Alliance Bank has officially surrendered its investment banking license back to Bank Negara in according to its announcement back in 2021.
The group had then announced that it will be disposing its Stockbroking Business by its wholly owned subsidiary Alliance Investment Bank Berhad AIBB.
With the surrender, the bank will be no longer having any interest in the business and will focus on its core.
Back in December 2021, the bank had also disposed its stockbroking business to stockbroking firm Phillip Futures Sdn Bhd, as part of the group’s strategic plan to re-prioritise its businesses to accelerate growth in its consumer, small- and medium-sized enterprise (SME) and Islamic banking businesses. Its subsidiary AIBB had then entered into a conditional business sale & purchase agreement with Phillip Futures Sdn Bhd for the sale of its stockbroking business.
