Published: Tuesday November 20, 2012 MYT 6:50:00 PM
Malaysia's Alliance Financial Group Q2 earnings up 14.2% to RM141.9m
KUALA LUMPUR: Alliance Financial Group Bhd (AFG) earnings rose 14.2% to RM141.94mil in the second quarter ended Sept 30, 2012 from RM124.21mil a year ago, underpinned by growth in interest income and recurring non-interest income.
It said on Tuesday revenue increased by 8.2% to RM338.97mil from RM313.17mil. Earnings per share were 9.30 sen compared with 8.10 sen.
The group reported the Q2 earnings were an increase of 13.9% over the first quarter.
In the first half ended Sept 30, 2012, its earnings increased by 4.8% to RM266.48mil from RM253.98mil in the previous corresponding period. Its revenue increased by 6.1% to RM658.32mil from RM620.23mil.
"The improved performance compared to the corresponding first half of FY2012 was attributed to the growth in interest income as well as recurring non-interest income," he said.
Sng said in the 1H, net interest income rose by 4.5% to RM489mil, despite interest margins remaining under pressure and the increased competition in the industry.
"The group's non-interest income ratio has improved further to 27.2% from 25.6% a year ago. Non-interest income had registered a stronger growth of RM17.0mil or 11.2% to RM169.3mil, driven mainly from the group's continued focus on expanding its treasury sales, transaction banking and wealth management services," he said.