Reporting weaknesses the reason for RM53.7mil penalty on AmBank Group

AmBank says Bank Negara has not placed any restrictions on the business operations of the group.

KUALA LUMPUR: AMMB Holdings Bhd (AmBank Group) said the RM53.7mil penalty imposed by Bank Negara on the group is due to weaknesses in its reporting systems and processes in place at the time as well as the inadequate skills of some of its staff.