PETALING JAYA: Alliance Bank Bhd posted a flat net profit RM111. 77 million for the fourth quarter ended March 31, 2019 against RM112.87 million in the previous corresponding period.
Its revenue also remained stable at RM403.44 million against RM403.53 million previously.
It has proposed a second interim dividend of 8.2 sen per share for the quarter under review.
Alliance Bank’s full-year net profit grew 9% to RM537.59 million from RM493.23 million reported in the previous year, with revenue rising 3.2% to RM1.62 billion from RM1.57 billion.
On the whole, the group attributed its financial performance to the 8.9% growth for its net interest income, driven by stronger loans growth and improved loan mix from better risk adjusted return loans.
Alliance Bank’s total loans grew 6% to RM42.7 billion, outpacing the industry loan growth rate of 4.9%. Its net interest margin (NIM) gained 10 basis points to 2.5%, mainly due to the positive impact of the overnight policy rate hike in January 2018 and improved margins from better risk adjusted return loans.
Its NIM is expected to stabilise around 2.4% in FY2020.