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KUALA LUMPUR: AMMB Holdings Bhd posted lower net profit of RM263.82mil in the third quarter ended Dec 31,2020 and RM866.31mil in the nine-month period due to allowance for impairments on loans, advances and financing.
KUALA LUMPUR: CIMB Group Holdings Bhd reported a steep drop in its annual profits on higher loan loss provisions due to the pandemic, but the bank expects its financial performance to improve in 2021 in line with the economy.
KUALA LUMPUR: RHB Bank recorded an 18.1% decline in net profit to RM2.03bil in the financial year ended Dec 31, 2020, as compared to RM2.48bil in the previous year due to the net modification loss arising from the loan moratorium and higher expected credit losses.
Pressure on asset quality calls for caution
KUALA LUMPUR: Loan moratoriums and restructuring pose critical risks to the banking systems in Asean including Malaysia and need to be watched going forward, according to Maybank Kim Eng Research.
PETALING JAYA: The banking industry remains on firm footing, with most analysts reiterating a positive outlook for the sector despite a deceleration of loan growth in December.
ZURICH: UBS Group AG will bolster shareholder returns with plans to buy back four billion francs (US$4.5bil) of shares over the next three years after rising fee income and investment bank revenue propelled gains at the world’s largest wealth manager.