Affin Group's 1QFY25 Profit Rises To RM124 Million Stemming from Better Net Income
Affin Group (AFFIN) has announced a Profit Before Tax (PBT) after zakat of RM178.2 million for the first quarter ended March 31, 2025. This represents a RM34.1 million or 23.7% increase compared to the RM144.0 million recorded in the same period last year. The increase in PBT was primarily driven by a higher net income of RM39.4 million.
The Group's gross loans and financing grew by 7.1% year-on-year, reaching RM72.9 billion as of March 31, 2025, compared to RM68.0 billion as of March 31, 2024. Customer deposits increased by 5.2% to RM75.5 billion. The Current Account and Savings Account (CASA) ratio showed significant improvement, rising to 32.2% as of March 31, 2025, from 24.9% as of March 31, 2024.
Datuk Wan Razly Abdullah, President & Group Chief Executive Officer of AFFIN Group, stated that the first-quarter performance reflects the continued execution of the AFFIN Axelerate 2028 (AX28) Plan, with PBT increasing by 23.7% year-on-year to RM178.2 million. He attributed this growth to higher net interest income, an improved funding mix, and a stronger contribution from associates.
Despite the tight monetary environment and global macroeconomic headwinds, the Group maintained prudent cost and credit discipline. While remaining cautious about the near-term outlook due to external volatility, AFFIN Group expresses confidence in its ability to navigate the landscape, supported by healthy asset quality, a well-diversified balance sheet, and disciplined execution.
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