AMMB Investor Presentation · 2020-06-29 · AmOnline customers: 298k -> 966k (3.2x) Monthly online...

FY2020 RESULTSINVESTOR PRESENTATION

29 JUNE 2020

GCEO PRESENTATIONDato’ Sulaiman Mohd Tahir

FY20 Financial Snapshot

Top 4 Strategy

Managing Uncertainties (COVID-19)

Market Outlook

FY20 Financial agenda and scorecard

FY21 Outlook

3

4-5

6-12

13

14

15

FY20 Financial snapshot

FY2020 Results – Investor Presentation3

Financial Snapshot

FY20 Financials Strong revenue and PBP out turn Macro provisions of RM167m taken in Q4FY20

Profitability(RM’ mil)

Income4,227

FY19: 3,922 8% • Good income growth underpinned by NII and trading & fee income

Expenses2,108

FY19: 2,131 1% • Continue to optimise operational efficiency

PBP2,119

FY19: 1,792 18% • Positive JAWs of 9%, CTI of 49.9%

(Recovery) / Impairment

336FY19: (304)

>100% • Credit costs includes RM167m macro provisions taken in March 2020

PATMI1,341

FY19: 1,505 11%

• Underlying net profit up 15% (excluding RM167mil macro provisions and net gains on retail debt sale of RM285mil in Q4FY19)

ROE7.4%

FY19: 8.8% 140bps • Underlying ROE 8.1%; underlying ROTE at 9.4%

Assets & Liabilities (RM’ bil)

Gross Loans107.2

FY19: 101.8 5% • Broad-based loans growth, ex. auto loans up 9%

Deposits113.0

FY19: 106.9 6% • Actively managing cost of funds, CASA up 16%

Capital & Liquidity

FHC CET11 12.4%FY19: 11.9%

55 bps • Improved CET1 (regulatory reserve of 1% retained)

FHC LCR158%

FY19: 193% 3500 bps • Highly liquid

Dividend per share13.3 sen

FY19: 20.0 sen 6.7 sen • Dividend payout of 30%

1. After deducting proposed final dividend

AmOnline customers: 298k -> 966k (3.2x)Monthly online transactions: RM8mil -> RM1.9bil

Closing Top 4 Strategy (FY17 – FY20): Setting up for sustainable growth


Top 4 Strategy

Growth in targeted segments & products

Firmer foundations

Enhanced digital capabilities

Foreign e-Remittance

Connecting you to the world

Easy-to-remember IDsfor payment

Cheque Management

Old way of work in a new way

Convenient online payment

at your finger tips

Digital Token

One device settle it all

Fresh FundsReduce a significant

friction for customers to place in new

deposits

Apply AmMoneyLine1st online debt consolidation

DuitNow QRCashless experience

with convenient mobile payment

Foreign e-Remittance

Instant, Transparent

• Built core revenue base over RM4bil (FY17-20 CAGR: 4%)

• CTI below 50% (from FY16: 58.8%)• Resolved large corporate NPLs and completed

retail debt sale• Improved capital and liquidity positions

M A X I S L U N O U N I O NP A Y

W E C H A TP A Y

R A K U T E N

Developing partnerships and ecosystems

RM’bil FY2016 FY2020 Growth

SME 11.9 20.6 1.7x

MidCorp 11.8 16.0 1.4x

Card 1.6 2.6 1.6x

Loan

s

RM’bil FY2016 FY2020 Growth

Deposit 90.4 113.0 1.3x

CASA 18.7 28.8 1.5x

CASA Ratio 20.7% 25.5% 1.2xDe

po

sits

Cu

sto

me

rs

Customer base FY2016 FY2020 Growth

Mass Affluent 51,843 143,466 2.8x

Affluent 43,358 85,919 2.0x

SME 78,517 93,886 1.2x

Mid Corp 2,705 2,848 1.1x

3,696

3,7663,979 3,922

4,227

FY16 FY17 FY18 FY19 FY20

2,174 2,160

2,421

2,131 2,108

58.8% 57.4%60.8%

54.3%49.9%


90.4 93.9 95.8106.9 113.0


87.9 91.0 96.3 101.8 107.2


1,302

1,325

1,132

1,505

1,341


1,2733

1,4683

1,2023

1,522

1,605

1,558

1,792

2,119


Strategic execution outcomes

5

Strategy review

Total Income (RM’ mil)

