Affin Bank deposit rises 11pc on OMG boost
KUALA LUMPUR: Affin Bank Bhd posted a year-on-year retail deposit growth of 11 per cent last year on the back of its “OMG” campaign.
Group chief executive officer Kamarul Ariffin Mohd Jamil said the performance was in line with its long-term Affinity Transformation Programme, which envisioned it to be the preferred bank by next year.
“We will be focusing on our retail segment, namely through current account saving account (Casa) and small and medium enterprises, this year,” he said at the OMG campaign prize-giving ceremony, here, yesterday.
The OMG campaign, which entered its seventh year, saw RM500 million deposited during the six-month campaign, with 49,955 new accounts opened.
“Of those, 36,000 were fixed deposit accounts and the rest Casa.”
Kamarul said the OMG campaign had helped to grow the banks’ number of depositors in the double digits on average since its launch in 2011.
He is positive on its prospects for the current year, noting that the bank’s profitability would remain on track, as laid in the Affinity programme.
“For last year, the numbers were good and for this year, it would be the same as last year, in line with our Affinity Transformation programme, which will end next year.
“We will also introduce a new system to enhance services for retail and mobile Internet banking, with the e-wallet expected to be released in the final quarter,” he said.
For the year ended December 31 2018, Affin Bank’s net profit rose 20.4 per cent to RM503 million from RM417.8 million in the previous year.
Revenue was 23 per cent higher at RM1.92 billion from the RM1.56 billion in 2017.
Meanwhile, 92 OMG campaign winners brought home prizes worth RM700,000, including a Mercedes Benz GLA and holiday packages.