AmBank posts net profit of RM1.34b in FY end March 31

AmBank group CEO Datuk Sulaiman Mohd Tahir said: “In fact, our underlying PATMI of RM1.46bil was up 15.4% year on year, after normalising the one-off gain and the additional macro provision that was set aside as additional prudence.”

KUALA LUMPUR: AMMB Holdings Bhd posted net profit of RM1.34bil for FY ended March 31,2020, down by 10.9% from RM1.50bil a year ago due to a net impairment charge after taking pre-emptive macro provision in the final quarter due to the Covid-19 pandemic.

However, its underlying net profit rose by 15.4%, adjusted for the gain on retail debt sales of RM285mil in FY19 and the macro provision of RM167.30mil in FY20.