AMMB net profit jumps to RM237.32m in Q3

ammb net profit jumps to rm237 32m in q3

Sumary of AMMB net profit jumps to RM237.32m in Q3:

  • AmBank group chief executive officer Datuk Sulaiman Mohd Tahir said AmBank Group was able to make good progress with profit before provision, growing 14 per cent to RM1.35 billion.
  • Sulaiman said the bank is clear about the importance of financial institutions joining the effort to support the government in easing the financial burden of those affected by the pandemic.
  • “From the ongoing Pemulih relief programme to the latest Financial Management and Resilience Program (URUS), AmBank will continue to assist our customers determine the financial assistance they require in a targeted and sustainable manner.
  • The group recorded a net impairment charge of RM377.1 million, which was lower compared to RM382.4 million a year ago, resulting from higher model-driven forward looking provisions taken, and offset by lower overlays.
  • As a proactive measure to bolster the group’s exposure to retail and small and medium enterprise customers, as well as the oil and gas sector, RM67.6 million of overlay was charged for the quarter under review.

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