AFFIN Bank Berhad Full Year 2024 Earnings: EPS Beats Expectations, Revenues Lag

AFFIN Bank Berhad (KLSE:AFFIN) Full Year 2024 Results

Key Financial Results

• Revenue: RM2.34b (up 23% from FY 2023).
• Net income: RM509.7m (up 27% from FY 2023).
• Profit margin: 22% (in line with FY 2023).
• EPS: RM0.21 (up from RM0.17 in FY 2023).

AFFIN Banking Performance Indicators

• Net interest margin (NIM): 1.45% (up from 1.42% in FY 2023).
• Cost-to-income ratio: 76.9% (up from 71.6% in FY 2023).
• Non-performing loans: 1.94% (up from 1.90% in FY 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

AFFIN Bank Berhad EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) exceeded analyst estimates by 1.1%.

The primary driver behind last 12 months revenue was the Commercial Banking segment contributing a total revenue of RM2.11b (90% of total revenue). The largest operating expense was General & Administrative costs, amounting to RM1.50b (82% of total expenses). Explore how AFFIN's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Banks industry in Malaysia.

Performance of the Malaysian Banks industry.

The company's shares are up 2.2% from a week ago.

Balance Sheet Analysis

While earnings are important, another area to consider is the balance sheet. See our latest analysis on AFFIN Bank Berhad's balance sheet health.

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