PETALING JAYA: Affin Bank Bhd has completed its acquisition of a 100% stake in Pheim Asset Management Sdn Bhd for RM50 million cash.
AFFIN Group president and group CEO Datuk Wan Razly Abdullah said the deal strengthens the bank’s wealth platform and investment offerings.
“This enhances our ability to deliver more integrated and scalable solutions to customers,” he said in a statement.
“Our focus is on ensuring a seamless integration that preserves client continuity, aligns capabilities, and delivers sustained value to our customers, employees, and stakeholders.”
The bank said the acquisition strengthens its push to expand wealth management and fee-based income.
Established in 1993, Pheim AM is involved in asset management. Its subsidiaries, Pheim Islamic Asset Management Sdn Bhd and Pheim Unit Trusts Bhd, provide Islamic asset management and unit trust services.
As at March 31, 2026, the group managed RM832.8 million in assets under management and advisory, serving institutional, corporate and retail clients.
Pheim AM will operate as a wholly owned subsidiary of Affin Bank.
The bank said the acquisition also strengthens the bank’s distribution capabilities and broadens its range of banking, investment and wealth management solutions.
