Impairments and write-offs dent AmBank’s 2Q net profit
The Malaysian Reserve-News·2019-12-02 14:34
AMMB Holdings Bhd (AmBank) recorded a net profit of RM319.57 million for the second quarter ended Sept 30, 2019 (2Q20), from RM348.15 million recorded a year ago due to allowance impairments and other net write-offs.
The banking group registered an allowance for impairment on financial investments of RM42.99 million in the quarter compared to RM2.82 million write-back of allowance.
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