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RETAIL BANKING | Cesar Tordesillas, Malaysia
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AMMB's Pre-Tax Profit Jumps To RM2.082 Billion

AMMB Holdings pre-tax profit for the financial year ended March 31 surged to RM2.082 billion from the RM1.865 billion posted the previous year.

 

Revenue increased to RM7.999 billion from RM7.111 billion for the period reviewed.

AMMB's profit after tax and minority interest achieved 12.5 per cent growth to RM1.51 billion, driven by faster non-interest income growth.

This translated to a 14.1 per cent return on equity and 50.5 sen earnings per share, the group said.

The Board has recommended a final dividend of 13.5 sen.

AMMB said its gross loans, including Islamic financing sold to Cagamas, rose 5.7 per cent to RM77.7 billion supported by business and corporate loans growth.

Business loans grew 14.9 per cent to RM15.8 billion from a diversified asset base, while corporate and institutional loans expanded 13.5 per cent to RM14.6 billion in line with the growing share-of-wallet in key segments.

It said the group's loans portfolio now reflected a greater mix of non-retail, Islamic and variable rate loans.

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