Affin Bank anticipates moderation in loan growth

“Given the high interest-rate environment, people will be wanting to preserve their cash, leading to lesser spending. Hence, we see a tapering of demand,” Wan Razly said.

PETALING JAYA: Affin Bank Bhd anticipates a moderation in its loan growth following the robust 15.4% expansion achieved in its financial year ending on Dec 31, 2022 (FY22), due to the global economic headwinds.

President and group chief executive officer Datuk Wan Razly Abdullah expects a slowdown in loan growth to between 10% and 11% in FY23.