KUALA LUMPUR, Feb 28 — Alliance Bank Malaysia Bhd’s net profit increased by 50.3 per cent to RM151.02 million in the third quarter (Q3) ended Dec 31, 2021 from RM100.46 million in Q3 2020, mainly due to higher interest income and lower credit cost.
Revenue also rose to RM480.18 million from RM475.70 million previously, the bank said in a filing with Bursa Malaysia today.
“Other operating income decreased by 35.3 per cent due to lower treasury and investment income and wealth management income, service charges and credit card fees offset by higher foreign exchange sales contract by customers,” it said.
It said the bank continues to extend help to customers requiring financial assistance.
Loans under payment relief amounted to RM9.25 billion or approximately 21 per cent of its total loan portfolio as at Feb 16, 2022.
Meanwhile, group chief executive officer Joel Kornreich said the bank plans to achieve RM5 billion in new sustainable banking business by the end of financial year 2025, reduce its greenhouse gas emissions and help its business clients transition towards more sustainable practices.
It recently launched a sustainability microsite to provide transparency on its sustainability disclosures.
“We have achieved RM1.6 billion in new sustainable business financing and will be launching several sustainable financing and investment propositions in 2022.
“We will also continue reducing greenhouse gas emissions in our operations, and will disclose the reduction plans and targets soon,” he added. — Bernama