Affin Bank expects loan growth to ease this year at 10-11%

Affin Bank president and group chief executive officer Datuk Wan Razly Abdullah

KUALA LUMPUR: Affin Bank Bhd expects its loan growth to ease at 10 to 11 per cent for the fiscal year 2023 versus the 15 per cent growth recorded last year, citing a cautious outlook for the whole banking sector.

President and group chief executive officer Datuk Wan Razly Abdullah Wan Ali said the year could be challenging due to strong economic headwinds in the United States (US) and the slowdown in Europe, with both markets likely to experience a recession.