KUALA LUMPUR: Alliance Bank Malaysia Bhd today unveiled its enhanced strategy plan, Acceler8, to drive the bank's growth over the next four years.
Group chief executive officer Kellee Kam said the strategic plan would target new market segments and business verticals, regional expansion, championing sustainability, as well as driving synergies and value creation through digital innovations and partnerships.
"We are building upon the successes the bank has achieved so far with the strategy focused on business owners, small and medium enterprises as well as the communities they operate in and this strategy was anchored in a challenger bank mindset with a community-centric approach," he said in a statement, today.
Kam said the bank would apply this same challenger mindset to the refreshed areas of focus under Acceler8, which are aligned to other high-growth areas in the market in order to drive the bank's next phase of growth.
"Acceler8 will guide the bank's growth through to the financial year 2027 and focus on providing fast, convenient and personalised solutions that are relevant to customers even as their needs grow and evolve.
"With this strategy, the bank aims to launch itself into the top quartile in the industry for return on equity, cost-to-income ratio below 45 per cent and loans growth above the industry average," he said.
Besides, Kam said that the bank would expand its consumer banking focus to target the emerging affluent customer segment, including over 2.1 million young professionals in Malaysia.
"We aim to broaden our consumer product offerings to serve the HENRY segment (High Earners Not Rich Yet) as well as high-net-worth individuals," he said, adding the bank is looking at supporting the needs of businesses and individuals at every stage of their lifecycle.
Furthermore, he said the bank would also be expanding its reach into other business verticals, such as the education, renewable energy and healthcare sectors, providing a comprehensive suite of offerings from thebank's business, corporate, Islamic and consumer banking functions.
The bank will also continue to champion environmental, social, and corporate governance adoption among the community to make a positive impact on society, the economy and the planet.
Another pillar of growth for the bank is its Islamic Banking business as Islamic finance continues to be the fastest-growing segment in our market.
In addition, he said the bank would continue building strategic partnerships to efficiently widen its product offering and distribution, creating more value for its customers.
– BERNAMA