KUALA LUMPUR: AMMB Holdings Bhd recorded a net profit of RM403.29mil in the third quarter ended Dec 31, 2021, a 52.86% improvement from RM263.83mil in the same quarter in 2020.

       The group reported a marginally higher revenue of RM1.18bil over the same period.

       Over the nine months period to end-2021, AMMB posted a net profit of RM1.11bil on revenue RM3.54bil, which represented year-on-year (y-o-y) growth of 28.24% and 3.47% respectively.

       “As the economy continues to recover from Covid-19 related disruptions, the AmBank Group sustained its growth streak to deliver another resilient performance," said group CEO Datuk Sulaiman Mohd Tahir.

       He said the group's cost-to-income ratio was 43.4% due to prudent and disciplined cost management while impairment charges were made for specific and overlay provisions for oil and gas exposures.

       "We continue to be proactive and prudent in managing risks with pre-emptive provisions against certain loan portfolios.

       "Total overlay reserves retained at RM945mil, from RM900mil last quarter," he said.

       "Importantly, we are pleased to report an annualised ROE of 9.2%," he added.

       Over the nine months period, gross loans and financing grew 4% to RM119.3bil with mortgage and personal financing driving the increase.

       Meanwhile, wholesale banking and business banking loans rose RM1.1bil and RM792bil respectively.

       Customer deposits grew 3.5% year-to-date to RM124.7bil with time deposits adding 3% and current account savings account (Casa) balances up 4.6% to RM37.4bil.

       The group said it remains highly liquid with a liquidity coverage ratio of 164% as at end-2021.

       AMMB reported a common equity tier-1 ratio of 11.9%, which is a 1.5% increment over the nine months period while total capital ratio stood at 14.5%.