AmBank Records RM1.09 Billion Profit For The Nine-Month Period Ended 31 December 2019 Q3 Profit Up By 9% To RM382.1m Driven By Income Growth Of 16.6%

KUALA LUMPUR, Feb 27 (Bernama) — Dato’ Sulaiman Mohd Tahir (Dato’ Sulaiman), AmBank Group Chief Executive Officer said, “AmBank Group is pleased to once again outpace the macroeconomic and geopolitical headwinds plaguing the sector with a RM1.09 billion profit for the first nine months of our 2020 financial year. Indeed, we stepped up our revenue growth momentum to record a robust 9.1% growth year-on-year in total income as a result of net interest income growth, strong trading gains and investment income as well as higher investment banking fee income. Testament to our strict cost discipline, we were able to make notable progress in cost efficiency, achieving a CTI of 49.6% compared with 54.3% in FY19. As a result, we delivered strong profit before provision growth of 13.5%.”

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