KUALA LUMPUR, Feb 25 — AMMB Holdings Bhd (AmBank Group) recorded an increase in net profit for the third quarter (Q3) ended Dec 31, 2021 to RM403.29 million compared with RM263.83 million in the same quarter a year ago.

Revenue improved marginally to RM1.183 billion from RM1.176 billion previously, the group said in a Bursa Malaysia filing today.

For the cumulative nine-month period (9M), the group’s total income was up 3.5 per cent to RM3.54 billion, with 15.5 per cent gain in net interest income (NII) driven by both loans growth and net interest margin (NIM) expansion.

Expenses were well-managed at RM1.53 billion, lower by 4.4 per cent. Cost-to-income (CTI) ratio improved to 43.4 per cent from 47.0 per cent a year ago, registering a positive JAWS (a technical term that denotes income growth exceeding that of expenses) of 7.9 per cent.

Gross loans and financing grew 4.0 per cent or RM4.5 billion year-to-date (YTD) to RM119.3 billion with growth seen across diversified segments as economic recovery gained momentum in this quarter. 

Retail banking loans remained the main driver, increasing by RM2.7 billion primarily contributed by mortgage loans as well as personal financing, offset by a reduction in auto finance. 

This was followed by wholesale banking and business banking loans with increases of RM1.1 billion and RM792 million respectively.

Meanwhile, deposits from customers increased by 3.5 per cent YTD to RM124.7 billion. 

Time deposits increased 3.0 per cent YTD with current account savings account (CASA) balances up by 4.6 per cent to RM37.4 billion. 

"Importantly, the group remains highly liquid, with a liquidity coverage ratio (LCR) of 164.0 per cent as at Dec 31, 2021,” said the group.

Commenting on the group’s performance, AmBank group chief executive officer Datuk Sulaiman Mohd Tahir said the group sustained its growth streak to deliver another set of resilient results as the economy continues to recover from Covid-19 related disruptions. 

Nonetheless, given the fact that these are still challenging times, he said the group will continue to facilitate access to financing and repayment assistance through the government’s latest Financial Management and Resilience Programme (URUS). He urged customers to reach out to the bank to seek assistance.

Moving towards sustainability, he said AmBank Group has held its inaugural environmental, social and governance (ESG) day on Jan 12, 2022 to engage with customers and investors on the group’s ESG journey.

"Supported by our resilient fundamentals, we expect to continue supporting the revival of the Malaysian economy while doubling our efforts to further spur the bank’s growth and financial strength in a sustainable manner,” he added. — Bernama