KUALA LUMPUR, Nov 27– Alliance Bank Malaysia Bhd’s net profit slipped to RM103.94 million in the second quarter ended Sept 30, 2020 (Q2FY21) from RM115.52 million in the same quarter last year.
Revenue, however, rose to RM474.45 million from RM427.43 million previously on the back of an improvement in the non-interest income, the bank said in a filing with Bursa Malaysia today.
For the six-month period, Alliance Bank’s net profit rose to RM208.26 million from RM192.21 million in the same period last year while revenue grew 7.6 per cent year-on-year to RM896.1 million.
In a separate statement, group chief executive officer Joel Kornreich said the bank continued to focus on two key priorities in helping its customers stay resilient during the pandemic and accelerating its digitisation initiatives to scale up and reach more customers, improve client engagement and drive better cost efficiency.
He said in the first half of of the financial year ending March 31, 2021, Alliance Bank provided RM5 billion in targeted assistance to individuals and business clients.
“Of this, over RM2.1 billion was for the three-month extended loan/financing moratorium and RM2.9 billion was for payment relief assistance packages. The approval rate was 98 per cent,” he said.
He added that the bank did not declare a first interim dividend in the second quarter and would consider future dividend proposals once the full economic impact of the COVID-19 pandemic is clearer. – BERNAMA