KUALA LUMPUR: Affin Bank Bhd's net profit for the third quarter ended Sept 30, 2021 surged to RM133.20 million from RM48.71 million in the same period last year.

       Revenue, however, eased to RM552.49 million from RM556.84 million previously, the bank said in a filing with Bursa Malaysia today.

       For the nine months ended Sept 30, 2021, the bank recorded a profit before tax (PBT) after zakat of RM469.0 million, a 29 per cent increase, compared with RM363.2 million recorded in the same period last year.

       The improvement in PBT was mainly derived from higher net interest income of 24.3 per cent, higher net fee and commission income of 30.2 per cent, and higher income from the Islamic banking business of 11.3 per cent.

       President and group chief executive officer Datuk Wan Razly Abdullah Wan Ali said in line with the rapid development in the digital banking landscape, the bank will continue to boost its digital banking solutions and continue with its Metamorphosis Plan.

       The plan, AIM22 Transformation Programme, emphasises key areas such as return on equity, improving risk management and digital transformation, among others.

       "The bank will also remain focused in its pursuits for operational excellence, whilst maintaining strong governance, compliance and risk culture,” he said in a statement today.

       The bank said it will continue to provide COVID-19 financial relief assistance through its Financial Assistance and Instalment Relief (FAIR) and New Repayment Assistance (NRA) programme to support customers who have been impacted by the economic slowdown.

       "Affin Bank has granted financial assistance worth RM8.2 billion to help its retail customers,” the bank said.

       On prospects, it is anticipating a stronger loan growth for the fourth quarter of 2021 together with an improvement in its fee income as customers start to increase their business and banking activities. - Bernama