KUALA LUMPUR, Aug 17 ― AMMB Holdings Bhd's (AmBank Group) net profit rose 8.4 per cent to RM419.20 million in the first quarter ended June 30, 2022 (Q1) from RM386.60 million registered in the same period a year ago.
Revenue for the quarter under review decreased to RM1.16 billion from RM1.24 billion previously.
AmBank Group chief executive officer Datuk Sulaiman Mohd Tahir said the group commenced the new financial year with a solid performance amid a challenging macro and geopolitical environment, “I am particularly pleased with our performance in wholesale banking, retail banking, business banking, and Islamic banking, which reflects our continued strong fundamentals amid volatility,” he said in a statement today.
Gross loans grew by RM132.8 million in Q1 with a visible corporate loans pipeline in Q2, primarily contributed by growth in mortgages and business banking by RM478.2 million and RM316.9 million, respectively, respectively offset by the reduction in wholesale banking by RM848.8 million.
Deposits from customers stood at RM121.4 billion.
“Time deposits increased 3.0 per cent year-to-date whilst current account saving account (CASA) balances fell 8.2 per cent to RM39.6 billion.
“Consequently, CASA mix was lower at 32.6 per cent. The Group remains highly liquid, with a liquidity coverage ratio of 153.0 per cent as at June 30, 2022,” he added. ― Bernama
