10/03/2025

BANKING & INSURANCE 12 MONDAY | MAR 10, 2025

HLIB empowers 100 households in Langkawi

Affin Bank net profit improves to RM509.7m, revenue to RM2.17b in FY24 KUALA LUMPUR: Affin Bank Bhd’s net profit increased 26.7% to RM509.70 million for the financial year ended Dec 31, 2024 (FY24) from RM402.19 million in the preceding year due to a higher income as well as higher write back of credit impairment losses by RM229.6 million. Revenue improved to RM2.17 billion versus RM1.99 billion pre viously, the bank said in a filing with Bursa Malaysia recently. Affin Bank said gross loans and financing saw a year-on-year growth of 8.1% to RM72 billion from RM66.7 billion as of Dec 31, 2023. Customer deposits increased by 4.1% to RM73.7 billion, while the current account and savings account ratio continued to im prove to 30.4% as of Dec 31, 2024, compared to 26.7% a year earlier. Meanwhile, for the fourth quarter ended Dec 31, 2024, the group achieved a net profit of RM135.1 million, up from RM39.53 million in the preceding year’s corresponding quarter, while revenue stood at RM557.67 million versus RM486.19 million before. Going forward, it said the group is focused on fulfilling its Affin Axelerate 2028 Transformation Plan which will see the group and the bank playing a signi-ficant role in contributing to profit-ability through growth in loans/financing and cur rent account. No dividend has been proposed for the quarter under review. In a media statement, Affin Bank president and group CEO Datuk Wan Razly Abdullah said the group’s efforts to improve net interest margin are showing early results, with current and saving accounts breaching its 30% target.

o Programme, conducted through PayNet Cambah, benefits the underserved PETALING JAYA: Payments Network Malaysia Sdn Bhd (PayNet) announced that Hong Leong Islamic Bank Bhd (HLISB) has become the first bank under its PayNet Cambah programme to empower 100 Langkawi households in their journey towards financial self-sustainability. This initiative, launched in support of Suri Inspirasi, builds on the success of PayNet Cambah’s collaboration with the social enter prise, focusing on empowering underserved families and communities by creating sus tainable sources of income. PayNet Cambah, launched in 2023, is an environmental, social and governance-focused impact programme designed to create self sustaining communities among underserved segments in Malaysia, aligning with the UN Sustainable Development Goals. Through its partnership with Suri, the programme’s pilot project in Langkawi has equipped mostly unbanked households with life skills, digital payment literacy and financial knowledge. Suri is a social enterprise dedicated to zero waste fashion and community empowerment. It works with B40 mothers and families, providing them with the skills and resources to upcycle discarded fabrics into unique fashion items, bags

From left: GoBarakah CEO Firdaus Mohamed, Senior District Assistant Officer (Land Management) Zulkifli Abdullah, PayNet senior director strategy and ESG Azleena Idris, Dafinah, Sally and Suri Langkawi adviser Faisol Abdullah.

and crafts. This innovative approach not only diverts textile waste from landfills but also creates sustainable jobs and empowers underserved communities to become entrepreneurs. Follow ing its success in the Klang Valley, Suri has expanded its operations to Langkawi, bringing its positive impact to a wider community. Within two years, Suri has established the Suri Kilim Hub as its production headquarters and secured long-term collaborations with eight high-end resorts and local authorities, contri buting to Langkawi’s transformation into a sustainability-focused, community-based tour

ism destination. PayNet Group CEO Farhan Ahmad said the company is proud of the success of the Langkawi community. “They have become a thriving community-based, ESG-focused small industry. PayNet Cambah was designed for lasting impact, using an agile approach.” HLISB CEO Dafinah Ahmed Hilmi said the bank is constantly seeking innovative ways to integrate social impact into its core business operations. Suri founder Sally Ahmad said PayNet Cambah has been instrumental in empowering the Langkawi community.

Aeon Bank pioneers digital interactive loyalty programme PETALING JAYA: Aeon Bank is pioneering an enhanced customer experience for digital banking with the introduction of Neko Missions, an innovative gamification-based stamp pro gramme. digital banking app, which rewards customers who shop at Aeon stores nationwide. This move made it the only bank in the country to establish a retail loyalty programme integrated within its mobile banking app. explore partnerships with various merchants partners within our ecosystem, while leveraging on each others’ unique selling point and cus tomers’ brand affinity.” Neko Missions is designed to enhance customer engagement and elevate their overall banking experience in their daily transactions. The new feature was developed to promote greater synergy with Aeon Bank’s wider ecosystem, namely merchant partners such as ZUS Coffee and Tealive. Aeon Bank’s effort to promote cashless transactions is also supported by Payments Network Malaysia Sdn Bhd (PayNet) via the Neko Missions DuitNow QR programme. Prior to this, Aeon Bank had already embedded the widely used Aeon Points Programme into its “With Neko Missions, we are integrating incentives into everyday transactions, en couraging more Malaysians to embrace cashless payments while enjoying meaningful rewards. This will strengthen customer engagement, as well as accelerate the shift towards a more connected, inclusive and digitally empowered economy.” CTOS and Maybank Islamic launch Banking-as-a-Service initiative for SMEs, retail customers “This is a significant milestone in strengthening our funding base. At the same time, we are advancing our digital transformation journey with the introduction of our new digital core and mobile app, launching in the first quarter of 2025, which will catapult the group’s growth in 2025,” he added. – Bernama Aeon Bank (M) Bhd CEO Raja Teh Maimunah Raja Abdul Aziz said digital banking has the potential to be more than just a payment and transaction tool. “We aim to elevate the mobile banking experience for our customers by optimising it as a medium of engagement between customers and their favourite F&B or retail brands. Neko Missions infuses fun in daily payment and shopping activities, making cashless financial habits more dynamic. “We will further develop our loyalty programme and through Neko Missions, we will PayNet senior director of commercial Azrul Fakhzan Mainor said the strategic collaboration with Aeon Bank enhances Malaysia’s digital pay ments landscape by delivering a seamless, secure, and rewarding digital payment ex perience.

PETALING JAYA: CTOS Data Systems Sdn Bhd, a credit reporting agency, has joined forces with Maybank Islamic Bhd to launch a Banking-as-a-Service ini tiative. It aims to empower small and medium enterprises and retail cus tomers by providing personalised, syariah-compliant financial solutions tailored to Malaysians’ needs. The partnership integrates CTOS’s credit scoring and risk management tools with Maybank Islamic’s syariah compliant banking services. Together, they create an ecosystem that em powers SMEs and retail customers to

Banking & Finance CTOS Digital Bhd Group CEO Erick Hamburger said, “Beyond setting an industry-first for a credit bureau to partner with Maybank Islamic Bhd, this collaboration marks a first step to incentivising SMEs in their journey of adopting digital financing, business digitisation services, and halal certi ficate facilitation.” make more informed financial deci sions while adhering to syariah prin ciples. Through this collaboration, CTOS and Maybank Islamic have rolled out complimentary offerings and exclusive offers for SMEs.

What’s more, he said, it provides retail customers with tailored solutions that suit the Malaysian lifestyle. Maybank Islamic strategic pro gramme director Dr Muhd Ramadhan Fitri Ellias said the partnership with CTOS is a key milestone in its mission to bring innovative, syariah-compliant financial solutions to customers. “By integrating CTOS’s credit risk management tools with our Islamic banking solutions, we are empowering both individual customers and SMEs to make informed financial decisions, ultimately helping them grow their businesses sustainably.”

Hamburger (left) and Muhd Ramadhan at the launch of the Banking-as-a Service initiative.

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