Kuala Lumpur: Affin Group has received its first international credit rating of A3 with a stable outlook from Moody’s Ratings. The banking group announced that this rating represents a significant milestone in its 50-year history, emphasizing its financial foundation, asset quality, capital position, and institutional ties with the Sarawak state government, which holds a 31.25 percent equity stake in the bank.

According to BERNAMA News Agency, Affin Bank Bhd president and group chief executive officer Datuk Wan Razly Abdullah expressed that the rating recognizes the bank’s strong fundamentals and validates the strength of their Axelerate 2028 (AX28) Plan. He highlighted that as the bank continues to expand its footprint and financial inclusion across Malaysia, this rating reinforces market confidence in AFFIN.

Wan Razly further stated that the strong rating enhances the bank’s position globally, especially among international investors in trade finance, correspondent banking, and US dollar capital markets. This development is expected to provide broader access to global opportunities and funding for the group.

Affin noted that Moody’s emphasized several strengths, including healthy asset quality and strong capitalization, with a tangible common equity to risk-weighted assets ratio of 14.5 percent at the end of 2024. The group also showed adequate funding and liquidity, supported by growing current account and savings account deposits and improving profitability driven by operational efficiencies and digital transformation initiatives. With this credit rating, Affin joins Malaysia’s top-rated financial institutions, boosting its credibility and global market access.