ANZ exits AMMB after stake disposal

AmBank said ANZ, via its wholly-owned subsidiary ANZ Fund Pty Ltd, had disposed of its stake comprising 171.02 million shares.

PETALING JAYA: The Australia and New Zealand Banking Group Ltd (ANZ) has disposed of its 5.17% stake in AMMB Holdings Bhd (AmBank).

In a filing with the local bourse, AmBank said ANZ, via its wholly-owned subsidiary ANZ Fund Pty Ltd, had disposed of its stake comprising 171.02 million shares yesterday.

ANZ, which is Australia’s fourth largest bank, disposed of a 16.5% stake in AmBank for RM2.1bil in March, reducing its equity interest to 5.17%.

AmBank’s largest shareholder is currently the Employees Provident Fund, with a 14.33% stake.

For the financial year ended March 31, 2024 (FY24), AmBank posted a net profit of RM1.87bil as compared to RM1.71bil in FY23, while revenue came in at RM4.65bil, which was slightly lower than RM4.71bil in the previous corresponding year.