AMMB expects 5% growth in net profit for FY17

KUALA LUMPUR: AMMB Holdings Bhd (AmBank Group) expects net profit for the financial years ending March 31, 2017 (FY17) and 2018 (FY18) to grow 5% and 10% respectively.
CFO Mandy Simpson said growth will be driven by stabilised margins and stronger performance in targeted segments, with momentum in SME and higher utilisation in corporate.
Speaking to reporters at its first half FY17 results today, she said other market activities such as the wealth side and the group's focus on cost management will also support its growth going into FY18.
The group expects return on equity (ROE) for FY17 and FY18 to be at 8.5-9% and 10% respectively while cost to income (CTI) ratios are forecasted at 57% and 50% respectively.
ROE and CTI ratio stood at 8.7% and 55.6% respectively for the first half ended Sept 30, 2016.