KUALA LUMPUR: Malaysia's second smallest lender Affin Holdings Bhd is planning to reduce its workforce by up to six per cent or 300 staff to boost efficiency and productivity, said its group chief executive officer Kamarul Ariffin Mohd Jamil.
"At the overall level, the exercise will affect about 300 staff, and hopefully with the inevitable cut, it will create productivity and efficiency," Kamarul Ariffin told theedgemarkets.com on the sidelines of Affin Hwang Capital Conference Series 2017 here today.
The scheme will be offered towards year-end, he added.
Affin has around 4,000 staff at the bank level, and cumulatively, around 5,000 staff at the holding level.
As for the loans growth, Kamarul Ariffin reiterated that Affin was expecting around five to six per cent this year, supported by various initiatives to improve income.