AMMB Holdings Bhd posted net profit of RM179.82 million for the fourth quarter ended March 31, a decline of 17.3% from RM217.49 million a year ago. It declared a first and final dividend of 8% for the financial year ended March 31.
The banking group said on May 15 the lower earnings were due to higher allowance for losses on loans and financing of RM85.0 million, lower interest income on loans and advances which decreased from RM814.9 million to RM790 million and higher impairment losses on securities which rose by RM14.3 million.
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