Latest news with #WanRazly
The Star
20-05-2025
- Business
- The Star
Affin Bank cautious yet confident amid volatility
Affin Bank president and group CEO Datuk Wan Razly Abdullah PETALING JAYA: Affin Bank Bhd recorded double-digit year-on-year (y-o-y) growth in pre-tax profits to RM178.2mil for its first quarter ended March 31, 2025 (1Q25). The 23.7% increase was attributed to higher net income of RM39.4mil and a stronger share of results from associates amounting to RM21mil. 'Our 1Q25 performance reflects continued execution of the Affin Axelerate 2028 Plan, with pre-tax profits rising 23.7% y-o-y. 'This was underpinned by higher net interest income, an improved funding mix, and stronger contributions from associates,' Affin Group president and group CEO Datuk Wan Razly Abdullah said in a statement. 'Amid a persistently tight monetary environment and ongoing global macroeconomic headwinds, we continued to exercise prudent cost and credit discipline. 'While we remain cautious on the near-term outlook due to external volatility, we remain confident in our ability to navigate the landscape, supported by healthy asset quality, a well-diversified balance sheet, and disciplined execution,' he added. The bank's gross loans and financing grew 7.1% y-o-y to RM72.9bil, compared to RM68bil as of Mar 31, 2024. Customer deposits rose by 5.2% to RM75.5bil, while current account and savings account (CASA) ratio improved significantly to 32.2% as of March 31, 2025, up from 24.9% a year ago. 'Our CASA ratio surpassed financial year 2025 (FY25) target of 31%, as a result of our continued efforts to lower the group's cost of funds. 'We expect the momentum in CASA growth to snowball into lower cost of funds and net interest margin expansion,' Wan Razly said. Net interest income gained 6.4% to RM206mil, compared to RM193.7mil in the preceding financial quarter. Non-interest income came in at RM140.1mil, a slight decrease of 1.7% or RM2.4mil from RM142.5mil in the previous corresponding period. The bank said it has a strong business pipeline, which includes financial advisory services and debt capital market deals. Wan Razly highlighted Affin's recent lead role in financing of Macrovalue's acquisition of Cold Storage Singapore, adding that many more landmark deals are expected on this front. 'Our recent collaboration with MUFG Bank (M) Bhd, the fifth-largest bank in Asia, underscores our commitment to providing tailored solutions, facilitating cross-border trade and investment, and expanding our expertise in key areas, including Islamic finance, green finance, and digital transformation,' he said. 'By leveraging our deep market knowledge and MUFG's global network, we are unlocking new opportunities for our customers and business partners, helping them scale in an increasingly interconnected global economy,' he added. Meanwhile, the bank said its first international credit rating of A3 from Moody's Ratings strengthens its credit profile and elevates the group's standing in the global capital markets. 'This positions us to secure more cost-efficient US dollar funding, diversify our investor base, and unlock strategic cross-border financing opportunities that support our long-term growth trajectory,' Wan Razly said.
