AmBank Group chief executive officer Datuk Sulaiman Mohd Tahir said he was satisfied with the group’s performance with underlying net profit growing 6.5% year-on-year despite the Covid-19 pandemic and the resulting Movement Control Order (MCO).
KUALA LUMPUR: AMMB Holdings
posted underlying net profit of RM416.7mil, up by 6.5%, in the first quarter ended June 30,2020 after adjusting for net modification loss and pre-emptive macro provision.
It said on Wednesday total income increased by 2.6% to RM1.09bil, underpinned by higher trading and investment income, partially offset by margin compression and net modification loss of RM57.5mil. “Excluding the net modification loss, underlying income increased 8.0%, ” it said.
