AmBank Group’s 3Q net profit falls to RM486.49m

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Malay Mail Logo Malay Mail 2d ago

AmBank Group’s 3Q net profit falls to RM486.49m - Malay Mail

Quick Summary:

KUALA LUMPUR, Feb 20 — AMMB Holdings Bhd (AmBank Group) posted a lower net profit of RM486.49 million for the third quar...

Chief executive officer Jamie Ling said AmBank Group delivered another strong quarter of earnings, with encouraging year-to-date results.“We delivered strong loan growth, especially in business banking, while moderating retail banking growth to de-risk and redeploy our capital resources more profitably in line with our Winning Together (WT29) strategy.“Our liquidity remains ample, and our capital levels are strong,” he said, adding that the bank continues to focus on strategic priorities and is executing well in its first year of the WT29 strategy.

This was partially offset by higher fee income from business banking, wealth management and investment banking.