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Affin FY2013 Pre-tax Profit Rises To RM854.2 Million
The improved performance was mainly due to the increase in interest income and Islamic banking income totalling RM23.9 million, higher loan recoveries of RM19.9 million and lower allowance for loan impairment of RM27.3 million, it said in a filing to Bursa Malaysia.
Revenue increased to RM3.03 billion from RM2.97 billion previously.
For the fourth quarter ended Dec 31, 2013, its pre-tax profit rose to RM219.4 from RM212.2 million in the same quarter last year.
The company said revenue for the fourth quarter ended Dec 31, 2013 increased to RM775.04 million from RM756.2 million previously.
The Bank is optimistic of its investment banking segment due to the potential opportunities in the capital markets from the ongoing implementation of projects under the Economic Transformation Programme (ETP) and various domestic economic corridors.
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