KUALA LUMPUR, June 25 — Alliance Bank Malaysia Bhd’s net profit for the full year ended March 31, 2020 declined 21.1 per cent to RM424.26 million from the same period last year due to credit losses stemming from the impairment of a few large accounts during the first quarter of this year. In a...
Alliance Bank Malaysia Bhd’s net profit for the full year ended March 31, 2020 declined 21.1 per cent. — File pic
In a filing with Bursa Malaysia, the bank said net profit was also affected by increased credit costs from its mortgage portfolio and the early effects of the Covid-19 pandemic. According to the bank, gross loans and advances grew by 2.2 per cent year-on-year to RM43.7 billion, small and medium-sized enterprise loans expanded by 7.8 per cent YoY and consumer unsecured loans grew by RM208 million or 10.6 per cent YoY.
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