Stronger earnings growth for AmBank in 3Q and 9 months

AmBank Group chief executive officer Datuk Sulaiman Mohd Tahir said the banking group managed to once again outpace the macroeconomic and geopolitical headwinds plaguing the sector with a RM1.09 bill profit in the nine months ended Dec 31,2019.

KUALA LUMPUR: AmBank Bhd posted stronger earnings of RM382.15mil in the third quarter and RM1.09bil in the nine months ended Dec 31,2019, underpinned by stronger net interest income (NII) and non-interest income.

It said on Thursday its 3Q income increased by 16.6% compared to a year ago, boosted by better lending growth and stronger trading and investment income. Its revenue rose by 2.9% to RM2.37bil from RM2.30bil.