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Article: AMMB maintains profit target
- Article from:
- New Straits Times
- Article date:
- August 14, 2009
- Author:
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Adeline Paul Raj
New Straits Times
08-14-2009
AMMB maintains profit target
Byline: Adeline Paul Raj
Edition: Main/Lifestyle
Section: Business Times
Type: Company
MALAYSIA'S fifth largest banking group AMMB Holdings Bhd is maintaining a net profit target of between RM800 million and RM900 million for the current fiscal year despite posting an unexpectedly strong first quarter performance.
The group, which made a net profit of RM861 million in the previous year ended March 31 2009, earlier this week reported a first quarter net profit of RM258 million.
This was 27 per cent higher than what it made a year earlier and it was largely due to strong earnings from the investment banking side.
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