Affin Holdings Q4 net profit surges to RM171.4mil

Affin said in a stock exchange filing that both parties were not able to finalise the transaction documents for the sale of the stake in time and in accordance with the central bank

PETALING JAYA: Affin Holdings Bhd’s net profit for the fourth quarter ended Dec 31, 2016 was up by 76% to RM171.4mil from a year ago propelled by the robust performance of its commercial banking unit, lower allowance for loan impairment and higher net income.

This was achieved on the back of a higher revenue of RM527.8mil against RM464.8mil in the corresponding quarter in 2015.