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Affin Bank

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Affin Bank Berhad
Formerly
  • Perwira Habib Bank (M) Berhad (1975–1994)
  • Perwira Affin Bank Berhad (1994–2000)
Company typePublic limited company
MYX: 5185
ISINMYL5185OO003
IndustryBanking
Founded23 October 1975; 49 years ago (1975-10-23)
HeadquartersLevel 19, Menara AFFIN Lingkaran TRX, Tun Razak Exchange, 55188 Kuala Lumpur, Malaysia
Number of locations
126 branches
Key people
  • Dato' Agil Natt (Chairman)[1]
  • Datuk Wan Razly Abdullah Wan Ali (President & Group CEO)[2][3]
ProductsFinancial services
Number of employees
7,000 (2020)
Parent
Subsidiaries
Websitewww.affingroup.com
Footnotes / references
[4]

Affin Bank Berhad[5] (MYX: 5185) is a Malaysian banking and financial services company headquartered at the Tun Razak Exchange, Kuala Lumpur. Established in 1975, the bank was owned by Affin Group Berhad, with Affin being an abbreviation of its former name, Armed Forces Finance and previously known as Perwira Habib Bank (M) Berhad and Perwira Affin Bank Berhad before adopted its present name on 30 August 2000.

Affin Bank provides financial products and services to both retail and corporate customers. The target business segments are categorized under key business units such as Community Banking, Enterprise Banking, Corporate Banking and Treasury. As of 16 July 2024, the bank has a network of 126 branches in Malaysia.[6][7]

Affin Islamic Bank Berhad, its wholly-owned subsidiary commenced operations on 1 April 2006 as a full-fledged Islamic bank, and offers Islamic Banking products and services for individuals and corporate which are in compliance with Shariah principles and laws.[citation needed]

History

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Affin Bank was established on 23 October 1975 as Perwira Habib Bank. The bank is a joint venture between Armed Forces Fund Board (LTAT), Syarikat Permodalan Kebangsaan Berhad (SPK) and Pakistani banking company, Habib Bank and began operations on 1 January 1976.[8] The bank's launching ceremony was officiated by the then-third Prime Minister, Hussein Onn on 23 October at the Hilton Hotel, Kuala Lumpur.[9]

By September 1978, Perwira Habib Bank opens eight branches in several states including Malacca, Pahang and Terengganu.[10] As of August 1979, the bank has 14 branches in Malaysia.[8]

The bank's loans and advances including trade bills increased to RM731 million in 1983 despite the global economic recession.[11] In 1987, the bank boosts its issued and paid-up capital by RM300 million to RM405 million.[12]

The bank announced in February 1991 that it would underwent a capital restructuring scheme which involves the injection of new capital by existing shareholders and a capital reduction exercise to write off large accumulated losses.[13][14]

On 21 April 1994, following its acquisition by Affin Holdings Berhad, Perwira Habib Bank changed its name to Perwira Affin Bank after Habib Bank divested its equity interest in the bank.[15]

On 30 August 2000, the bank dropped the word 'Perwira' from its corporate name, changing it to simply as Affin Bank following its merger with BSN Commercial (M) Berhad.[16]

Ownership structure

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The shareholders of Affin Bank consists of Armed Forces Fund Board (LTAT) which holds 28.79% stake. Its wholly-owned subsidiary, Boustead Holdings holds 20.02%, this was followed by Bank of East Asia which holds the remaining 23.93% share. Since September 2024, the Sarawak Government through its wholly-owned SG Assetfin Holdings become a major shareholder in Affin Bank, holding a 31.25% stake.[17] The Employees Provident Fund (EPF) previously a major shareholder of the bank, held a 121.91 million shares, but divested its shares in April 2024.[18]

Corporate identity

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Affin Bank's fifth logo, used from 2005 to 2020. This is the bank's only logo to used its wordmark instead of a hibiscus symbol.

