AmBank Group Reports Net Profit of RM659.7 million for H1FY18

AmBank Group Reports Net Profit of RM659.7 million for H1FY18

November 28, 2017 0 By WFTV

AmBank Group second-quarter net profit slipped 6% year-on-year (y-o-y) on higher interest expense
and other operating expenses, said the bank today in a media release.

Datuk Sulaiman Mohd Tahir (Dato’ Sulaiman), AmBank Group Chief Executive Officer said the group's 
modest 2.3% year-on-year (Y-o-Y) improvement in total income of RM1,949.1 million for the half year 
ended 30 September 2017 was encouraging.

"Our topline growth momentum was sustained in Transaction Banking, Business & SME
Banking and Retail Banking whilst markets based revenue was affected by the volatility in the market.

“The Group recorded an encouraging 9.9% growth YoY in NII supported by interest income from customer
lending and fixed income securities. Interest income from customer lending continued to benefit from the
robust growth in our targeted segments namely mortgages and the small and medium-sized enterprises
(SME) segments. Interest income from securities grew mainly from trading securities and investment in
unrated corporate bonds and sukuk,” he said.

Datuk Sulaiman said the bank's loans and financing base grew 2.2% year-to-date (YTD) since 31 March 
2017 to RM93.0 billion underpinned by an increase of RM2,187.7 million (+10.0% YTD) in mortgage 
loans and RM1.1 billion (+7.6% YTD) in SME loans.

"As a result of our targeted card usage programmes, our cards receivables contributed RM80.7 million 
to our loans base, marking an encouraging YTD growth of 4.8%.  As a testament to the effectiveness of 
our cards strategy and our strong drive to provide excellent value to our cardholders.

"We have been recognised by the industry at the regional level for our BonusLink Visa Card programme. 
We were honoured as the “Best Co-Branded Credit Card” and “Best Travel Reward Credit Card” at the 
CMO Asia Smart Card and e-Payment Awards 2017 in Singapore recently. The Awards were in recognition 
of customer service as well as excellence and innovation in the Asian card and
payments industry.”