AmBank FY23 results a ‘positive surprise’

RHB Research is keeping its FY24-FY25 forecast profit after tax and minority interests largely unchanged.

PETALING JAYA: AMMB Holdings Bhd (AmBank) wrapped up its financial year ended March 31, 2023 (FY23) on a decent note with a net profit of RM1.74bil and a final dividend of 12.3 sen, which was a positive surprise, according to analysts.

A quick poll of reports yesterday showed that research firms had a “buy” call on the banking group, given its inexpensive valuation and positive earnings momentum.