KUALA LUMPUR, 3 April 2026 — Affin Bank Berhad (KLSE:AFFIN) has obtained approval from Bank Negara Malaysia (BNM) to proceed with its proposed acquisition of Pheim Asset Management Sdn Bhd for RM50 million, marking a step forward in its expansion into the asset management segment.

In a filing with Bursa Malaysia, the bank said BNM had granted approval via a letter dated April 2, 2026, which was received on the same day.

The approval is subject to conditions, including post-completion reviews of certain operational processes within the Pheim AM Group, as well as an independent external review prior to system integration, the bank said.

The proposed acquisition involves the purchase of the entire equity interest in Pheim Asset Management and is expected to strengthen Affin Bank’s presence in the wealth and asset management space.

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Katherine (Kay)
Kay like to explores the intersection of money, power, and the curious humans behind them. With a flair for storytelling and a soft spot for market drama, she brings a fresh and sharp voice to Southeast Asia’s business scene.
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