Tougher challenges seen for next AMMB chief

THE new head honcho of AMMB Holdings Bhd (AmBank Group) who will be replacing the current group managing director (MD) Ashok Ramamurthy (pic) will have a more challeging task, given the tough times the banking industry is bracing itself for.

As pointed out by AllianceDBS Research, AmBank has provided the most cautious guidance against its banking peers. “AmBank’s guided loan growth is at 3%, as it continues to pull back on risky segments like auto and mortgage loans, while deposit growth is expected to match closely.” In comparison, analysts are forecasting a loan momentum growth of between 9% and 10% in 2015.