Expenses (RM’ mil) & CTI (%)

PBP (RM’ mil)

PATMI (RM’ mil)

Gross Loans (RM’ bil)

Customer Deposits (RM’ bil)

1. 3FY CAGR (Peers) calculated based on average of 8 local banks’ CAGR in their respective financial year end2. Includes gain on foreclosed properties and fixed income trading3. Underlying 4. Refer to page 19 for details on normalised items

CTI

Expenses

FY2020 Results – Investor Presentation

CAGR FY17 – 20:AMMB: 4%Peers1: 4%




CAGR FY17 – 20: CTI Exp.AMMB: 4% 1%Peers1: ≈ 3%

YoY Growth: 8%

YoY Growth: 18%

YoY Growth: 5%

YoY Growth: 11%

YoY Growth: 6%

Exp.YoY

Growth: 1%

CAGR FY17 – 20:AMMB: ≈

Peers1: 5%

23241274

704

1934

2,2283

1682

1282

1,1973

3,5983 3,8923

874

3,9003

224

1682 1064224

1,4383

1,6643

1,7703

Managing through uncertainties (COVID-19)


COVID-19: Initiatives & Approach

Employees

Staff welfare our top priority

• BCM plan activated

• Staff currently under “split operations” and “work from home” arrangements (58% WFH)

• Enabled VPN and video conferencing capabilities

• Revised branch hours and social distancing measures

• RM2.8mil of COVID-19 response costs• Net loans qualified for BNM’s 6-month

moratorium (after opt out) = ~RM65 billion

• Approved ~RM800 million SRF facility for circa 1,000 SMEs

• R&R for corporates

Supporting our customers

Communities

Care for our communities

• Sponsored meals for UM Medical Centre front liners

• Donations of RM500,000 to TabungCOVID-19 via MERCY

• Staff fund raising for charitable causes

• Capital maintenance

• Funding resiliency

• Credit vigilance

• Stress testing

Internal prudential measures

Customers

Internal measures

Funding and liquidity approach


Higher customer and FI deposits, raising medium term funding Liquidity ratios

COVID-19: Funding & Liquidity

Ratios FY19 FY20 Apr’20

LCR 192.9% 158.2% > 170%2

LDR 95.3% 94.9% 89.5%

LTAF3 83.0% 81.5% 77.7%

NSFR4 >115% >100% N/A

Note: 2. All banking entities3. Loan-to-Available-Funds ratio (LTAF) refers to gross loans (excluding

financing funded by Islamic Investment Accounts and loans sold to Cagamas) divided by deposits plus borrowings and sub debt.

4. BNM lowered the minimum NSFR requirement from 100% to 80%, effective from Apr’20 to Sep’20

• Circa RM72bil (67% of total loans RM107.2bil) qualified for moratorium. Net qualifying loans after opt out at circa RM65bil (61% of total loans)

• Cash gap ~RM6bil over 6 months (LCR impact of 3-5% per month on a static basis)

• Actions to raise additional liquidity:

- RM2.2bil1 medium term funding (2Y-5Y tenor) raised in Mar and Apr

- RM5.7bil1 growth in customer deposits / NIDs since 31 Mar

- LCRs for all banking entities above 170%1, higher than 31 March 2020 and LDR at 89.5%1

Impact of moratorium and mitigating actions

Maturity Breakdown (Remaining Contractual Maturities)RM’bil

Short term funding (Customer and FI deposits)

Medium term funding (Term funding, Cagamas

and debt capital)

FY19 FY20 Apr’20 FY19 FY20 Apr’20

Up to 1 month 53.1 66.3 64.0 0.0 0.1 0.1

> 1 - 3 months 21.9 28.5 28.8 0.2 1.6 1.6

> 3 - 6 months 17.5 11.2 13.2 3.1 2.0 2.0

> 6 - 12 months 19.1 14.2 17.7 2.2 0.9 0.9

> 1 - 5 years 2.9 2.6 2.3 2.8 3.1 3.6

> 5 years 0.1 0.2 0.2 4.2 3.7 3.7

Total 114.6 123.0 126.3 12.5 11.4 11.9

Note: 1. As at 30 Apr 20

4.50%

2.50%12.44%

FY20 CET1 BNM Requirements

CET 1 Capital Conservation Buffer Pillar 1

Capital maintenance objectives

COVID-19: Capital

• FHC CET1 of 12.4%

• Regulatory reserve at RM388mil (maintained 1% BNM minimum requirement)

