KUALA LUMPUR: AmBank Group started its new financial year with net profit of RM386.60mil, an increase of 5.9% from the RM365.16mil a year ago amid a bumpy road in the country’s economic recovery due to the Covid-19 pandemic.
AmBank first to launch Malaysia s digital onboarding solution for SMEs Azanis Shahila Aman
KUALA LUMPUR: AMMB Holdings Bhd (AmBank) has launched what it claims as Malaysia s first fully end-to-end electronic business current account opening for small and medium enterprise (SMEs).
According to Ambank, this was the first truly contactless customer experience for digital on-boarding where it completely eliminates the need for a physical meeting, which was essential during the movement control order (MCO) period. This new value-added proposition from AmBank will provide an option for business sustainability as well as allow retail SMEs to grow and lookout for new opportunities.
(AmBank) has stepped up its ongoing efforts in providing relief to customers, both individuals and SMEs who are affected by the movement control order (MCO).
In a statement, AmBank said its efforts were in line with the Government’s targeted repayment assistance initiative, which was announced under the Pemerkasa Plus financial aid package.
Group chief executive officer Datuk Sulaiman Mohd Tahir said AmBank would continue to assist customers through the repayment assistance packages and the rescheduling and restructuring plans that meet their respective needs.
“To this end, as at March 31, we have extended approximately RM15.2bil in repayment assistance for loans and financing for all customer segments and have approved close to 100% of these applications. We aim to extend this service further, up to Dec 31 and are also conscious of the need to review the potential of granting further extensions, if need be, in light of MCO 3.0,” he said.
KUALA LUMPUR, May 31 AMMB Holdings Bhd (AmBank Group) posted a net loss of RM3.83 billion in the financial year ended March 31, 2021 (FY2021) from a net profit of RM1.34 billion posted in FY2020. Revenue fell 9.8 per cent to RM8.41 billion from RM9.32 billion previously, AmBank Group said in a.
THE Covid-19 pandemic has caused many companies to be in financial distress, forcing some to temporarily shut down factories and operations for at least two months from mid-March in 2020 and experiencing lower demand after that.
With numerous firms seeing a decline in earnings, and many falling into the red, one wonders how much Malaysia’s top brass were paid in 2020 versus the year before.
According to data compiled by The Edge, among the top 50 companies by market capitalisation, the heads of 15 firms took a pay cut, 13 saw a bump in their paycheques and only two those of Supermax Corp Bhd and Time dotcom Bhd had no change in pay.