AmBank Q3 net profit retreats

PETALING JAYA: AMMB Holdings Bhd has recorded a 5.4% higher net income of RM2.91bil for the nine-month period ended Dec 31, 2017, underpinned by an increase in net interest income (NII) and a broadly stable net interest margin (NIM).

However, an increase in impairments and lower provisions resulted in an 11% lower net profit of RM878.72mil for the group in the same period on the back of a 3% growth in revenue to RM6.36bil.