KUALA LUMPUR: Alliance Bank Malaysia Bhd, one of the smallest banks in the country, is optimistic that it will perform better in its financial year ending March 31, 2020 (FY20) despite recording a slight year-on-year dip in its net profit for the recently-concluded quarter.

For the fourth quarter ended March 31, Alliance reported a lower net profit of RM111.8mil compared with a net profit of RM112.9mil earlier, while revenue was flat at RM403.4mil against RM403.5mil earlier.

“We are optimistic about this year (FY20),” CEO Joel Kornreich told a press conference here yesterday.

Kornreich said he was targeting a “double-digit” growth in FY20, which should be buoyed by all the bank’s initiatives including new products and services.

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