AMMB aims to sell RM554mil worth of NPLs

CIMB Research said AMMB would start to realise cost savings of RM80mil per annum from its mutual separation scheme from FY19F onwards.

PETALING JAYA: AMMB Holdings Bhd has proposed to dispose of RM553.91mil worth of non-performing loans (NPLs) of AmBank (M) Bhd and AmBank Islamic Bhd to Aiqon special-purpose vehicles (SPVs).

AMMB said the proposed disposal was part of the debt recovery strategy of AmBank and AmBank Islamic to strengthen their respective loan/financing management, resolution processes and monetise the portfolio.