AEON Credit valuations to hinge on banking arm

AEON Bank is projected to see losses peak in FY26 and gradually ease from FY27 with breakeven targeted in FY28 and profitability by FY29.

PETALING JAYA: Aeon Credit Service (M) Bhd’s valuations will likely be driven by the performance of its loss making subsidiary, AEON Bank (M) Bhd, which is Malaysia’s first Islamic digital bank.

AEON Credit’s management expects the bank to only post a profit in financial year 2029 (FY29) and to run losses till then due to expansion and product development related costs.