Alliance Bank eyeing 10% net profit growth for FY19

KUALA LUMPUR: Alliance Bank Malaysia Bhd is targeting a net profit growth of 10% for the financial year ending March 31, 2019 (FY19), driven by its asset growth and the reduction of recurring expenses from its transformation initiatives.

At a press conference after its AGM here today, group CEO Joel Kornreich said the bank is also eyeing a revenue growth of 6% and loan growth of 10%.

For FY19, it will scale up growth of its core transformation initiatives, which are SME banking expansion, Alliance One account and Alliance@Work.

The bank anticipates that these strategic business focuses will help to achieve its FY19 targets.