Firmer start for AmBank Group with 1Q net profit at RM386m

AmBank Group chief executive officer, Datuk Sulaiman Mohd Tahir said Malaysia’s road to economic recovery continues to be bumpy with the recent resurgence in Covid-19 infections and the reimposition of movement restrictions impacting many businesses.

KUALA LUMPUR: AmBank Group started its new financial year with net profit of RM386.60mil, an increase of 5.9% from the RM365.16mil a year ago amid a bumpy road in the country’s economic recovery due to the Covid-19 pandemic.

It said on Monday its revenue was lower at RM2.09bil in the first quarter ended June 30, down by 5.3% from RM2.21bil a year ago. Earnings per share were 11.86 sen compared with 12.14 sen.