including, the, the, and many more to be launched throughout the year. These initiatives are spearheaded by AFFIN's key business divisions such as Deposit Business, Cards, Personal Financing, Mortgage, Auto Finance, Corporate Banking, Enterprise Banking and Wealth Management, in collaboration with Affin Hwang Investment Bank more about how customers can benefit from the "and start earning rewards today by visiting or following @Affinmy on social #affinbank The issuer is solely responsible for the content of this announcement. About AFFIN Group Incorporated on 23 October 1975, AFFIN Group proudly commemorates its 50th anniversary in 2025, a milestone that reflects five decades of steadfast dedication to growth, innovation, and financial excellence, all in line with its vision to be the Most Creative and Innovative Financial Company in Malaysia. Affin Bank Berhad operates as the financial holding entity of Affin Islamic Bank Berhad, Affin Hwang Investment Bank Berhad and Affin Moneybrokers Sdn Bhd. Generali Insurance Malaysia Berhad and Generali Life Insurance Malaysia Berhad are affiliated companies of Affin Bank Berhad. AFFIN Group provides an array of financial products and services catering to individual, enterprise, commercial, and corporate clients. The focus market segments are categorised under essential business units such as Community Banking, Enterprise Banking, Corporate Banking, Treasury, and Investment Banking. For more information, please visit
