KUALA LUMPUR (Feb 21): ALLIANCE FINANCIAL GROUP BHD [] (AFG) posted net profit of RM121.29 million in the third quarter ended Dec 31, 2011, up 9% from the RM111.26 million, underpinned by growth in interest income due to the expansion in loans.
It said on Tuesday its revenue increased by 9.2% to RM311.43 million from RM284.98 million. Earnings per share were 7.90 sen compared with 7.30 sen.
AFG said for the nine months ended Dec 31, 2011, the earnings rose 14.6% to RM371.80 million from RM324.27 million while it recorded a 9% increase in revenue of RM935.80 million from RM858.18 million.
“For the nine months ended Dec 31, 2011, the group recorded profit before taxation of RM499.5 million, an increase of 13.8% compared to the corresponding period last year. The group registered a 11.0% growth in interest income due to the 11.5% expansion in loans,” said AFG.
Gross loan/financing registered year-on-year growth of 11.5%, driven mainly by the expansion in housing loans and SME lending.
Meanwhile, customers’ deposits grew 9.1% year-on-year with loan-to-deposit ratio at 78.9% as at December 2011, as compared with 77.2% a year ago.
AFG said as at Dec 31, 2011, the current and savings account (CASA) accounted for 35.6% of the group’s customer deposits.
It said on Tuesday its revenue increased by 9.2% to RM311.43 million from RM284.98 million. Earnings per share were 7.90 sen compared with 7.30 sen.
AFG said for the nine months ended Dec 31, 2011, the earnings rose 14.6% to RM371.80 million from RM324.27 million while it recorded a 9% increase in revenue of RM935.80 million from RM858.18 million.
“For the nine months ended Dec 31, 2011, the group recorded profit before taxation of RM499.5 million, an increase of 13.8% compared to the corresponding period last year. The group registered a 11.0% growth in interest income due to the 11.5% expansion in loans,” said AFG.
Gross loan/financing registered year-on-year growth of 11.5%, driven mainly by the expansion in housing loans and SME lending.
Meanwhile, customers’ deposits grew 9.1% year-on-year with loan-to-deposit ratio at 78.9% as at December 2011, as compared with 77.2% a year ago.
AFG said as at Dec 31, 2011, the current and savings account (CASA) accounted for 35.6% of the group’s customer deposits.