• Sufficient loss absorption capacity to maintain CET1 at 10.5% (stress tests performed)

• Loss absorption capacity of RM6.3bil before breaching CET1 of 7%2


9.5%

Severity of

stress

Cumulative loss

absorption capacity

RM2.5bil3

RM3.6bil3

RM6.3bil3

7%

10.5%

1 2

1. After proposed final dividend 2. BNM allows for capital conservation buffer of 2.5% to be drawn down during the 6 month moratorium period3. Cumulative basis, based on the Group’s total RWA of RM109bil

12.4%

FHC CET1level

Moratorium for SMEs and individuals


Loans by Stages (%) Loans by Internal Risk Grades (%)

COVID-19: Asset Quality

• Total qualified loans of circa RM72bil, net qualified loans after opt-out at circa RM65bil (61% of total loans)

• FY20 net credit costs of 30bps (Before macro provisions: 14bps, in line with guidance). RM167mil macro provisions taken in March

• GIL at 1.73% (Q3FY20: 1.71%); LLC at 93.4% (Q3FY20: 105.2%)

• Portfolio monitoring and assessing credit vulnerabilities using forward looking model and credit migration stress testing

• Portfolio quality remains sound: 87% in Stage 1, circa 56% in Strong to Exceptionally Strong risk grades

Stage 187%

Stage 211%

Stage 32%

Total Gross Loans: RM107.2bil

Strong ~ Exceptionally

strong, 56%

Satisfactory ~ Moderate

31%

Marginal ~ Substandard

11%

Impaired2%

Total Gross Loans: RM107.2bil

Corporate credit: Early alert exposures


Early alert corporate exposures by categories (%) Early alert corporate exposures by risk grades (%)


Potential R&R56%

Oil & Gas34%

Covid-19 Vulnerable

Sectors10%

Early Alert Exposures (WB, BB and Retail SME)

• We have stress tested about RM13.7bil (including RM0.7bil of O&G bonds) exposures, of which:

- Categories: Potential R&R (56%, RM7.7bil), O&G (34%, RM4.7bil) and COVID-19 vulnerable sectors (10%, RM1.3bil)

- Exposure Stages: Stage 1 (88%, RM11.4bil); Stage 2 (12%, RM2.3bil)

- By Risk Grades: Over 67% in Strong to Exceptionally Strong risk grades

- Excluding the O&G bonds, these exposures constitute 12.1% of our total loans

• COVID-19 vulnerable sectors refer to hotels, restaurants, tourism/ leisure activities, manufacturing, services, wholesale/ retail trade, construction, transport & storage, passenger transport and plantation industries

Early alert exposures RM13.7bil

Early alert exposures RM13.7bil

Strong ~ Very

Strong67%

Satisfactory ~ Moderate

27%

Marginal ~ Substandard

6%

Strong ~ Exceptionally Strong

9%

Satisfactory~ Moderate

62%

Marginal~ Substandard

26%

Impaired3%

Internal Risk Grade

(%)

Secured55%

Partially secured

45%Collaterisation

(%)

SME portfolio: Balanced risk profile


Business Banking (RM11.2bil gross loans)

Retail SME (RM3.6bil gross loans)


CGC / SJPP

Guarantee43%

Property Financing

40%

Others1

17%

Collaterisation(%)

Strong~ Exceptionally

Strong36%

Satisfactory~ Moderate

52%

Marginal~ Substandard

9%

Impaired3%

Internal Risk Grade

(%)

1. Facilities with varying levels of collateralisation

Retail portfolio: Highly collateralised


Mortgages (RM32.6bil gross loans)

Auto Finance (RM13.1bil gross loans)


> RM 10K41%

> RM 5K -RM 10K

40%

> RM 3K -RM 5K

14%

≤ RM 3K5%

Income Level

≤ 50%43%

> 50% -60%25%

> 60%32%

Debt-Service Ratio(DSR)

> RM 10K14%

> RM 5K -RM 10K

39%

> RM 3K -RM 5K

35%

≤ RM 3K12%

Income Level

≤ 50%65%

> 50% -60%18%

> 60%17%

Debt-Service Ratio(DSR)

