by DayakDaily Team
KUCHING, May 7: Affin Group received its first international credit rating of A3 with stable outlook from Moody’s Ratings, underscoring the bank’s strong finances, solid asset quality, and healthy capital.
The rating marks a significant milestone in the group’s 50-year history, reflecting its evolution and strength. The Sarawak government currently holds a 31.25 per cent equity stake in the bank, further reinforcing its institutional backing.
According to a news report by The Edge, Affin Bank Bhd’s president and group chief executive officer, Datuk Wan Razly Abdullah, described the rating as a historic first for Affin and a proud achievement in the group’s five-decade journey.
He highlighted that this strong rating enhances Affin’s global standing, particularly among international investors in areas such as trade finance, correspondent banking, and the US dollar capital markets.
He also pointed out that this recognition affirms the strength of the Axelerate 2028 (AX28) Plan, which is built on three strategic pillars: unrivalled customer service, digital leadership, and responsible banking with impact.
“These principles continue to guide Affin’s transformation, enabling the group to deliver exceptional customer experiences, embrace cutting-edge digital innovation, and champion sustainable banking practices that create meaningful value for communities and the environment,” he noted.
Meanwhile, Moody’s highlighted several key strengths of the bank, including Affin’s low bad loan ratio of 1.9 per cent, strong capital ratio of 14.5 per cent, and stable funding supported by growing current account savings account (CASA) deposits.
The group is also reported to have limited exposure to high-risk sectors, although it remains subject to some market risks from currency and trading activities. – DayakDaily
