PETALING JAYA: Alliance Bank Malaysia Bhd
will focus on expanding customer acquisition through new channels, digital platforms, strategic partnerships, productivity improvements and branch enhancements.
The bank, which reported a record net profit of RM690.48mil for its financial year ended March 31, 2024 (FY24), also aims to increase client wallet share by enhancing product and channel offerings in its consumer and business banking segment, drive fee income and maximise cross-business unit collaboration.
“With a focus on prudent loan growth above industry averages, robust credit risk management practices, enhancement of deposit/current account savings account propositions and continued investments in technology, we aim to further expand market share in FY25,” it said in a statement.
The bank aims to strengthen its Islamic banking propositions by expanding differentiated solutions like “Halal-in-One”.
Alliance Bank’s FY24 was marked by record-high bottom line and revenue as the bank continued to grow its business with improvement in both net interest income and non-interest income.
The FY24 results affirm the direction and strong execution of its Acceler8 strategy, said group chief executive officer Kellee Kam.
“Our full-year performance validates our strategic direction as we continue to transform to fulfill our brand purpose of becoming ‘The Bank For Life’ for our customers, delivering value and serving as a dependable partner at every step of their financial journey,” he said.
For the fourth quarter ended March 31 (4Q24), Alliance Bank reported a net profit of RM177.74mil and revenue of RM516.17mil, compared with earnings of RM130.17mil and revenue of RM468.61mil in 4Q23.
Earnings per share for 4Q24 rose to 11.48 sen from 8.41 sen in 4Q23. Its full-year net profit amounted to RM690.48mil against RM677.85mil in FY23, while revenue grew to RM2.02bil from RM1.92bil in FY23.
The bank proposed a second interim dividend of 11.45 sen per share, which brings the total dividend in FY24 to 22.3 sen per share, representing a 50% payout ratio.
