Alliance Financial Group Bhd (2488) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Alliance Financial Group Bhd stock MYR 4.45, price MYR 4.68, that is 4.9% below the price, quality 47 out of 100. Rating: fairly valued. Calculated from audited financials with 6 of our 26 valuation models and 37 quality factors, updated daily.
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Alliance Financial Group Bhd
2488 · KLSEThe stock costs about what our calculation considers fair.
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69 individual criteria per stock, every one traceable See the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 6, 2026.
How to read this chart
60‑month range 1.74 MYR – 5.42 MYR · fair‑value band 4.17 MYR – 5.02 MYR · the 4.68 MYR price screens above the 4.45 MYR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 6, 2026.
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Company profile
Alliance Bank Malaysia Berhad provides banking and related financial services in Malaysia. The company operates through Consumer Banking, Business Banking, Financial Markets, and Others segments. It accepts savings, current, fixed/term deposit, foreign currency, employee, and business accounts.
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The company also offers personal loans, mortgages, and margin and portfolio financing services; business loans, such as equipment, general working capital, business premises, bridging, trade, and palm oil plantation financing, as well as SME express loans; and government assistance schemes.
In addition, it provides credit and debit cards; unit trust, dual currency, retail securities, and structured investment products, as well as retail bonds; share trading accounts and services; share and portfolio financing accounts; bancassurance products; and life, general, commercial, and family takaful insurance products.
Further, the company offers corporate advisory services, such as initial public offering, equity and debt fund raising, mergers, takeovers and acquisitions, corporate rationalization and restructuring, independent advice, transfer of listing, and other services; commercial papers and medium-term notes; and equity syndication services.
Additionally, it provides Islamic banking; term loans, hire purchase facilities, and wealth management services; cash management services; treasury and structured solutions; foreign exchange, money market, and hedging and investment solutions; trustee services; stockbroking and corporate advisory services; and online and mobile banking services.
The company was incorporated in 1982 and is based in Kuala Lumpur, Malaysia.
Stock analysis
Alliance Financial Group Bhd (2488) currently trades at 4.68 MYR, while our model-based Fair Value estimate is 4.45 MYR, so the stock looks roughly fairly valued today (gap 5.2%).
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Valuation
Bull case: the Multiples group reads highest at a median of 6.37 MYR per share, and 2 of the 6 models we run sit above the 4.68 MYR price.
Bear case: the Dividend Discount group reads lowest at 2.39 MYR, and 4 of the 6 models stay below the price. Data coverage for this calculation is medium.
Scenario range: 4.17 MYR (bear) to 5.02 MYR (bull), the price of 4.68 MYR sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 47/100 (below-average quality), in the Financial Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Alliance Financial Group Bhd reported revenue of 4.2B MYR in FY2026 versus 2.4B MYR in FY2022, a compound +14.5%/yr. Reported net income was 827M MYR in FY2026, compounding +9.6%/yr from FY2022.
Key figures
Market cap 7.9B MYR (≈ $1.9B) Small · P/E ratio 0.4 · P/S ratio 0.07 · EPS (TTM) 12.78 MYR · Dividend yield 4.1% · Net margin 19.8% · Return on equity 10.5% · Return on assets (EBIT) 1.2% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 68 out of 100 (low confidence).
What moves the price
The share trades about 14% below its 52-week high and 11% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −28% fair-value upside, at −5%, 2488 screens cheaper than that median.
Fair Value models
All 6 models by family
Quality Score breakdown
It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.
Revenue & earnings trend
Watch 2488, get fair value alerts →
Compare Alliance Financial Group Bhd with another stock
Price, fair value, quality and upside side by side.
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Banks - Regional · 996 stocks
Valuation Multiplesvs Banks - Regional median · lower = cheaper
Strength profile in five axes (Snowflake)
HEALTH: for banks, insurers and similar financial firms borrowed money is part of the business, so we do not rate debt here.
Context: sector, industry, market
- Is the Financials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Net margin by industry
- P/B ratio by industry
- PEG screener for stocks with fair value
- Valuation of the Malaysia market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Banks - Regional stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value | Compare |
|---|---|---|---|---|
| Postal Savings Bank of China Co 601658 | ¥5.53 | ¥7.59 | +37% | vs 2488 |
| China Merchants Bank Co 600036 | ¥42.88 | ¥52.73 | +23% | vs 2488 |
| BNP Paribas SA BNP | €91.93 | €106.01 | +15% | vs 2488 |
| Intesa Sanpaolo S.p.A ISP | €6.18 | €4.49 | −27% | vs 2488 |
| State Bank of India SBIN | ₹1,019 | ₹736.65 | −28% | vs 2488 |
| UniCredit S.p.A UCG | €76.80 | €50.44 | −34% | vs 2488 |
| Mizuho Financial Group MFG | $9.40 | $5.89 | −37% | vs 2488 |
| DBS Group D05 | 69.72 SGD | 40.39 SGD | −42% | vs 2488 |
| HDFC Bank Limited HDFCBANK | ₹788.25 | ₹406.39 | −48% | vs 2488 |
| ICICI Bank Limited ICICIBANK | ₹1,571 | ₹615.63 | −61% | vs 2488 |
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Key figures of Alliance Financial Group Bhd
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