Affin Bank Berhad | Annual Report 2020

265 AFFIN BANK BERHAD 197501003274 (25046-T) | ANNUAL REPORT 2020 1 GENERAL INFORMATION There have been no significant changes in the principal activities of the Group and the Bank during the financial year. The Bank is principally engaged in all aspects of banking and related financial services. The principal activities of the Bank and its subsidiaries are commercial banking and hire purchase business, Islamic banking business, investment banking and stock- broking, money-broking, fund and asset management, property management services, nominee and trustee services. The principal activities of the joint ventures are underwriting of life insurance business and property development while the associates are principally engaged in general insurance business and investment holding. The holding corporate body is Lembaga Tabung Angkatan Tentera, a statutory body incorporated under the Tabung Angkatan Tentera Act, 1973. The Bank is a public limited liability company, incorporated and domiciled in Malaysia, and listed on the Main Market of Bursa Securities as at 31 December 2020. 2 CASH AND SHORT-TERM FUNDS The Group The Bank 2020 2019 2020 2019 RM’000 RM’000 RM’000 RM’000 Cash and bank balances with banks and other financial institutions 1,059,629 1,057,541 449,299 494,922 Money at call and deposit placements maturing within one month 4,401,768 3,547,839 1,438,317 1,822,482 Less: Expected credit losses (32) (23) (32) (35) 5,461,365 4,605,357 1,887,584 2,317,369 The cash and short-term funds is inclusive of remisiers’ trust monies of RM65,792,000 (2019: RM47,483,000). Cash and short term funds of the Group also include restricted cash which could be utilised only for the creation and cancellation of units of the fund managed by the Group in accordance with Section 111 of the Capital Markets and Services Act 2007. The total restricted cash of the Group amounted to RM283,648,000 (2019: RM406,232,000). 3 DEPOSITS AND PLACEMENTS WITH BANKS AND OTHER FINANCIAL INSTITUTIONS The Group The Bank 2020 2019 2020 2019 RM’000 RM’000 RM’000 RM’000 Licensed banks 50,058 - - 41,385 Less: Expected credit losses - - - (17) 50,058 - - 41,368 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2020