KUALA LUMPUR, July 1 (Bernama) -- Alliance Bank Malaysia Bhd is optimistic that the banking industry is well positioned to progress and navigate the potential headwinds with steady domestic fundamentals and an outlook that remains conducive to sustainable economic growth.
In a joint statement by chairman Ahmad Mohd Don and group chief executive officer Kellee Kam, Alliance Bank will continue delivering on commitments to putting the customers first with greater value propositions and innovative digital transformation, while remaining adaptable to the changes within the operating environment to fulfil growth ambitions under Acceler8 strategy.
“Through the Acceler8 strategy, we diversified our portfolio, gaining access to new markets and consumer segments.
“In FY2024, we successfully grew the overall bank loan market share from 2.41 per cent in the financial year 2023 (FY2023) to 2.58 per cent in FY2024, driven by higher loan volumes in the small and medium enterprises (SME), consumer and corporate segments,” they said in the bank’s annual report 2024.
They also said the bank focused on efforts to tap into new market segments and business verticals, regional expansion, championing sustainability, as well as driving synergies and value creation through digital innovations and partnerships.
On becoming the regional champion, they noted that the bank focused on strengthening its market presence and reach across the country, particularly in key economic growth corridors such as Penang and Sarawak in FY2024.
“By becoming the preferred Bank for Life to consumers, businesses and local communities that we serve, we recorded strong growth of 48 per cent year-on-year (y-o-y) in deposits and 18 per cent y-o-y in loans across these states,” they said.
They also said Alliance Bank will continue reinforcing its core business segments in these geographies, with Johor being added as one of the key focus areas in FY2025.
“Our regional expansion plans have been progressing successfully with the opening of new branches in Saradise, Kuching and soon at Jalan Kelawai, Penang,” they said.
They said the bank will in FY2025 continue to outfit and energise its branch network with the bank’s refreshed brand outlook to fortify the Alliance Bank’s positioning.
-- BERNAMA
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