AMMB Holdings Bhd gains higher net profit

KUALA LUMPUR: AMMB Holdings Bhd's net profit for the fourth quarter ended March 31, 2011 rose 30.8% to RM316.35mil from RM241.75mil a year ago due mainly to increase in income reported from other operating income and net interest income of RM47.1mil and RM38.2mil respectively. It told Bursa Malaysia on Wednesday that in addition, lower allowances for impairment on loans and financing of RM114.2mil and other operating expenses of RM396mil were reported for the current reporting quarter. Revenue for the period was RM1.8bil versus RM1.66bil last year while earnings per share were 10.54sen against 8.03sen. It proposed a final dividend of 12 sen per share. For the financial year ended March 31, 2011 net profit rose 33.1% to RM1.34bil from RM1.01bil a year ago on the back of revenue RM7.11bil.