PETALING JAYA: Alliance Bank Malaysia Bhd
(ABMB) is expected to post a 37.3% year-on-year jump in its net profit for the fourth quarter ended March 31, 2024 (4Q24) to RM179mil, bringing its full FY24 earnings to a marginal 2% increase to RM691mil.
According to AmInvestment Bank Research (AmBank Research), the banking group, which is scheduled to announce its FY24 results on May 30, will likely declare a second dividend of 11.5 sen per share. This brings total dividends to 22.3 sen per share or a payout of 50% in FY24.
“We are positive on ABMB, premised on its net interest margin (NIM), which is well above 2% and current account-savings account ratio of 45.1%, one of the highest in the industry,” the research house said.
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