26th Annual General Meeting
L-R: Mr Jamie Ling, Group Chief Financial Officer, AmBank Group, Dato’ Sulaiman Mohd Tahir, Group Chief Executive Officer, AmBank Group and Mr Ganesh Kumar Nadarajah, Executive Vice President, Business Performance and Investor Relations, Group Finance, AmBank Group at the PC held after the AGM.
AMMB Holdings Berhad (“AmBank Group” or “the Group”) held its 26th Annual General Meeting (“AGM”) in Kuala Lumpur yesterday. The Group has received shareholders’ approval for all resolutions tabled at the AGM. These resolutions were set out in the Notice of AGM sent to shareholders and are available on AmBank Group’s corporate website.
Financial performance in FY2017
For the financial year ended 31 March 2017 (FY2017), the Group reported a profit after tax and non-controlling interest (“PATMI”) of RM1,324.6 million. The Board has declared a final single-tier dividend of 12.6 sen per share, bringing total dividends for the year to 17.6 sen per share. This translates to a 40% dividend payout for the full year.
A snapshot of AmBank Group’s financial performance for FY2017 is as follows:
• PATMI at RM1,324.6 million
• Profit before provision (PBP) at RM1,605.1 million, up 5.5%
• Return on equity (ROE) at 8.5%
• Earnings per share (EPS) at 44.06 sen
• Return on assets (ROA) at 1.1%
• Cost-to-income (CTI) ratio at 57.4%
||• Current accounts and savings accounts (CASA) at RM19.9 billion, up 6.1% |
• Customer deposits at RM104.8 billion, up 2.6%
• Gross loans and financing at RM91.0 billion, up 3.5%
Risk, Capital and Funding
|• Gross impaired loans (GIL) ratio at 1.86%, down 8 basis points (bps)|
• Common Equity Tier-1 (CET 1) capital at 11.6%
• Loan-to-deposit (LD) ratio of 85.7%
1Basic Earnings Per Share
2Includes stable funding sources such as term funding and loans sold with recourse
3Based on Aggregated Banking Entities net of proposed dividend
4Includes stable funding sources
Dato’ Sulaiman Mohd Tahir (Dato’ Sulaiman), AmBank Group Chief Executive Officer, said, “FY2017 saw the AmBank Group kicking off our four year growth strategy as we realigned key performance indicators to support our growth agenda. We started by building on areas that support growth while we worked to improve our margins and strengthen our balance sheet.”
“Our first year in our growth journey has seen us make strong strides, demonstrated by our FY2017 results. In the coming year, the Group will maintain laser-sharp focus on our growth strategy. We aim to further unleash our potential by expanding our share of customer’s wallet and increasing our customer base through our digital propositions. We will be accelerating penetration into our targeted segments and expanding in areas where we are already strong. We will focus on growth of quality assets, our deposit mix, maximising fees and optimising and improving our risk-adjusted returns.”
Dato’ Sulaiman concluded that the Group is well positioned to achieve its growth targets and are committed to improving shareholder value.