Higher net interest income revenue lifts Alliance Bank’s Q1 net profit | Malay Mail

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KUALA LUMPUR, Aug 27 — Alliance Bank Malaysia Bhd’s net profit increased to RM146.01 million in the first quarter (Q1) ended June 30, 2021 (FY2022) from RM104.31 million in the same period a year earlier largely due to higher revenue from net interest income and other operating income. Revenue...

KUALA LUMPUR, Aug 27 — Alliance Bank Malaysia Bhd’s net profit increased to RM146.01 million in the first quarter ended June 30, 2021 from RM104.31 million in the same period a year earlier largely due to higher revenue from net interest income and other operating income.In a filing with Bursa Malaysia today, the bank said net interest income improved by RM37.4 million or 11.4 per cent year-on-year while net interest margin came in higher at 2.5 per cent.

However, Alliance Bank said it is committed to grow its loans, advances and financing portfolios in the current financial year ending March 31, 2022. “Through our funding strategy, the group’s liquidity coverage and loans-to-funds ratios stood at 170.3 per cent and 84.8 per cent respectively,” it said.

Alliance Bank said given the ongoing impact of the Covid-19 pandemic, it would continue to extend its Payment Relief Assistance packages to help individuals and businesses facing cash flow constraints.

 

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