Higher net interest income lifts Alliance Bank's FY22 earnings

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Higher net interest income lifts Alliance Bank's FY22 earnings
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Largely due to higher revenue from net interest income and lower allowance for expected credit losses.

In a filing with Bursa Malaysia, the bank said revenue for the year was slightly higher at RM1.87 billion compared with RM1.82 billion previously, while basic earnings per share rose to 37 sen from 23.18 sen before.

In a separate statement, the bank said its net interest income improved 8.8 per cent year-on-year to RM1.48 billion in FY2022 while client-based fee income increased by 3.5 per cent y-o-y. Pre-provision operating profit grew to RM1.04 billion, exceeding the RM1 billion mark for the second year. Current account savings account deposits grew 3.4 per cent y-o-y, attributable to the increased opening of Alliance SavePlus Accounts, which contributed towards an improved CASA ratio of 48.9 per cent, maintaining the bank at the top of the industry.

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