AFFIN Bank Berhad (KLSE:AFFIN) Full Year 2023 Results
Key Financial Results
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Revenue: RM1.91b (up 18% from FY 2022).
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Net income: RM402.2m (up by RM349.1m from FY 2022).
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Profit margin: 21% (up from 3.3% in FY 2022). The increase in margin was primarily driven by higher revenue.
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EPS: RM0.17 (up from RM0.024 in FY 2022).
AFFIN Banking Performance Indicators
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Net interest margin (NIM): 1.42% (down from 2.01% in FY 2022).
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Cost-to-income ratio: 71.6% (up from 43.0% in FY 2022).
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Non-performing loans: 1.90% (down from 1.97% in FY 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
AFFIN Bank Berhad Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 5.4%. Earnings per share (EPS) also missed analyst estimates by 20%.
Looking ahead, revenue is forecast to grow 9.5% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Banks industry in Malaysia.
Performance of the Malaysian Banks industry.
The company's shares are down 1.2% from a week ago.
Risk Analysis
You should always think about risks. Case in point, we've spotted 2 warning signs for AFFIN Bank Berhad you should be aware of.
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