AmBank’s MSS to bring about savings of RM80mil a year

For the nine months ended Dec 31, 2013, its earnings rose 9% to RM1.329bil from RM1.219bil in the previous corresponding period. Its revenue rose 13.4% to RM7.215bil from RM6.358bil.

PETALING JAYA: AMMB Holdings Bhd’s mutual separation scheme (MSS) exercise is expected to be bring about savings of around RM80mil per year from financial year ending March 31, 2019 (FY19) onwards.

MIDF Research in a report that despite operating expenditure increasing from the MSS, there would be savings later.