Alliance Bank says in the midst of transformation, streamlining initiatives

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KUALA LUMPUR (July 15): Alliance Bank Malaysia Bhd says it is constantly exploring strategic options to maximise shareholder returns.

It was responding to an article entitled “Alliance Bank to undergo streamlining?” by The Star on Saturday (July 13), which had quoted sources as saying the bank had approached advisers to commence the process of selling its majority interest in Alliance Investment Bank Bhd (AIBB).

“Alliance Bank informs that as part of its ordinary course of business, it constantly explores strategic options to maximise shareholder returns.

“The bank remains focused on accelerating the momentum of its core business in the consumer, and small- and medium enterprise segments. It is also undertaking transformation initiatives centred around new digital propositions and ecosystem partnerships,” the bank said in a statement today.

Alliance Bank added that it continues to streamline and modernise its processes to enhance customer experience.

Alliance Bank shares closed up 2 sen or 0.54% at RM3.74 today, giving it a market capitalisation of RM5.79 billion.