In a filing with Bursa Malaysia, Alliance said the business banking segment improved its operating profit by 15.4 per cent to RM425.80 million. — AFP pic
However, an 11 per cent growth in operating expenses weighed down its consumer banking business, which saw its operating profit drop 12.6 per cent to RM195.56 million although net income was 1.5 per cent stronger at RM562.96 million. The segment's profit was further eroded by a RM33.73 million rise in allowance for expected credit loans for loans, advances and financing.
Alliance Bank’s gross loans and advances grew six per cent year-on-year to RM42.7 billion outpacing the industry loan growth of 4.9 per cent.
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