Alliance Financial says it can hold its own against bigger banks

General meeting: (from left) Kornreich, Alliance Financial Group Bhd chairman Datuk Oh Chong Peng and Alliance Bank Malaysia Bhd group CFO Raymond Wong Lai Loong at AFG’s AGM and EGM.

KUALA LUMPUR: Alliance Financial Group Bhd (AFG), the smallest financial institution in terms of asset size, has dismissed speculation that it is the subject of a merger.

The bank, which has seen some changes in shareholding, said it was financially sound and looking to lift its returns to shareholders.