Aeon Credit’s digital bank poised to spur growth

PETALING JAYA: RHB Research is maintaining its hopeful outlook on Aeon Credit Service Malaysia Bhd (ACSM), after having gleaned further details into its digital bank ACS Digital Bhd (ACSD), which is scheduled to be launched by the first quarter of 2024.

Analysts from the research house, having met with a representative from ACSD – which is jointly owned by ACSM and Aeon Financial Service Japan Co Ltd (AFS) – were briefed on the bank’s prospective products and acquisition strategies, along with the initial expected startup losses of RM50mil to RM60mil during its first year.