Alliance Bank’s FY21 revenue rises


In a statement, the lender said its net interest income improved by 2.8% year-on-year (y-o-y) to RM1.36bil in FY21 despite the multiple overnight policy rate (OPR) cuts.

PETALING JAYA: Alliance Bank Malaysia Bhd saw its revenue grow 7.6% to RM1.82bil for the financial year ended March 31,2021 (FY21) from RM1.69bil in FY20.

In a statement, the lender said its net interest income improved by 2.8% year-on-year (y-o-y) to RM1.36bil in FY21 despite the multiple overnight policy rate (OPR) cuts.

This was largely driven by lower funding cost arising from deposit mix optimisation. Its net interest margin stood at 2.30%, which is Top 2 in the industry.

During the period in review, Alliance Bank’s non-interest income grew 24.8% y-o-y to RM456.7mil due to improved treasury and investment income, and higher wealth management and brokerage fees.

The higher revenue came from higher treasury and investment income, helped by increases in bond prices and brokerage and wealth management income.

Alliance Bank’s net profit fell 15.4% y-o-y to RM358.79mil in FY21 due largely to higher credit cost as a result of provisioning, mostly in the consumer portfolio. It proposed an interim dividend of 5.79 sen a share, representing a dividend payout ratio of 25%.

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