Group CEO Datuk Sulaiman Mohd Tahir (pic) has cautioned that the group’s earnings in the ongoing Q4 and the full-year FY21 will face a “material impact” as a result of the global settlement to be paid to the Finance Ministry.
PETALING JAYA: AMMB Holdings Bhd
(AmBank Group), which has agreed to a massive RM2.83bil global settlement over its involvement in the 1Malaysia Development Bhd (1MDB) scandal, reported a 31% year-on-year (y-o-y) drop in net profit for the third quarter (Q3) ended Dec 31,2020.
The banking group told Bursa Malaysia that its net profit for the October-December 2020 period fell to RM263.83mil as compared to RM382.15mil a year earlier, dragged down by lower revenue and a net impairment on loans, advances and financing worth 262.12mil.
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