• Collateral Coverage: 99.4%

• Current LTV: 68%

• 75% of the Mortgages are owner occupied

• Self-employed : 12% of portfolio

• Collateral coverage: 97.3%

• National / Non-national cars: 43% / 57%

• Self-employed : 9% of portfolio

Outlook for 2020


Market Outlook

GDP growth: +0.4% to -2.0%

Banking Sector

Inflation: +0.5% to -1.5%

Export growth: -3.0% to -9.2%

USD/MYR outlook: 4.25 – 4.30

Loans growth: 0.4% to -2.5%

Asset quality: Weaker (COVID19 impact)

OPR: 1.50% to 2.00%

Resilient liquidity & capital positions

Malaysia

FY20 Financial agenda and scorecard


Financial agenda

Revenue growth

BET300

“Accelerate digital partnerships”

“ Continue to create a leaner and more efficient organisation”

FY20 priorities

FY20 priorities

Key Metrics

Key Metrics

• Increasing penetration in targeted products & segments, grow

CASA

• Diversifying funding, managing cost of funds

• Smart digital partnerships to create new customer access points

• Revenue growth

• NIM

• CASA growth

• Cost discipline

• Pacing investments

• Digital initiatives to drive internal efficiencies

• CTI

• Positive JAWS

FY20 Scorecard1

• NII growth = 8%

• NoII growth = 8%

• NIM = 1.94% ( 5bps)

• CASA growth = 16%

FY20 Scorecard1

• CTI = 49.9% ( 440bps)

• Positive JAWs = 9%

1. Represents YoY growth unless otherwise stated

P

P

P

P

P

P

Capital accretion“To strengthen our capital position and deliver sustainable dividend payout”

FY20 priorities Key Metrics

• Capital release options

• RWA efficiencies

• FHC CET1 ratio

• RWA growth

• ROE improvement

• Dividend payout

FY20 Scorecard1

• FHC CET1 = 12.4% ( 55bps)

• RWA efficiency = 64.4% ( 60bps)(FY16 – 18 Average: 71.9%)

• Reported ROE at 7.4% ( 140bps)Underlying ROE at 8.1% ( 70bps)

• Dividend payout at 30%

O

P

P

P

O

14

FY21 Outlook


Guidance

• Outlook is uncertain due to COVID-19 and MCO

• MFRS9 accounting impact from BNM’s loan moratorium

• Weaker asset quality expected

• Further OPR cuts and NIM compression

• Positive on fixed income trading

01

• Exercise credit vigilance

• Proactively supporting our customers

• Maintain sound capital and liquidity positions

• Managing cost tightly, BET2.0 launched

• Supporting our staff and our communities

02

Expectations

FY21 Agenda

GCFO PRESENTATIONJamie Ling

Financial Overview

FY20 Scorecard

17 - 29

30

Q4FY20 Financial overview


Financial Overview

Q4FY20 Results (QoQ)

• Income down 10% to RM989mil:

- NII at RM704mil, down 2%, NIM of 1.95% (Q3FY20: 2.02%)

- NoII at RM285mil, impacted by volatile fixed income trading

• Expenses lower at RM501mil. CTI at 50.7% (Q3FY20: 50.0%)

• PBP decreased 12% to RM488mil

• Higher net impairment of RM203mil, mainly due to macro provision of RM167mil

• Reported PATMI at RM248mil (excluding macro provisions, PATMI was RM375mil)

1

2

3

Capital

• Well capitalised

• 30% dividend payout ratio

• Adequate loss absorption capacity (based on credit stress test ranges)

Liquidity & Funding

• Highly liquid (FHC LCR of 158.2%, LDR 94.9%)

• NSFR for all banking entities above 100%

Q4FY20 Q3FY20 QoQ Change FY20 FY19 YoY Change

CTI 50.7% 50.0% 70bps 49.9% 54.3% 440bps

NIM 1.95% 2.02% 7bps 1.94% 1.89% 5bps

ROE 5.4% 8.3% 290bps 7.4% 8.8% 140bps

EPS1 8.24 sen 12.71 sen 4.47 sen 44.64 sen 50.03 sen 5.39 sen

FY20 Performance summary – P&L


Financial Overview

1. Basic Earnings Per Share

Q4FY20 Q3FY20 QoQ Change FY20 FY19 YoY Change

Total Income 989 1,105 10% 4,227 3,922 8%

Expenses 501 552 9% 2,108 2,131 1%

PBP 488 552 12% 2,119 1,792 18%

Net (Recovery) / Impairment

203 57 >100% 336 (304) >100%

PATMI 248 382 35% 1,341 1,505 11%

P&L(RM’ mil)

