KUALA LUMPUR: Affin Bank Bhd
has joined hands with Marriott International Inc to “ride the wave of growth” from Malaysia’s tourism and hospitality rebound, with a target to double its credit card receivables to RM1bil within 12 months, while Marriott expands its footprint in the country ahead of Visit Malaysia 2026.
The bank’s president and group chief executive officer Datuk Wan Razly Abdullah said the collaboration goes beyond offering co-branded privileges and is aimed at building volume growth across both hotel bookings and card transactions.
“Our ending net receivables today were about RM500mil. We want to double that to a billion in the shortest possible time – if not by this year-end, then by the middle of next year,” he said at the partnership launch earlier today.
The exclusive card benefits are tailored to Affin’s high-net-worth customers for its Invikta and Diventium private banking offerings, who require a minimum deposit of RM200,000.
Wan Razly said the segment has seen the fastest growth, with assets under management reaching RM20bil across 2,500 customers.
He added that the collaboration with Marriott, initially for a year, could also extend into corporate funding opportunities for hotel owners and new investors, describing it as offering “endless possibilities”.
“We haven’t limited the partnership. Hotel owners may need assistance, new hotels are coming on stream, and potential investors may be interested. We want to be a complete banking partner for the Marriott Bonvoy Group,” he said.
Meanwhile, Marriott International Market vice-president for Malaysia George Varughese said the group currently has 58 hotels across 20 brands in Malaysia, with four more slated to open by year-end.
“We hope to reach close to 75 hotels in the next couple of years. Occupancy rates across Malaysia remain robust and strong,” he said.
Asked if Affin is Marriott’s only banking partner, George said: “At the moment, yes. But we also work with many other banks.”
On a separate matter, Wan Razly explained that the poor results of Affin's investment banking arm recently was due to a weaker market sentiment and reduced trading volumes.
Affin Hwang Investment Bank Bhd saw its profit before tax decline 26.5% to RM36.7mil in the first half ended June 30 (1H25), from RM50.7mil in the same period last year.
“In the first half, we’ve seen a lot of volatility in the stock market, with average trading volumes on Bursa almost halved. That reduced our stockbroking revenue.
"We think this is temporary. With more clarity on tariff issues, we expect stability to return,” he said, adding that this year remains one of volatility, uncertainty, complexity and ambiguity.
Still, he noted that there are undervalued stocks and opportunities for clients to capitalise on despite the market uncertainty.
Overall, Affin reported that its revenue rose 16.1% year-on-year to RM1.16bil in 1H25 from RM999.3mil, while net profit grew 16.9% to RM267.6mil from RM228.8mil.
The performance was underpinned by growth in its retail banking and insurance segments.
