CARDS & PAYMENTS | Cesar Tordesillas, Malaysia

AMMB targets up to 12% net profit

AMMB Holdings is targeting an annual net profit of between nine and 12 percent for the next three years.


The group's profit after tax and minority interest for the financial year 2012, which increased 12.5 per cent to RM1.51 billion.

"This is our 20th consecutive quarter of profit growth, supported by diversified income streams," said Group Managing Director Ashok Ramamurthy.

The group will focus on accelerating growth and business mix changes, while strengthening customer centricity and connectivity to reach its target growth.

Ashok said although the stated target was quite challenging, amid the slow growth in the global economy, the  bank believed it can do better.

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