FinancialIndicators

12.0% Q4FY20 Q3FY20 QoQ Change FY20 FY19 YTD Change

FHC CET1 12.4% 12.2% 28bps 12.4% 11.9% 55bps

FHC Tier 1 12.4% 12.2% 28bps 12.4% 11.9% 55bps

FHC Total Capital 15.8% 15.6% 17bps 15.8% 15.4% 37bps

FY20 Performance summary – balance sheet


Financial Overview

Q4FY20 Q3FY20 QoQ Change FY20 FY19 YTD Change

Gross Loans 107.2 104.5 3% 107.2 101.8 5%

GIL 1.73% 1.71% 2bps 1.73% 1.59% 14bps

LLC1 93.4% 105.2% 1180bps 93.4% 114.0% 2060bps

Customer Deposits 113.0 105.7 7% 113.0 106.9 6%

CASA 28.8 24.8 16% 28.8 24.9 16%

Balance Sheet(RM’ bil)

Capital Indicators2

1. Includes regulatory reserves2. After deducting proposed dividends

Unpacking the normalised items


Underlying

ROE – Reported 7.0% 8.8% 1.8% 7.4% 1.4%

ROE - Underlying 7.3% 7.4% 0.1% 8.1% 0.7%

FY18 FY19 YoY Change FY20 YoY Change

Income - Reported 3,979 3,922 1% 4,227 8%

Foreclosed properties disposal gain 45 22 - - -

Investment share revaluation 42 - - - -

Income - Underlying 3,892 3,900 ≈ 4,227 8%

Normalised P&L (RM’ mil)

Expenses - Reported 2,421 2,131 12% 2,108 1%

Retail operational loss 47 - - - -

MSS cost 146 - - - -

Expenses – Underlying 2,228 2,131 4% 2,108 1%

Normalised ratios (RM’ mil)

PATMI - Reported 1,132 1,505 33% 1,341 11%

PATMI - Underlying 1,202 1,273 6% 1,468 15%

PBP – Reported 1,558 1,792 15% 2,119 18%

PBP - Underlying 1,664 1,769 6% 2,119 20%

CTI – Reported 60.8% 54.3% 6.5% 49.9% 4.4%

CTI – Underlying 57.2% 54.6% 2.6% 49.9% 4.7%

Impairment – Reported 16 (304) >100% 336 >100%

Macro provisions - - - 167 -

Gain on Retail debt sale - (285) - - -

Impairment - Underlying 16 (19) >100% 169 >100%

642 648 661 629 669 680 721 704

372 359 286 326395 389

383285

1,014 1,007947 955

1,065 1,0691,105

989

Q1FY19 Q2FY19 Q3FY19 Q4FY19 Q1FY20 Q2FY20 Q3FY20 Q4FY20

Net Interest Income Non-interest Income

2,485 2,580 2,774

1,4951,342

1,453

3,979 3,9224,227

FY18 FY19 FY20

Broad-based income growth


Income

1. Foreclosed properties disposal gain2. Refer to page20 for details on normalised items

221

RM’ mil

Business SegmentsQ4FY20 Q3FY20 QoQ Change FY20 FY19 YoY Change

(RM’ mil)

Wholesale Banking 284 317 10% 1,237 1,076 15%

Investment Banking 81 85 5% 305 242 26%

Retail Banking 354 386 8% 1,466 1,449 1%

Business Banking 96 94 2% 366 323 13%

Group Funding & Others 85 87 2% 268 230 17%

Total Income – Banking 900 968 7% 3,643 3,321 10%

General Insurance 10389

133137

23% 35%

594584

589602

1% 3%

Life Insurance (14) 4 >100% (10) 12 >100%

Total Income 989 1,105 10% 4,227 3,922 8%

3,892 3,900 4,227

Underlying

872 222

501 502

434

355

536 543 552

488

348 348 350

460

391

320

382

248

8.3% 8.2% 8.1%

10.7%8.8%

7.0%8.3%

5.4%


PBP PATMI ROE

Improved operating leverage


PBP & PATMI

RM’ mil


(RM’ mil)

