【ABMB 2488 交流专区】（前名 AFG）

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安联银行
转型初见成果

2018年2月28日

分析:MIDF投资研究
目标价：4.69令吉

最新进展：

截至12月31日，安联银行（ABMB，2488，主板金融股）第三季净利按年下跌5.5%，净赚1亿2255万令吉，上财年同季则达1亿2968万令吉。

营业额却从3亿7864万令吉，增加2.47%，达3亿8800万令吉。

合计首九个月，净利按年下跌3.64%，达3亿8036万令吉。

营业额则上升6.02%，达11亿6849万令吉。

行家建议：

公司首九个月净利符合我们预期，达到全年预测的70.7%，但却达到市场全年预测的77%。

因业绩符合预期，我们维持今明两财年的财测。

虽然转型计划让成本走高，但我们认为公司的努力已开始见效，这一点可从收入增长中显而易见。

因此，我们认为转型的成效将会是2019财年净利增长的关键推动力。

另外，在研究过安联银行的贷款组合后，该公司将会是国行升息的最大得益者。

继续建议“买入”，维持4.69令吉目标价。



【e南洋】



转型开始奏效．升息受惠．安联银行展望乐观

（吉隆坡27日讯）安联银行（ABMB，2488，主板金融组）转型计划开始奏效，也是升息主要受惠公司，分析员普遍乐观看待该公司业务展望。

受转型开销影响，安联银行第三季净利按年下跌6%至1亿2300万令吉，9个月净利也按年减少4%至3亿8000万令吉，达到市场全年预测的77%。

9个月来看，安联银行的高风险调整回酬类贷款（中小企业贷款、无担保消费贷款和Alliance One户头）增长12.4%，低风险调整回酬类贷款（房贷、企业贷款和车贷）下跌6.6%，因此总贷款成长持平。

安联银行2017年4月推介的Alliance One户头获得市场不俗反应，至今获批销售从第二季的5亿8000万令吉大幅提高到15亿令吉。

转型计划年省600万

马银行研究表示，2018财政年投资开发新产品和重组造成成本增加，相信2019财政年可以开始收成。在国家银行升息后，安联银行的净利息赚幅将跟着提高。

艾芬黄氏研究指出，安联银行的转型计划预期每年可节省600万令吉开销，并获得900万令吉的协同营收。

肯纳格研究认为，管理层看好2019财政年净利息赚幅将提高5基点、贷款成本可降至低于30基点，惟该行并不看好第二个目标。

不过，整体而言，肯纳格看好贷款成长和净利息赚幅提高，足以抵销大马会计准则9（MFRS9）落实推高的贷款成本。

丰隆研究指出，安联银行的贷款成长迟滞，无阻该公司专注加强高风险调整回酬类贷款的策略，而且升息也会推高该公司的净利息赚幅，决定调高2019财政年贷款成长预测，从5%升至6%。

达证券表示，贷款等拨备改善，促使该行调低2018财政年贷款成本预测，从34基点降至24基点，2019和2020财政年则保持38基点和28基点。

联昌研究认为，虽然安联银行可从升息趋势中受益，但鉴于12月贷款萎缩0.5%，表现不算理想，因此继续保守看待该公司业务展望。



文章来源：
星洲日报‧财经‧报道：王宝钦‧2018.02.27

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Type	Announcement
Subject	OTHERS
Description	Settlement Agreement
With reference to the recent press reports, Alliance Bank Malaysia Berhad  wishes to announce that all parties to the Civil Suit have reached an amicable settlement in respect of the matter. We are pleased to inform that this accordingly brings the matter to an end. There is no financial or operational impact arising from the settlement. This announcement is dated 19 April 2018.

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Type	Announcement
Subject	OTHERS
Description	Settlement Agreement
With reference to the recent press reports, Alliance Bank Malaysia Berhad  wishes to announce that all parties to the Civil Suit have reached an amicable settlement in respect of the matter. We are pleased to inform that this accordingly brings the matter to an end. There is no financial or operational impact arising from the settlement. This announcement is dated 19 April 2018.

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SUMMARY OF KEY FINANCIAL INFORMATION 31 Mar 2018

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31 Mar 2018	31 Mar 2017	31 Mar 2018	31 Mar 2017
		$$'000	$$'000	$$'000	$$'000

1	Revenue	403,530	367,250	1,572,023	1,469,423
2	Profit/(loss) before tax	153,749	158,516	684,597	681,404
3	Profit/(loss) for the period	112,871	117,388	493,228	512,123
4	Profit/(loss) attributable to ordinary equity holders of the parent	112,871	117,388	493,228	512,123
5	Basic earnings/(loss) per share (Subunit)	7.30	7.70	31.90	33.50
6	Proposed/Declared dividend per share (Subunit)	6.80	7.50	15.30	16.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	3.5300		3.3000

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EX-date	18 Jun 2018
Entitlement date	20 Jun 2018
Entitlement time	05:00 PM
Entitlement subject	Second interim dividend
Entitlement description	Second interim single tier dividend of 6.8 sen per share
Period of interest payment	to
Financial Year End	31 Mar 2018
Share transfer book & register of members will be	to   closed from (both dates inclusive) for the purpose of determining the entitlement
Registrar or Service Provider name, address, telephone no	SHAREWORKS SDN BHDNo. 2-1, Jalan Sri Hartamas 8Sri Hartamas50480 Kuala LumpurTel: 03 - 62011120Fax: 03 - 62013121
Payment date	28 Jun 2018
a.Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers	20 Jun 2018
b.Securities deposited into the Depositor's Securities Account before 12:30 pm in respect of securities exempted from mandatory deposit
c. Securities bought on the Exchange on a cum entitlement basis according to the Rules of the Exchange.
Number of new shares/securities issued (units) (If applicable)
Entitlement indicator	Currency
Currency	Malaysian Ringgit (MYR)
Entitlement in Currency	0.068

