AFFIN HOLDINGS GAINS RM140 MILLION IN PRE-TAX PROFIT

KUALA LUMPUR, Nov 20 (Bernama) -- AFFIN Holdings Bhd (AFFIN), a home-grown financial services conglomerate, today announced a RM140 million pre-tax profit for its third quarter ended Sept 30, 2009.

This is a 86.2 per cent rise compared to RM75.2 million in the same quarter last year.

The group's nine-month cumulative pre-tax profit is also higher at RM383.2 million compared with RM288.6 million for the Jan-Sept period in the previous financial year, said AFFIN Holdings in a statement. The improved performance is attributed to the increase in both net interest income and other operating income and a reduction in loan loss provisions.

" AFFIN Bank continues to be the main contributor to the group's earnings. Its performance has been further augmented by the significant improvement recorded by the investment bank and life insurance businesses segment," said AFFIN Holdings Chairman Tan Sri Mohd Zahidi Zainuddin.

-- MORE

PPK TOM