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Alliance Bank posts lower 2Q net profit of RM103.94m on higher reserves
KUALA LUMPUR: Alliance Bank Malaysia Bhd posted net profit of RM103.99mil in its second quarter ended Sept 30,2020 compared with RM115.52mil a year ago mainly due to prudent higher reserves.
Indonesia raises US$4bil from bonds, in talks with development banks for US$750mil
JAKARTA, April 29 (The Jakarta Post/ANN): Indonesia has raised another Rp 62.62 trillion (US$4.05 billion) from government debt papers (SUN) and is in talks with several development banks to raise another $750 million to finance its widening state budget amid the fight against the coronavirus pandemic.
GDP growth seen inching lower to 4.6% in 2019
PETALING JAYA: The Malaysian economy is expected to inch lower to 4.6% in 2019 and be at around the same level in 2020, reflecting the ongoing fiscal consolidation and headwinds arising from the slowdown in the global electronics cycle, lower crude oil prices and uncertainty over the outcome of the US-China trade tension.
Bank Negara records higher reserves
KUALA LUMPUR: Bank Negara recorded a US$200mil increase in its international reserves to US$103.9bil as at March 15 from a fortnight ago.
Crude oil holds gains above US$58 per barrel
SEOUL: Oil held gains above US$58 a barrel as trading resumed following the Christmas holiday and after US explorers refrained from adding rigs for a second week.
Oil holds gains above US$58 as US drillers pause rig expansion
SEOUL: Oil held gains above $58 a barrel as trading resumed following the Christmas holiday and after U.S. explorers refrained from adding rigs for a second week.
Banks may not have to raise fresh equity capital
PETALING JAYA: Most banks are unlikely to undertake fresh equity capital raising come 2018 when the new International Financial Reporting Standard (IFRS) 9 takes effect despite an estimated increase of between 30% and 35% in provisions which could dampen earnings.
Fitch: IFRS 9 poses implementation challenges for Asia-Pacific banks
PETALING JAYA: Migration to International Financial Reporting Standard (IFRS) 9, or its local equivalent, is likely to create operational challenges across many of Asia-Pacific's banking systems. These issues would have a negative initial effect on capital, and potentially raise the volatility of earnings and regulatory capital ratios, according to Fitch Ratings.
Affin net profit up 284%
PETALING JAYA: At a time when banking earnings are under pressure due to a subdued sector outlook, Affin Holdings Bhd saw its net profit surge 284% to RM115.56mil in the first quarter ended March 31.
Affin Holdings Q1 earnings surge to RM115m
KUALA LUMPUR: Affin Holdings Bhd saw its earnings surge 284% to RM115.56mil in the first quarter ended March 31, 2016, boosted by lower allowance for loan impairment and higher loan recoveries.
