KUALA LUMPUR: Affin Bank Bhd’s net profit increased 20.4 per cent to RM503.09 million in the financial year ended December 31, 2018 from RM417.86 million.
In a statement, Affin said the improved performance was mainly due to higher net fee and commission income, Islamic banking income, net gain on financial instruments and other income.
Its revenue in the same period rose 23.1 per cent to RM1.92 billion from RM1.56 billion.
Affin said the bank would continue its growth path with Affinity Programme in 2019.
“In addition, the re-organisation of the group which was completed in February 2018, is expected to strengthen the group’s synergy.
“Leveraging on the group's infrastructure, the bank will continue to strengthen its existing offerings, accelerate the development of its digital banking solution and further improve its innovativeness to meet customers’ requirement,” it said.
Affin said its strategic focus for the 2019 will remain on both retail and business banking segments, especially in the small and medium enterprises (SME) segment as well as transactional banking.
“The bank will also be focusing on brand visibility, compliance requirements, improving asset quality and liquidity management.
“Given the expansion of the SME segment is pivotal to Malaysia’s economic growth, Affin is placing greater emphasis in this area,” it said.
Overall for 2019, the group said it was committed to upgrading its capabilities and operating efficiencies specifically on digital front in enriching customer experience.
“The group will continuously strive to maximise synergistic value within the group and put in place more strategies to drive to the next phase of growth and meet the ever-changing business environment and the requirements.
“Going forward, the group remains positive on the industry outlook and will continue to build resilience across its business and drive efficiency savings in its business operations, with collaborative efforts to better serve its enlarged clientele by focusing on the client experience,” it said.