Affin Bank introduces its iconographic logo upon its establishment in 1975. The bank incorporated a Hibiscus × rosa-sinensis, also known as the bunga raya, a national flower of Malaysia as its corporate logo, which underwent rebranding 4 times with the exception of its fifth logo, which only consists of the bank's wordmark which formerly stylized in italic as AFFINBANK (first used in 2000) rather than a hibiscus logo. The bank's sixth and current logo, a modernized version of the hibiscus, was introduced on 1 November 2020 and marks the return of its iconic hibiscus logo which was absent for 15 years.[19]

The five petals is stands for Affin, which "acronymised to describe the core values of the bank as an organisation that is always innovating, adapting, placing customer first and emphasising integrity as its foundation",[19][20][21] while its logo evolution represents its transformation "to emerge as a progressive bank of the future by embracing technology and adapting amid an ever-changing business environment".[20] The bank also uses slogans for its identity. From 2005 to 2020, "Banking Without Barriers" (Perbankan Tanpa Sempadan) was its former slogan. Following its corporate rebranding in November 2020, Affin Bank introduces its new slogan, "Always About You" (Sentiasa Untuk Anda).[19][20]

See also

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References

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  1. ^ Justin Lim (4 November 2019). "Affin Bank names Agil Natt as new chairman". The Edge Markets. Retrieved 23 January 2021.
  2. ^ Arjuna Chandran Shankar (2 April 2020). "The Edge Markets - Wan Razly is new Affin Bank CEO". The Edge Markets. Retrieved 23 January 2021.
  3. ^ "The Association of Banks Malaysia - The Council". Retrieved 23 January 2021.
  4. ^ a b c "2019 Annual Report - Corporate Structure" (PDF). Affin Bank Berhad. Retrieved 23 January 2021.
  5. ^ Ayisy Yusof (20 July 2017). "Affin Holdings reorganisation to benefit shareholders". New Straits Times. Retrieved 23 January 2021.
  6. ^ "Official Website - About AFFIN BANK". Retrieved 23 January 2021.
  7. ^ "Official Website – Logo & Tagline". Retrieved 23 January 2021.
  8. ^ a b "Perwira Habib sparkles". The Business Times. 30 August 1979. p. 9. Retrieved 1 October 2019.
  9. ^ "Perdana Menteri resmi Perwira Habib Bank" (PDF). Information Department Office. January 1977. Retrieved 2 October 2019.
  10. ^ "Perwira Habib picks up in second year". The Business Times. 27 September 1978. p. 11. Retrieved 1 October 2019.
  11. ^ "Perwira to forge ahead despite recession". Singapore Monitor. 15 September 1983. p. 13. Retrieved 1 October 2019.
  12. ^ "Perwira Habib Bank boosts capital by M$300m". The Business Times. 21 February 1987. p. 15. Retrieved 2 October 2019.
  13. ^ "Perwira Habib Bank revamp". The Straits Times. 20 February 1991. p. 31. Retrieved 1 October 2019.
  14. ^ "Perwira plans major capital structuring". The Business Times. 21 February 1991. p. 8. Retrieved 1 October 2019.
  15. ^ Dafizeck Daud (27 April 1994). "Najib: Perwira Affin Bank in position to play bigger role". Business Times. Retrieved 2 October 2019.
  16. ^ Dalila Abu Bakar (30 August 2000). "Last three bank mergers completed before deadline". New Straits Times. Retrieved 4 October 2019.
  17. ^ "Sarawak now Affin Bank's largest shareholder with 31.25% stake". Free Malaysia Today. 27 September 2024. Retrieved 2 October 2024.
  18. ^ "EPF Divests Shares in Affin Bank, No Longer a Major Shareholder". Fintech News Malaysia. 18 April 2024. Retrieved 2 October 2024.
  19. ^ a b c "Affin Bank's New Look and Idendity". The Star Online. 11 November 2020. Retrieved 16 September 2023.
  20. ^ a b c Harizah Kamel (5 November 2020). "New logo and tagline for Affin Bank". The Malaysian Reserve. Retrieved 16 September 2023.
  21. ^ Mahanum Abdul Aziz (5 November 2020). "AFFINBANK perkenal identiti, logo baharu". Berita Harian. Retrieved 16 September 2023.
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