AFFIN Bank : Group Announces Annual General Meeting Outcomes, Financial Performances And Dividend For FY2023

media release
FOR IMMEDIATE RELEASE	25 APRIL 2024

AFFIN GROUP ANNOUNCES ANNUAL GENERAL MEETING OUTCOMES,

FINANCIAL PERFORMANCES AND DIVIDEND FOR FY2023

KUALA LUMPUR - AFFIN Group ("the Group") held its 48th Annual General Meeting ("AGM") today at the Royale Chulan Kuala Lumpur and shareholders passed all 11 resolutions. This marked the first hybrid AGM for the Group following a series of virtual AGMs since the pandemic.

AFFIN Group registered a Profit Before Tax (PBT) of RM518.3 million for the financial year ended 2023. Amidst the challenging economic environment, the Group's CASA (Current Account/Savings Account) rose to RM18.9 billion in FY2023 compared to three years ago in 2020 at RM11.2 billion, with the CASA ratio stood at 26.7% surpassing the target of 25% marking the highest CASA Ratio ever for the Group.

The Group's total assets grew to RM105 billion in FY2023 from RM70 billion in FY2020 with a year- on-year growth of 12.3% driven by significant loan growth. AFFIN Group also declared a final dividend of 5.76 sen, which represents a total of a total dividend payout of approximately RM135.3 million or 33.6% of the Group's net profit for FY2023.

President & Group Chief Executive Officer of Affin Bank Berhad, Datuk Wan Razly Abdullah

presented an update during the AGM where he said, "We have navigated a challenging year with a clear focus on our long-term objectives and remain steadfast to focus on sustainable growth strategies that prioritise long-term value creation for our shareholders and customers alike.

To future-proof ourselves, we need to strengthen our core capabilities, innovate in key strategic areas, and invest in growth opportunities, while being nimble enough to respond to any unexpected changes in the external environment. We are realigning our vision from the AFFIN 2025 Plan (A25) to the AFFIN Axelerate 2028 Plan (AX28), focusing on five critical pillars to navigate divergences in economic cycles and propel the Group towards a transformative leap forward:

1. Expanding our commitment to customer excellence with a focus on Private Banking Business.
2. Spearheading a digital revolution.
3. Expanding our presence in Sarawak.
4. Maximising capital efficient.
5. Amplifying our ESG ambitions to weave sustainability into the fabric of our operations.

We have strategically shaped our business on three pillars: Unrivalled Customer Service, Digital Leadership and Responsible Banking with Impact. This has deepened customer engagement, resulting in more resilient relationships, as evidenced by our Net Promoter Score of +69, ranking us third in the industry."

AFFIN Group has also achieved remarkable milestones, including prestigious awards such as The Edge Billion Dollar Club 2023 for the Highest Growth in Profit After Tax Over Three Years, the Best Bank for SMEs in Malaysia by Asiamoney, the Mortgage and Home Loan Product of The Year 2023 (Malaysia) from the Asian Banking & Finance, and recently, the Industry Excellence in Innovative Payment Solution for AFFINMAX award from Malaysia Top Achievers 2023.

The year also saw Affin Hwang Investment Bank Berhad received the Best Sustainability Sukuk from the Asset Triple A Sustainable Finance Awards, the Sustainability Sukuk Wakalah for Best Deal by Structure at the IFN Deals of the Year Awards 2023 and the Best Call Awards 2023 for Mr DIY Group

(M) Bhd and Jaya Tiasa Holdings Bhd by The Edge Media Group.

He added, "These prestigious awards serve as a testament to AFFIN's ethos of 'Always About You', which drives us to prioritise our clients, employees, shareholders, and society. We remain committed to being at the forefront of the financial industry for the benefit of all stakeholders."

The AGM was chaired by the Chairman of Affin Bank Berhad, YBhg. Dato' Agil Natt, with the Board of Directors and President & Group Chief Executive Officer, YBhg. Datuk Wan Razly Abdullah in attendance.

Chairman thanked all the investors, customers, and other stakeholders for their continued support in enabling the Group to deliver excellent performance consistently. He also thanked the employees for their hard work, professionalism, and commitment. AFFIN Group will remain focused on providing profitable and sustainable growth and will grow to become a Modern and Progressive Bank.

-END-

About AFFIN Group

Affin Bank Berhad operates as the financial holding entity of Affin Islamic Bank Berhad, Affin Hwang Investment Bank Berhad, 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 www.affingroup.com.

For more information, please contact:
Ulfat Khasyi'ah Baharudin	Sharifah Syahirah Syed Azlan
Head, Corporate Communications & Public Relations	Manager, Corporate Communications & Public Relations
Phone: [phone]	Contact Number: [phone]
E-mail: [e-mail]	E-mail: [e-mail]