Alliance Financial says it can hold its own against bigger banks

TheStar Thu, Jul 13, 2017 07:30am - 6 years View Original


General meeting: (from left) Kornreich, Alliance Financial Group Bhd chairman Datuk Oh Chong Peng and Alliance Bank Malaysia Bhd group CFO Raymond Wong Lai Loong at AFG’s AGM and EGM.

General meeting: (from left) Kornreich, Alliance Financial Group Bhd chairman Datuk Oh Chong Peng and Alliance Bank Malaysia Bhd group CFO Raymond Wong Lai Loong at AFG’s AGM and EGM.

KUALA LUMPUR: Alliance Financial Group Bhd (AFG), the smallest financial institution in terms of asset size, has dismissed speculation that it is the subject of a merger.

The bank, which has seen some changes in shareholding, said it was financially sound and looking to lift its returns to shareholders.

“I would just like to say that small is beautiful. We are absolutely certain that we are a very sound and sustainable financial group. We believe that with the investments we are making, we would actually be able to lift our return on equity (RoE),” group chief executive officer Joel Kornreich said at a press conference after its AGM and EGM.

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