The success of the Affin Bank Bhd’s Affinity in Motion (AIM22) strategy, its three-year metamorphosis plan which ended last year, has delivered sustainable shareholder returns and created long-term value for all stakeholders.
In its annual report 2022 released today, the group said it will build on this momentum with its next three-year strategic plan, the Affin 2025 Plan (A25 Plan), which will focus on the three main strategic objectives, namely unrivalled customer service, digital leadership, and responsible banking with impact.
“The goal is to continually focus on growing business segment-led strategy; in particular, Group Community Banking, Group Enterprise Banking, Islamic Banking, Group Treasury and Affin Hwang Investment. For the group to unlock its aspiration and achieve its targets, the A25 Plan framework was established and this strategic plan is steered by five key strategic thrusts: sustainable return on equity, banking 4.0, efficiency 5x, enhance brand value, and environmental, social and governance focus,” it said.
Affin Bank said the easing of domestic financial conditions is expected due to prospects of a slowdown in the United States monetary policy tightening and positive investor risk sentiment.
“Global financial conditions eased amid continued expectations for smaller interest rate increases by the US Federal Reserve moving forward, as inflation showed tentative signs of slowing down,” it said. Additionally, it said China’s re-opening post-COVID-19 and its expected positive spill-over to the global economy contribute to improved investors’ risk sentiment.
For 2023, the group said it has positioned itself effectively and set the RUN23 (Revolutionise Digital, Unrivalled Customer Services, Navigating Uncertainties 2023) chapter towards achieving the A25 aspirations.
Key focus areas under RUN23 include maximising overall value creation and brand value proposition through branch transformation and expansion; enhancing and ramp-up technological infrastructure and digital capabilities; investment banking & advisory as well as securities business; among others.
“With strong fundamentals and a well-positioned strategy, the group is committed to advancing its transformation journey to become a leading financial solution provider of the future by leveraging innovative technologies and features to deliver outstanding customer service and foster new business opportunities,” it said.
