How it started
History
Affin Bank was established on 23 October 1975 as Perwira Habib Bank. The bank is a joint venture between Armed Forces Fund Board (LTAT), Syarikat Permodalan Kebangsaan Berhad (SPK) and Pakistani banking company, Habib Bank and began operations on 1 January 1976. The bank's launching ceremony was officiated on 23 October at the Hilton Hotel, Kuala Lumpur.
By September 1978, Perwira Habib Bank opens eight branches in several states including Malacca, Pahang and Terengganu. As of August 1979, the bank has 14 branches in Malaysia.
The bank's loans and advances including trade bills increased to RM731 million in 1983 despite the global economic recession. In 1987, the bank boosts its issued and paid-up capital by RM300 million to RM405 million.
The bank announced in February 1991 that it would underwent a capital restructuring scheme which involves the injection of new capital by existing shareholders and a capital reduction exercise to write off large accumulated losses.
On 21 April 1994, following its acquisition by Affin Holdings Berhad, Perwira Habib Bank changed its name to Perwira Affin Bank after Habib Bank divested its equity interest in the bank.
From Wikipedia’s article on Affin Bank, shared under CC BY-SA 4.0.2