CEO Joel Kornreich said the banking group continues to deliver good financial results because of its strategy of focusing on risk adjusted returns, effective risk management measures and optimisation of balance sheet mix.
KUALA LUMPUR: Alliance Financial Group Bhd is targeting overall portfolio loans growth in the mid single digits in its financial year 2018 (FY18 ending 31 March).
Its group chief executive officer Joel Kornreich said in a press conference after its AGM and EGM earlier today that revenue growth would be in the ‘mid to slightly higher’ single digit revenue growth in FY18.
“We will continue to see steady and strong loans growth in commercial and the corporate segments while for the small and medium enterprises it would be at about 14% which is quite significant. In the consumer segment it is going to be more mixed where we will see the (impact) on the hire purchase portfolio and we are not putting any emphasis on that while we will continue to see strong growth in the personal loans portfolio,” he said.
“Towards the end of the financial year you will see a significant change in the trajectory of our mortgages where in the last couple of years the growth in mortgages has actually tapered off and actually the portfolio has actually contracted in the last year but with our Alliance One Account that we will be able to originate about a billion ringgit this financial year,” he added.
All the resolutions tabled at its AGM and EGM were passed by shareholders.
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