KUALA LUMPUR, Feb 28 ― Affin Bank Bhd posted a lower net profit of RM487.77 million for the financial year ended December 31, 2019 (FY19) against RM503.09 million in the preceding year, as its share of profits in associate company AXA Affin General Insurance fell by RM16 million.

However, the group's revenue edged up to RM1.93 billion from RM1.92 billion previously.

In a statement today, Affin Bank Bhd chairman Datuk Agil Natt said the bank’s growth was driven by its Affinity Programme, which had made significant progress to date.

"Much of our focus this year has been on investing in our people and technology, including our digitalisation plans, which we consider significant milestones in our quest to get closer to our customers and enhance the customer experience,” he said.

He said in line with the bank’s dividend policy, a final dividend of seven sen per share had been proposed by the board of directors.

He added that the board had also determined that the dividend reinvestment plan (DRP) be applied to the said proposed final dividend and 100 per cent of the proposed final dividend could be elected to be reinvested into new Affin Bank shares. ― Bernama