Alliance Bank posts jump in 1HFY22 net profit to RM318.76mil


  • Banking
  • Friday, 26 Nov 2021

KUALA LUMPUR: Alliance Bank (M) Bhd recorded a net profit of RM318.76mil in the first half of its financial year ending March 31, 2021, 53.06% higher compared to RM208.26mil in the previous corresponding period on the back of higher income of RM935.94mil.

Pre-provision operating profit was up 5.5% y-o-y to RM547mil on the back of the improved revenue. Cost-to-income ratio also rose to 41.6%.

The bank declared a first interim dividend of 8.3 sen, representing a total dividend payout ratio of 40%.

Over the six months period, the bank's net interest income increased 8.5% year-on-year (y-o-y) to RM723.2mil while net interest margin rose 19 bps to 2.49%.

Non-interest income, however, declined 7.3% y-o-y to RM547mil due to reduced treasury and investment income.

Net credit cost in 1HFY22 was 29.3bps including a management overlay of 19.6bps.

Meanwhile, current account savings account (Casa) deposits grew 14.1% y-o-y, which led to Casa ratio improving to 49.6%.

The bank’s capital positions remained strong as Common Equity Tier-1 ratio stood at 17.1%, while Tier-1 Capital ratio was at 18% and total capital ratio was at 22.3%.

Liquidity coverage ratio was at 165.7% while the loan to fund ratio stood at 86.5%.

In a statement, the bank said it was making good progress on its strategic priorities of acquiring more clients in the SME and consumer segments, deepening customer engagement and improving efficiencies.

“By the end of financial year 2026, we aim to be among the Top 4 banks in SME market share in Malaysia and be a personal banker of choice to business owners,” said Alliance Bank group CEO Joel Kornreich.
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Alliance Bank , Joel Kornreich

   

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