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NewsUpdate Affin 4Q profit up marginally at RM166.9m
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Update Affin 4Q profit up marginally at RM166.9m
by Cals Wed 26 Feb 2014, 17:32
| Update Affin 4Q profit up marginally at RM166.9m |
| Business & Markets 2014 |
| Written by Ho Wah Foon of theedgemalaysia.com |
| Wednesday, 26 February 2014 13:15 |
KUALA LUMPUR (Feb 26): Affin Holdings Bhd said its net profit for fourth quarter to end-December 2013 rose slightly to RM166.9 million, from RM160.4 million in past year’s corresponding quarter.
Revenue was near flat at RM755.0 million, versus RM756.2 million a year ago.
Total profits for the full year of 2013 rose to RM650.0 million, from RM628.9 million in 2012. But total revenue fell to RM3.03 billion, from RM2.97 billion.
In its filing to Bursa Malaysia today, Affin said the improvement in fourth quarter profit was mainly due to increase in interest income and Islamic banking, higher loan recoveries and lower allowance for loan impairment.
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