KUALA LUMPUR, Feb 21 (Bernama) — AMMB Holdings Berhad (AmBank Group or the Group) today announced the financial results for the nine months ended 31 December 2018 (9MFY19).
Summary of 9MFY19 Results1
• Income grew 2.0% to RM2,967.8 million underpinned by a 5.9% increase in net interest income (NII). Net interest margin (NIM) at 1.93%
• Expenses reduced by 9.5% to RM1,530.9 million, driven by business efficiency initiatives. Cost-to-income (CTI) ratio improved to 51.6% from 58.2% a year ago
• Profit before provision (PBP) increased by 18.2% to RM1,436.9 million
• Net recovery of RM33.4 million (9MFY18: net impairment charge of RM32.9 million)
• Consequently, net profit after tax and minority interests (PATMI) grew 19.0% to RM1,045.6 million
• Return on equity (ROE) improved to 8.2%2 (FY18: 7.0%), with return on assets (ROA) of 0.95%2 (FY18: 0.83%) and basic earnings per share (EPS) of 34.75 sen (9MFY18: 29.22 sen)
• Gross loans and financing grew 4.2% YTD to RM100.4 billion. Customer deposits of RM106.8 billion, up 11.4% YTD
• Lower gross impaired loans (GIL) ratio of 1.62% (FY18: 1.70%), loan loss cover3(LLC) ratio higher at 116.8% (FY18: 100.5%)
• Financial Holding Company (FHC) Common Equity Tier 1 (CET1) capital ratio of 12.0% (FY18: 11.1%), FHC Total Capital ratio of 15.7% (FY18: 13.6%)
