Group chief executive officer Joel Kornreich said the bank remained vigilant in managing its credit portfolio, and prudent in its provisioning in view of the challenges enterprises face.
PETALING JAYA: Shares in Alliance Bank Malaysia Bhd
fell 33 sen after the bank announced that its net profit in the first quarter (1Q) ended June 30 came in lower by 44% to RM76.68mil, as it made a full provision and impairment amounting to RM74.9mil for a few large accounts.
At the end of the trading session, the stock closed at RM2.92, down 10.2% from its previous day’s close of RM3.25.
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