New Straits Times
19-05-2025
- Business
- New Straits Times
Affin posts 12.6pct higher profit to RM124.1mil in Q1
KUALA LUMPUR: Affin Bank Bhd's net profit rose 12.6 per cent to RM124.1 million in the first quarter ended March 31, 2025 (1Q25) from RM110.2 million a year ago. In a statement today, the bank said the improved performance was primarily driven by a higher net income of RM39.4 million. Affin's revenue for the quarter increased to RM543.93 million from RM504.54 million in 1Q24. As a result, the bank registered a higher earnings per share of 5.17 sen against 4.70 sen previously. Meanwhile, Affin Bank's gross loans and financing marked a year-on-year growth of 7.1 per cent, achieving a value of RM72.9 billion compared to RM68.0 billion as of March 31, 2024. Customer deposits increased 5.2 per cent to RM75.5 billion, while current account and savings account (CASA) ratio continued to improve significantly to 32.2 per cent per cent as of March 31, 2025, compared to 24.9 per cent in the same period last year. The bank's interest income (NII) recorded RM206.0 million, an increase of RM12.3 million or 6.4 per cent compared to the preceding financial quarter of RM193.7 million. Furthermore, Affin Islamic Bank Bhd recorded a pre-tax profit of RM87.1 million for the financial period ended March 31, 2025, a decrease of RM11.5 million as compared to RM98.6 million in the previous corresponding period. The result was mainly attributable to a higher operating expense and a higher allowance for impairment losses of RM13.0 million and RM28.6 million respectively. Affin Group president and group chief executive officer Datuk Wan Razly Abdullah said the bank's first quarter performance reflects continued execution of its Affin Axelerate 2028 (AX28) Plan, with pre-tax profit rising 23.7 per cent year-on-year to RM178.2 million. He added that this was underpinned by higher net interest income, improved funding mix, and a stronger contribution from associates. "Amid a persistently tight monetary environment and ongoing global macroeconomic headwinds, we continued to exercise prudent cost and credit discipline. "While we remain cautious on the near-term outlook due to external volatility, we remain confident in our ability to navigate the landscape, supported by healthy asset quality, a well-diversified balance sheet and disciplined execution," he noted. Wan Razly also said Affin's recent attainment of its first international credit rating of A3 from Moody's Ratings strengthens the group's credit profile and elevates its standing in global capital markets. This positions the bank to secure more cost-efficient US dollar funding, diversify its investor base and unlock strategic cross-border financing opportunities that support its long-term growth trajectory. Meanwhile, Wan Razly noted that AffinAlwaysX, the bank's new mobile banking application, was launched internally to 5,700 employees and is performing well ahead of its public rollout on May 22. "Designed with enhanced UI/UX features, excellent security, and exciting upgrades, AffinAlwaysX is expected to drive exponential growth towards a target of 1.3 million users by year-end. "This initiative will also strengthen CASA stickiness, supported by a focused payroll acquisition strategy. "Our CASA ratio stood at 32 per cent as at 1Q25, surpassing the FY25 target of 31 per cent, is a result of our continued efforts to lower the group's cost of funds. "We expect the momentum in CASA growth to snowball into lower cost of funds and net interest margin expansion," he added. Wan Razly said Affin's strong business pipeline includes financial advisory services and debt capital market deals, with the recent lead role in the financing of Macrovalue's acquisition of Cold Storage Singapore, with many more landmark deals to come. "Our recent collaboration with MUFG Bank (Malaysia) Bhd, the fifth largest bank in Asia, underscores our commitment to providing tailored solutions, facilitating cross-border trade and investment, and expanding our expertise in key areas, including Islamic finance, green finance, and digital transformation. "By leveraging our deep market knowledge and MUFG's global network, we are unlocking new opportunities for our customers and business partners, helping them scale in an increasingly interconnected global economy," he said.
The Star
07-05-2025
- Business
- The Star
Affin secures strong rating from Moody's
Affin Bank Bhd president and group chief executive officer Datuk Wan Razly Abdullah. Kuala Lumpur: Affin Group has received its first international credit rating of A3 with a stable outlook from Moody's Ratings. The banking group said in a statement that the rating 'marks a significant milestone in the group's 50-year history, reflecting its solid financial foundation, prudent asset quality, resilient capital position, and strong institutional ties with the Sarawak state government, which holds a 31.25% equity stake in the bank'. Affin Bank Bhd president and group chief executive officer Datuk Wan Razly Abdullah said the rating was 'a recognition of our sound fundamentals and validates the strength of our Axelerate 2028 Plan'. 'As we continue to grow our footprint and expand financial inclusion across Malaysia, this rating affirms the market's confidence in Affin,' he added. Wan Razly said the strong rating enhances the bank's position on the global stage, particularly among international investors in areas such as trade finance, correspondent banking, and US dollar capital markets. — Bernama