Wholesale Banking 202 241 16% 934 793 18%


Retail Banking 129 171 24% 601 608 1%


Group Funding & Others 56 (4) >100% (2) (127) 98%

PBP – Banking 481 501 4% 1,873 1,539 22%

General Insurance 217

4751

55% 86%

256246

240252

7% 3%

Life Insurance (14) 4 >100% (10) 12 >100%

PBP 488 552 12% 2,119 1,792 18%

2172

1. Foreclosed properties disposal gain2. Retail debt sale gain3. Macro provisions4. Refer to page20 for details on normalised items

1,6641,792

2,119

1,132

1,505

1,341

7.0%8.8%

7.4%

FY18 FY19 FY20

1,202

1,273

1,4681,5582324

704

1273

151

1274221

224

1064 1,769

1,505

1,341

194111 23

162

640

14

P&L walk


Group P&L

YoY Growth 8% 8% 8% 1% 18% >100% 15% 33% 9% 15% 11%

RM’ milNet Interest

IncomeNon-Interest

IncomeTotal

IncomeExpenses PBP

(Recovery) /Impairment

PBT Tax & Zakat PAT MI PATMI

FY20 2,774 1,453 4,227 2,108 2,119 336 1,783 330 1,453 112 1,341

FY19 2,580 1,342 3,922 2,131 1,792 (304) 2,095 492 1,603 98 1,505

NIM: 1.94%

NoII%: 34.4%

CTI: 49.9%

GIL: 1.73%

EffectiveTax Rate:

18.3%78%

74%

Positive growth in FY20 Contraction in FY20 Conventional PATMI Islamic PATZ

22%

26%

5.08% 5.07% 5.03% 4.92% 4.93% 4.83% 4.84%4.63%

3.39% 3.47% 3.46% 3.45% 3.37% 3.22% 3.11% 2.96%

2.02% 1.91% 1.88% 1.78% 1.87% 1.91% 2.02% 1.95%

1.69% 1.60% 1.57% 1.47% 1.56% 1.61% 1.73% 1.67%


Gross Yield COF NIM Net Spread

4.94% 5.02%4.81%

3.26%3.45%

3.16%

2.00% 1.89% 1.94%

1.68% 1.58% 1.64%

FY18 FY19 FY20

189 194

3.9 3.7

7.1

0.4

0.2 0.1 0.4 1.4

8.0

FY19 WholesaleBanking

InvestmentBanking

RetailBanking

BusinessBanking

Others Asset volume& mix

Interbank / GroupFunding

Depositsrates

Depositsmix

FY20

NIM improved YoY despite OPR reductions


NIM Trend

Net Interest Margin (NIM) Movement

NIM

Funding + DepositsAssets

Positive growth in FY20 Contraction in FY20

NIM movement:QoQ : 7bpsYoY : 5bps

1. Net spread equals to Gross Yield less COF

1

101.8

107.2

1.4 0.7

2.4

0.1 0.9

0.8

1.3

0.0 2.2

FY19 MidCorp Large Corp &Others

InvestmentBanking

Mortgage Auto Finance Cards Retail SME Others BusinessBanking

FY20

Diversified loans growth


Gross Loans Movement (RM’ bil)

Loans

YTD Growth 9% 4% 1% 7% 14% 3% 35% 37% 13% 5%

Composition 15% 18% 2% 34% 12% 2% 3% 3% 11% 100%

Retail 4%

1. Annualised2. Based on BNM data from Mar’19 to Mar’203. Based on BNM data and in accordance with AMMB’s financial period

Wholesale 6%

Breakdown by rate sensitivity:Fixed rate – 24%Variable rate –76%

Breakdown by customers type:Retail – 55%Non-retail – 45%

Breakdown by concept:Islamic – 30%Conventional – 70%

Gross loans trend


YTD Growth Industry

5% 4%2

6% 5%3

6% 4%3

ROA1: 0.93%

RoTA1: 0.94%

Ex. Auto : 9%

96.3

101.8

107.2

FY18

FY19

FY20

208 200

392

142 187 215

898

-

197 247

823

-

IndividualAllowance

ECL Stage 3 /CP - Defaulted

ECL Stage 1 & 2 /CP - Non defaulted

Model Risk Adjustment

FY18 FY19 FY20

(303.8)

