Alliance Bank’s FY21 revenue rises

In a statement, the lender said its net interest income improved by 2.8% year-on-year (y-o-y) to RM1.36bil in FY21 despite the multiple overnight policy rate (OPR) cuts.

PETALING JAYA: Alliance Bank Malaysia Bhd saw its revenue grow 7.6% to RM1.82bil for the financial year ended March 31,2021 (FY21) from RM1.69bil in FY20.

In a statement, the lender said its net interest income improved by 2.8% year-on-year (y-o-y) to RM1.36bil in FY21 despite the multiple overnight policy rate (OPR) cuts.

This was largely driven by lower funding cost arising from deposit mix optimisation. Its net interest margin stood at 2.30%, which is Top 2 in the industry.