Alliance's revenue up in Q1

Alliance Financial Group 's revenue for the first quarter ended June 30, 2012 rose to RM319.34 million from RM307.07 million last year.

This was driven by an increase in net interest, Islamic income and higher non-interest income.

Furthermore, net interest income and non-interest income grew by four percent each to RM237 million and RM82.4 million respectively, for the first quarter ended June 30, 2012.

Group chief executive officer, Sng Seow Wah, said said the growth was driven mainly by the group's continued focus on expanding treasury sales, transaction banking and wealth management, as well as gains from the realisation of investments.

"The group's non-interest income ratio has improved further to 27.3 per cent from 26.6 per cent a year ago," he said.

However, the group's pre-tax profit for the first quarter fell to RM166.37 million from RM174.07 million in the same period last year.

For more.

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