Higher net interest income lifts Alliance Bank's FY22 earnings

KUALA LUMPUR: Alliance Bank Malaysia Bhd’s net profit jumped to RM572.82 million for the financial year ended March 31, 2022 (FY2022) from RM358.78 million in the preceding year, largely due to higher revenue from net interest income and lower allowance for expected credit losses.

In a filing with Bursa Malaysia, the bank said revenue for the year was slightly higher at RM1.87 billion compared with RM1.82 billion previously, while basic earnings per share rose to 37 sen from 23.18 sen before.