Alliance Bank group CEO Kellee Kam
KUALA LUMPUR: Alliance Bank Malaysia Bhd
is looking to continue its growth momentum into 2025 as it paces ahead with its Acceler8 transformation strategy.
The group recorded a net profit of RM186.67mil in the third quarter ended Dec 31, 2024, up from RM176.86mil in the year-ago quarter.
Earnings per share rose to 12.06 sen from 11.42 sen previously, while revenue climbed to RM561.28mil from RM509.92mil.
Over the nine-month period to Dec 31, 2024, the group posted a net profit of RM552.23mil as compared to RM512.73mil in 9MFY24 and higher revenue of RM1.71bil as compared to RM1.5bil in the previous corresponding period.
"Our Acceler8 strategy serves as a strong foundation for sustainable growth. The progress across all eight pillars reflects our commitment to delivering differentiated solutions that support customers at every stage of their journey," said CEO Kellee Kam in a statement.
During the three cumulative quarters, the group said net interest income rose 13.9% year-on-year (y-o-y), driven by higher loan volumes while net interest margin stood at 2.46%.
Non-interest income grew 11% y-o-y to RM256.3mil, driven by higherwealth management income, foreign exchange sales and trade fees, and treasury and investment income.
The cost-to-income ratio for the nine-month period improved to 46.8%, as revenue grew 13.5% y-o-y, outpacing the 10.1% increase in operating expenses due to continued investments in people and technology.
Overall loans expanded 14.2% y-o-y to RM61bil, while customer deposits rose 13.3% y-o-y, mainly from fixed deposits which grew 26.1% y-o-y. The current account savings account (Casa) ratio moderated to 39.4%.
