Kuala Lumpur: Shareholders of Affin Group approved all ten resolutions tabled at the bank’s 49th Annual General Meeting (AGM) today. The group said in a statement that the AGM was chaired by Affin Bank Bhd chairman Datuk Agil Natt and attended by the board of directors, the president and group chief executive officer (CEO), as well as members of senior management.
According to BERNAMA News Agency, the president and group CEO, Datuk Wan Razly Abdullah, stated that in line with Affin’s growth journey and to reward shareholders, the bank is proposing a bonus issue on the basis of one new share for every 18 existing shares held. He explained that this bonus issue serves as a mechanism to distribute the 2024 profit to all shareholders, enabling them to participate in the group’s long-term value creation.
The move comes amid strong demand for Affin shares, which remain tightly held, and reflects confidence in the group’s strategic direction and digital-first agenda. The bank has observed the entry of foreign shareholders, with foreign funds acquiring up to four percent of the group’s total shares.
In February, the group reported a profit before tax (PBT) of RM701.0 million for the financial year ended December 31, 2024 (FY2024), marking a 35.3 percent increase from RM518.3 million in FY2023. Additionally, there was an 8.1 percent year-on-year growth in loans and financing to RM72.0 billion, with total assets reaching RM111.8 billion as of December 31, 2024.
Wan Razly highlighted that the group’s achievements were delivered despite ongoing macroeconomic and industry headwinds, including interest rate volatility, regulatory shifts, and heightened competition. The group remained focused on executing its AFFIN Axelerate 2028 (AX28) Plan, which emphasizes unrivalled customer service, digital leadership, and responsible banking with impact.
Regarding regional growth, Affin has seen a positive market response, with increased account openings. The bank plans to capitalize on this momentum to expand its market presence across various sectors, including retail banking, stockbroking, insurance, and commercial and corporate lending.