AEON Credit to leverage strength of brand name
Innovation is one way for us to promote positive customer experience. With this, we will continue to innovate and enhance our products to meet market demands.
NG ENG KIAT AEON Credit chairman
KUALA LUMPUR: AEON Credit Service (M) Bhd, a non-bank financial services provider, will continue to focus on product offerings for the below 40 per cent (B40) and middle 40 per cent (M40) income household groups.
AEON Credit chairman Ng Eng Kiat said the company aimed to maintain its performance and improve customer loyalty by leveraging the strength of the AEON brand.
“Innovation is one way for us to promote positive customer experience. With this, we will continue to innovate and enhance our products to meet market demands, and most importantly, to stay relevant in the competitive market,” said Ng.
He said the company would continue to adopt technology initiatives and solutions to improve performance and customer experience.
AEON Credit posted a net profit of RM354.6 million in year ended February 28, up 18.2 per cent from the RM300.1 million recorded previously.
Revenue grew 10.6 per cent to RM1.37 billion, from RM1.24 billion recorded previously.
Gross financing receivables improved by 18.8 per cent to RM8.69 billion compared with RM7.32 billion previously, while net financing receivables improved 20.9 per cent to RM8.11 billion from RM6.70 billion.
The company recorded a nonperforming-loans ratio of 2.04 per cent compared with 2.33 per cent as at February 28 last year.
In an effort to widen its customer base and ensure payment transactions are seamless and convenient, the company introduced AEON Wallet and AEON Member Plus Visa card in November last year.
“We have registered more than 700,000 cardholders for our e-money card to date.
“We are on track to achieve one million cardholders for the e-money card within a year after its launch in November last year,” said Ng, adding that efforts were ongoing to upgrade services to the more than five million loyalty card members.
Ng noted that the e-wallet app was developed primarily to serve customers’ retail needs.
The app will be enhanced further to cater to their demands.
“We are not in competition with other providers and we welcome collaboration with other providers as a way to creating a smart and sustainable business model,” he added.