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SUMMARY OF KEY FINANCIAL INFORMATION 30 Jun 2018

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30 Jun 2018	30 Jun 2017	30 Jun 2018	30 Jun 2017
		$$'000	$$'000	$$'000	$$'000

1	Revenue	401,072	386,613	401,072	386,613
2	Profit/(loss) before tax	181,060	179,995	181,060	179,995
3	Profit/(loss) for the period	136,367	135,004	136,367	135,004
4	Profit/(loss) attributable to ordinary equity holders of the parent	136,367	135,004	136,367	135,004
5	Basic earnings/(loss) per share (Subunit)	8.80	8.80	8.80	8.80
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	3.4800		3.5300

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次季赚1.4亿-安联银行派息8.5仙
http://www.enanyang.my/news/20181129/次季赚1-4亿-安联银行派息8-5仙/

SUMMARY OF KEY FINANCIAL INFORMATION 30 Sep 2018

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30 Sep 2018	30 Sep 2017	30 Sep 2018	30 Sep 2017
		$$'000	$$'000	$$'000	$$'000

1	Revenue	399,186	393,876	800,258	780,489
2	Profit/(loss) before tax	186,808	170,179	367,868	350,174
3	Profit/(loss) for the period	140,522	122,799	276,889	257,803
4	Profit/(loss) attributable to ordinary equity holders of the parent	140,522	122,799	276,889	257,803
5	Basic earnings/(loss) per share (Subunit)	9.10	8.00	17.90	16.80
6	Proposed/Declared dividend per share (Subunit)	8.50	8.50	8.50	8.50
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	3.5900		3.5300

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EX-date	14 Dec 2018
Entitlement date	18 Dec 2018
Entitlement time	05:00 PM
Entitlement subject	First Interim Dividend
Entitlement description	First interim single tier dividend of 8.50 sen per share
Period of interest payment	to
Financial Year End	31 Mar 2019
Share transfer book & register of members will be	to   closed from (both dates inclusive) for the purpose of determining the entitlement
Registrar or Service Provider name, address, telephone no	SHAREWORKS SDN BHDNo. 2-1, Jalan Sri Hartamas 8Sri Hartamas50480 Kuala LumpurTel:0362011120Fax:0362013121
Payment date	28 Dec 2018
a.Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers	18 Dec 2018
b.Securities deposited into the Depositor's Securities Account before 12:30 pm in respect of securities exempted from mandatory deposit
c. Securities bought on the Exchange on a cum entitlement basis according to the Rules of the Exchange.
Number of new shares/securities issued (units) (If applicable)
Entitlement indicator	Currency
Currency	Malaysian Ringgit (MYR)
Entitlement in Currency	0.085

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SUMMARY OF KEY FINANCIAL INFORMATION 31 Dec 2018

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31 Dec 2018	31 Dec 2017	31 Dec 2018	31 Dec 2017
		$$'000	$$'000	$$'000	$$'000

1	Revenue	418,401	388,004	1,218,659	1,168,493
2	Profit/(loss) before tax	189,236	180,674	557,104	530,848
3	Profit/(loss) for the period	148,932	122,554	425,821	380,357
4	Profit/(loss) attributable to ordinary equity holders of the parent	148,932	122,554	425,821	380,357
5	Basic earnings/(loss) per share (Subunit)	9.60	8.00	27.50	24.70
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	8.50	8.50
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	3.6000		3.5300

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Type	Announcement
Subject	OTHERS
Description	(i)        Bancassurance Partnership between Alliance Bank Malaysia Berhad and Zurich General Insurance Malaysia Berhad; and (ii)        Bancatakaful Partnership between Alliance Islamic Bank Berhad and Zurich General Takaful Malaysia Berhad
Alliance Bank Malaysia Berhad (“the Bank”) is pleased to announce that the Bank and its wholly-owned subsidiary, Alliance Islamic Bank Berhad have entered into Distribution Agreements with Zurich General Insurance Malaysia Berhad and Zurich General Takaful Malaysia Berhad respectively, to establish general bancassurance and bancatakaful partnerships in Malaysia today (“Banca Partnerships”). Please refer to the attached Press Release for further information on the Banca Partnerships. This announcement is dated 22 April 2019.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/6132397

Attachments Press Release.pdf

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SUMMARY OF KEY FINANCIAL INFORMATION 31 Mar 2019

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31 Mar 2019	31 Mar 2018	31 Mar 2019	31 Mar 2018
		$$'000	$$'000	$$'000	$$'000

1	Revenue	403,442	403,530	1,622,101	1,572,023
2	Profit/(loss) before tax	150,919	153,749	708,023	684,597
3	Profit/(loss) for the period	111,776	112,871	537,597	493,228
4	Profit/(loss) attributable to ordinary equity holders of the parent	111,776	112,871	537,597	493,228
5	Basic earnings/(loss) per share (Subunit)	7.20	7.30	34.70	31.90
6	Proposed/Declared dividend per share (Subunit)	8.20	6.80	16.70	15.30
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	3.7000		3.5300