The Star
07-05-2025
- Business
- The Star
Affin gets A3 rating with stable outlook from Moody's
Affin Bank Bhd president and group chief executive officer Datuk Wan Razly Abdullah KUALA LUMPUR: Affin Group has received its first international credit rating of A3 with a stable outlook from Moody's Ratings. The banking group said in a statement that the rating "marks a significant milestone in the group's 50-year history, reflecting its solid financial foundation, prudent asset quality, resilient capital position, and strong institutional ties with the Sarawak state government, which holds a 31.25 per cent equity stake in the bank.' Affin Bank Bhd president and group chief executive officer Datuk Wan Razly Abdullah said the rating was "a recognition of our sound fundamentals and validates the strength of our Axelerate 2028 (AX28) Plan.' "As we continue to grow our footprint and expand financial inclusion across Malaysia, this rating affirms the market's confidence in AFFIN,' he added. Wan Razly said the strong rating enhances the bank's position on the global stage, particularly among international investors in areas such as trade finance, correspondent banking, and US dollar capital markets. "It unlocks broader access to global opportunities and funding for the group,' he added. Affin noted that Moody's highlighted several key strengths of the group, which include healthy asset quality. "The group also showed strong capitalisation, with a tangible common equity to risk weighted assets ratio of 14.5 per cent as at end 2024; adequate funding and liquidity, underpinned by growing current account and savings account deposits as well as improving profitability, driven by operational efficiencies and digital transformation initiatives,' it said, citing Moody's assessment. With its credit rating, Affin said the bank now joins the ranks of Malaysia's top-rated financial institutions, further enhancing its credibility and global market access. - Bernama
Borneo Post
27-04-2025
- Business
- Borneo Post
Icom branch, new card testament to Affin's focus on Sarawak
Uggah (middle), Wan Razly (left) and other officials during the launch of the Icom Square branch. KUCHING (April 27): The launch of its Icom Square outlet, coupled with the introduction of its Sarawak-specific banking product, underscores Affin Bank's commitment to empowering the state's financial ecosystem. According to Affin Bank chief executive officer Datuk Wan Razly Abdullah Wan Ali, the launch of its eighth branch in Icom Square signifies Affin's commitment to strengthening its presence in East Malaysia and advancing its blue footprint across Sarawak. 'The selection of the Affin Icom Square branch is a strategic move to tap into Sarawak's strong economic momentum, growing population, and central location in Kuching. 'With excellent connectivity via Jalan Pending and Jalan Tun Abang Haji Openg, the branch offers direct access to high-potential business and expansion opportunities. 'Building on this strategic advantage, the Affin Icon Square branch is now fully equipped to offer a dynamic range of financial solutions tailored to the evolving needs of businesses, SMEs, and the broader community. 'We believe this positioning will enable us to better serve the community and contribute meaningfully to Sarawak's continued growth,' he said during the officiation ceremony of the branch today. The branch was officiated by Sarawak Deputy Premier, Datuk Amar Douglas Uggah Embas, representing the Sarawak Premier Tan Sri Abang Johari Tun Openg. Wan Razly also commented on Affin's latest product, the Affin Kenyalang Card, which will be officially launched by the Premier tonight. 'Inspired by the majestic hornbill, the Kenyalang Card embodies strength, pride, and the rich cultural heritage of Sarawak. Making it more than just a card, it is a powerful symbol of identity and aspiration,' he added. 'The Affin Kenyalang Card is available to residents and non-residents with a valid Sarawak address. All Sarawakian IC holders with a 'K' or individuals aged 18 years and above are eligible.' Earlier this year, the Affin Bank CEO unveiled the bank's plans to expand the number of its outlets in Sarawak to 14 by July, in addition to expanding its products and services. He noted that Affin Bank s loans in Sarawak grew by 10 per cent in 2024 to RM3.2 billion and it aims to achieve a 12 per cent growth for 2025. Affin Bank is set on expanding its offerings in the state after the Sarawak Government became its largest shareholder with a 31.25 per cent stake following the completion of a deal with Lembaga Tabung Angkatan Tentera to acquire 165.05 million shares or 6.87 per cent in the bank. The Sarawak Premier previously said Sarawak s decision to invest in Affin was driven by the need to take a strategic step to create a financial platform and synergy with a sound and competent bank, which was essential for the state to elevate its economic potential. Affin Bank iCom Square lead
