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Affin Bank expects loan growth to ease this year at 10-11%

KUALA LUMPUR: Affin Bank Bhd expects its loan growth to ease at 10 to 11 per cent for the fiscal year 2023 versus the 15 per cent growth recorded last year, citing a cautious outlook for the whole banking sector.

Kuala-lumpur , Malaysia , United-states , Razly-abdullah , Affin-bank-bhd , Affin-bank , Datuk-wan-razly-abdullah-ali , Wan-razly-abdullah , Loan , Capex , Digitalisation , Islamic-banking

Affin Bank sees positive development in its transformation plan

KUALA LUMPUR: Affin Bank Bhd sees a positive development towards realising the aspirations of its A25 strategic plan following the sale of a 4.95 per cent stake in the bank by the Armed Forces Fund Board (LTAT) to the State Financial Secretary Sarawak.

Malaysia , Kuala-lumpur , Malaysian , Razly-abdullah , Affin-bank , Armed-forces-fund-board , Bank-negara-malaysia , Affin-bank-bhd , State-financial-secretary , Datuk-wan-razly-abdullah , Fifth-malaysian-banking , Finance-summit

Rosmah's trial vacated for AGC's reply to dropping of charges

KUALA LUMPUR: Datin Seri Ros­mah Mansor’s money laundering and tax evasion trial at the High Court here has been vacated while awaiting her representation to the Attorney General’s Chambers (AGC) to drop the charges.

Kuala-lumpur , Malaysia , Justicek-muniandy , Justice-muniandy , Kompleks-bangunan-kerajaan , Rosmah-mansor , Ahmad-akram-gharib , Jalan-ampang , Jalan-tuanku-abdul-halim , Datuk-geethan-ram-vincent , Najib-razak , High-court

Generali Malaysia to expands local presence, focus on underserved markets

KUALA LUMPUR (May 10): Generali Group, one of the largest global insurance providers based in Italy, aims to narrow the insurance gap for the underserved market in the country through its integrated unified brand, Generali Malaysia. Generali Malaysia was recently integrated following the acquisition of a controlling majority stake in Affin Bank Bhd’s general insurance arm AXA Affin General Insurance Bhd (AAGI), and 100% purchase of MPI Generali Insurans Bhd from its joint-venture partner Multi-Purpose Capital Holdings Bhd (MPCHB).

Italy , Kuala-lumpur , Malaysia , Malaysian , Generali-insurans-bhd , Fabrice-benard , Affin-bank-bhd , Ministry-of-finance , Generali-group , Affin-bank , Purpose-capital-holdings-bhd , General-insurance-bhd

Boustead Holdings reports 41pc deviation in FY2022 net profit

KUALA LUMPUR, April 28 — Boustead Holdings Bhd (BHB) today announced a deviation of more than 10 per cent between the net profit for the financial year ended Dec 31, 2022...

Kuala-lumpur , Malaysia , Affin-bank-bhd , Bank-negara-malaysia , Boustead-holdings-bhd , Bursa-malaysia ,

LTAT buys 7% stake in AHAM Capital from Nikko AM at undisclosed price

The Armed Forces Fund Board (LTAT) has bought a 7% stake in AHAM Asset Management Bhd from Nikko Asset Management International Ltd, which also transferred its remaining 20% equity interest to parent company Nikko Asset Management Co Ltd.

Jersey , Kuala-lumpur , Malaysia , Sdn-bhd , Armed-forces-fund-board , Affin-bank , Affin-bank-bhd , Nikko-asset-management-international-ltd , Boustead-holdings-bhd , Starlight-management-company-jersey-ltd , Nikko-asset-management-co-ltd , Management-bhd

Cover Story: AT1 capital plays minimal role, unlikely to hit stability of Malaysian banks and funds

PRIOR to the Swiss government’s decision on the UBS Group AG-Credit Suisse Group AG merger, which led to the write-down of the latter’s CHF16 billion (RM77 billion) Additional Tier 1 (AT1) capital, or contingent convertible (CoCo) bonds, not many in Malaysia would have heard of these hybrid securities that have the characteristics of both debt and equity.

Malaysia , Switzerland , Singapore , Swiss , Malaysian , Angus-salim-amran , Suisse-coco , Awang-adek-hussin , Bhd-maybank , Shamsiah-mohd-yunus , Holdings-bhd , Bank-negara-malaysia

LTAT sells 112.56 million shares in Affin Bank to Sarawak state entity

KUALA LUMPUR: Affin Bank Bhd has confirmed that the Armed Forces Fund Board (LTAT) has divested 112.56 million shares in the bank to the State Financial Secretary Sarawak for RM221.74 million via a direct business transaction.

Kuala-lumpur , Malaysia , Affin-bank-to-sarawak , Armed-forces-fund-board , Affin-bank-bhd , State-financial-secretary-sarawak , Bursa-malaysia , Affin-bank , Edge-malaysia , Banking , Ltat