Affin Financial institution’s Q3 internet revenue surges to RM133.2mil

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KUALA LUMPUR: Affin Financial institution Bhd’s internet revenue for the third quarter ended Sept 30, 2021 surged to RM133.20 million from RM48.71 million in the identical interval final 12 months.

Income, nonetheless, eased to RM552.49 million from RM556.84 million beforehand, the financial institution mentioned in a submitting with Bursa Malaysia right this moment.

For the 9 months ended Sept 30, 2021, the financial institution recorded a revenue earlier than tax (PBT) after zakat of RM469.0 million, a 29 per cent improve, in contrast with RM363.2 million recorded in the identical interval final 12 months.

The development in PBT was primarily derived from larger internet curiosity revenue of 24.3 per cent, larger internet charge and fee revenue of 30.2 per cent, and better revenue from the Islamic banking enterprise of 11.3 per cent.

President and group chief govt officer Datuk Wan Razly Abdullah Wan Ali mentioned according to the fast improvement within the digital banking panorama, the financial institution will proceed to spice up its digital banking options and proceed with its Metamorphosis Plan.

The plan, AIM22 Transformation Programme, emphasises key areas akin to return on fairness, bettering threat administration and digital transformation, amongst others.

“The financial institution will even stay targeted in its pursuits for operational excellence, while sustaining robust governance, compliance and threat tradition,” he mentioned in an announcement right this moment.

The financial institution mentioned it can proceed to supply COVID-19 monetary aid help by means of its Monetary Help and Instalment Reduction (FAIR) and New Reimbursement Help (NRA) programme to help clients who’ve been impacted by the financial slowdown.

“Affin Financial institution has granted monetary help price RM8.2 billion to assist its retail clients,” the financial institution mentioned.

On prospects, it’s anticipating a stronger mortgage development for the fourth quarter of 2021 along with an enchancment in its charge revenue as clients begin to improve their enterprise and banking actions. – Bernama



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