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RETAIL BANKING | Tony Chua, Malaysia

Affin's third quarter PBT up 45% to $67.85mn

The lender is positive that the lender will have stellar performance next quarter.

Affin Holdings Bhd's profit before tax (PBT) rose 44.9% to RM216.2 million ($67.85 million) in the third quarter ended Sept 30 2011 (Q3), from RM149.2 million ($46.82 million) a year ago.

Revenue grew 13.8% to RM680.1 million compared with RM597.8 million a year ago.

Earnings per share also rose 17.5% year-on-year to 9.05 sen, from 7.70 sen. As at Sept 30, net assets per share, core capital ratio and risk-weighted capital ratio were RM3.74, 11.26% and 13.28% respectively.

“We have delivered a strong Q3 results exceeding our expectations and we are on track to register another good year with positive growth. This is testament to the group’s strength and diversity of our business model in the financial services sector," said Affin Holdings chairman Gen (Rtd) Tan Sri Mohd Zahidi Zainuddin in a statement Friday.

“With the stage set for the group to achieve greater heights of success, we are optimistic of the group’s ability to achieve yet another impressive performance in the next quarter,” he added.

For the nine-month period, the group's PBT was up 11.2% to RM534.5 million from RM480.8 million a year ago. Revenue was RM2.0 billion, up 18.0% from RM1.7 billion.

View the full story in The Sun Daily.

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