Affin Bank's 2Q net profit rises to RM118.58mil

Quick Summary:

KUALA LUMPUR: Affin Bank Bhd anticipates the normalisation of net interest margins (NIM) by the first half of 2025, underpinned by the expectation of a 50-75 basis points cut by the US Federal Reserve and improving economic conditions in Malaysia.

Non-interest income for the period under review was RM284.2mil, an increase of 7.8% from RM263.6mil registered in the previous corresponding period.

In 1HFY24, the group’s total loans, advances and financing grew by 10.5% y-o-y to RM69bil, contributed mainly by 13.6% growth in the community banking segment.

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Category: EconomyBusiness

Markets: MalaysiaMaliSingapore

Topics: /Business/Business News

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-23 @ 13:10:00 (6 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 421 words

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News ID: 22224353

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