Affin Holdings subscribes for 100mil new bank shares

  • Business
  • Saturday, 04 Jan 2003

Affin Holdings Bhd had subscribed for 100 million new shares of RM1 each in Affin Bank Bhd (ABB) as at Dec 30, 2002 as part of the bank's capitalisation exercise, the company said in a statement. 

Consequently, Affin Bank's paid-up capital has increased to RM1,009,630,917 from RM909,630,917. 

The capital injection into Affin Bank would be used as working capital for its business operations to facilitate further loans growth, and the launch of new products and services. 

Affin Holdings said this would further enhance the financial position of the bank and allow it to continue operating efficiently. 

In addition, the risk-weighted capital ratio is estimated to further improve by 0.6% to 9.1% (excluding the profits for the year 2002), it added. – Bernama  

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