Alliance Bank Malaysia Berhad (Alliance Bank) announced a net profit after tax of RM512.7 million for the nine months ended 31 December 2023 (9MFY2024).

Net interest income grew 1.8% year-on-year (“YOY”), driven by higher loans volume while net interest margin was at 2.48%. Non-interest income (excluding brokerage) performed well, growing 18.9% to RM230.7 million, mainly from higher wealth management income, foreign exchange fees as well as banking services fees. Overall revenue grew 3.7% YOY to RM1.5 billion while cost-to-income ratio was at 48.2%.

The Bank maintained its growth velocity in the business banking segment, acquiring 9,200 new-to-bank business customers and achieving double digit SME loan growth.

This enabled the Bank to continue gaining SME loan market share, which has now exceeded 5.1%. The Bank’s focus on supporting business customers through their life cycle has translated into strong growth in business banking client fee income (+28% YOY).

The consumer segment continued to expand at an accelerated pace with 80,000 new-to-bank customers, driven by digital acquisition and focus on the emerging affluent segment. Accordingly, consumer loans grew 10.8% YOY, outpacing the industry’s 6.6% growth as at December 2023.

The Bank’s efforts in embedding ESG in its business strategy have led to its sustainability loans growth doubling YOY to RM380 million in financing approved via its Sustainability Assistance Programme (“SAP”), representing over 120% of the Bank’s FY2024 target of RM300 million in green financing. SAP, which offers practical ESG consultations, diagnostic assessments, and personalised financial and non-financial assistance to support SMEs on their sustainability journey, was recently awarded with a Gold in the ESG category at the Qorus Reinvention Awards – APAC 2023.

On the Islamic banking front, the Bank sustained its momentum at 7% YOY growth driven by its flagship Halal in One Programme which helps business owners venture into and succeed in the halal sector.

In December 2023, Alliance Islamic Bank launched the Zakat Microfinancing Programme, Malaysia’s first Islamic social funding programme which utilises zakat wakalah to help uplift the livelihoods of underserved asnaf micro-entrepreneurs.

The Bank successfully achieved a cumulative RM12.3 billion of new sustainable banking business as it moves closer towards the RM15 billion FY2027 goal.

The Bank further strengthened its partnership with UN Global Compact Network Malaysia & Brunei (“UNGCMYB”) with an extended 3-year partnership announcement as well as jointly-launching a digital climate assessment tool called PRO-GRESS, enabling SMEs to assess their sustainability status and generate a Climate Action plan for their businesses.

At the same time, the Bank will also run capacity building workshops with UNGCMYB to assist SMEs in sustainable-trade readiness and business resiliency towards ESG compliance, supported by the Sarawak state government.


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