What was the growth rate for SME loans at Alliance Bank?

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SME Loans at Alliance Bank Saw a 12.4 Per Cent Year-on-Year Growth

Alliance Bank experienced a significant increase in its Small and Medium Enterprise (SME) loan portfolio, with a growth rate of 12.4 per cent compared to the previous year. This expansion in SME lending outperformed the industry average, indicating a strong performance in this segment for the bank.
Growth in SME Lending Outpaced Industry

The bank's SME loans grew by 12.4 per cent year-on-year. This rate of expansion was noted to be twice as fast as the overall industry's growth in SME lending, highlighting Alliance Bank's competitive edge in serving this crucial sector.
Overall Loan Growth and Other Segments

In the financial year ended March 31, 2022 (FY2022), Alliance Bank's total loans grew by 4.6 per cent year-on-year. Alongside the robust SME segment, corporate and commercial loans also saw an increase of 9.5 per cent year-on-year, driven by higher loan utilisation.
Financial Performance Drivers

This growth in lending contributed to Alliance Bank's overall financial performance. The bank reported a net profit jump to RM572.82 million for FY2022, up from RM358.78 million in the preceding year. This substantial increase was attributed to higher net interest income, which improved by 8.8 per cent year-on-year to RM1.48 billion, and a reduction in allowances for expected credit losses.

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What was the growth rate for SME loans at Alliance Bank?

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