168.8 336.1

43.7

151.9

493.6167.3

185.6

31.1

FY19 ECLStage 1 & 2

ECLStage 3

IndividualAllowance

Recoveries Others FY20beforemacro

provision

Macroprovision

FY20

776 649 681 728 924

925 1,000 749 676 646

40 209 217 283

1,701 1,689 1,638 1,621 1,853

1.94% 1.86%1.70%

1.59%1.73%


Retail Wholesale

Business GIL Ratio

81.2% 79.7%100.5% 114.0%

93.4%

Credit costs normalised and macro provisions


Impairment Balance (Balance Sheet) Credit Cost (%) and New Impaired Loans Formation (RM’ mil)

Net Impairment (RM’ mil) Gross Impaired Loans, GIL and LLC Ratios

Asset Quality

1. Includes regulatory reserve of RM703m (FY18), RM450m (FY19) and RM388m (FY20)

AmBank Group FY16 FY17 FY18 FY19 FY20FY20

(excl. macro provision)

Credit cost3 (%) -0.18% -0.19% 0.00% -0.30% 0.30% 0.14%

Credit cost3

(excl. recoveries) (%)0.46% 0.56% 0.47% 0.53% 0.62% 0.47%

New Impaired LoansFormation (RM’ mil)

1,418 1,330 1,162 1,123 1,491 N/A

RM’ mil

1Loan Loss Coverage

Positive P&L impact in FY20 Negative P&L impact in FY20

Non-performing / impaired assets

Performing assets

Stage 2

Stage 1283

FY18: 943FY19: 1,301FY20: 1,268

Total Provisions

RM’ mil

308

2. Includes macro provision

2

590

540

26

Q1FY20: (32.5)Q2FY20: 109.1Q3FY20: 56.9Q4FY20: 202.6

3. Includes loan loss allowances only

42%

50%

4%4%

Credit quality


Impaired Loans by Sector Loans by Internal Risk Grade

Asset Quality

SectorMar’20

CompositionMar’19

YTD Growth QoQ GrowthRM’ mil RM’mil

Agriculture 85 5% 1 >100% >100%

Mining and quarrying 54 3% 79 32% 4%

Manufacturing 248 13% 165 51% 1%

Construction 84 5% 23 >100% 31%

Wholesale, retail trade, hotels and restaurants

134 7% 59 >100% 5%

Transport, storage and communication

81 4% 73 10% 10%

Real Estate 314 17% 504 38% 1%

Business activities 34 2% 15 >100% 1%

Education and health 25 1% 11 >100% 40%

Household of which: 794 43% 691 15% 2%

- Residential Properties 496 27% 375 32% 5%

- Transport Vehicles 157 8% 194 19% 4%

- Others 141 8% 122 16% 2%

Total 1,853 100% 1,621 14% 3%

82%

15%

1% 2%

57%36%

5%

2%

Oil & Gas:Approx. 2% of

Total Gross Loans

Real Estate:Approx. 7% of

Total Gross Loans

Construction:Approx. 4% of

Total Gross Loans

8.3

8.3

7.7

FY18

FY19

FY20

1.8

1.6

2.3

FY18

FY19

FY20

3.7

4.4

4.7

FY18

FY19

FY20

RM’ bil

RM’ bil

RM’ bil

Strong ~ Very Strong Satisfactory ~ Moderate Marginal ~ Substandard Impaired

11.3 11.4 11.7 11.4 11.6 11.8 12.2 13.0

9.5 10.6 10.413.4

11.5 11.612.5

15.820.8

22.0 22.1

24.923.1 23.4

24.8

28.821.1%21.8%

20.7%

23.3% 22.5% 22.8%23.4%

25.5%


Retail CASA Non-Retail CASA CASA Composition (%)

41.3 42.9 40.0 40.1 38.6 35.3 34.0 32.5

11.3 11.4 11.7 11.4 11.611.8 12.2 13.0

36.6 35.9 44.7 42.0 41.0 44.1 47.0 51.7

9.5 10.610.4 13.4

11.5 11.6 12.515.898.6 100.8

106.8 106.9102.8 102.7

105.7

113.0

5.5% 5.5% 5.7% 5.5%

5.3% 5.3% 5.4%

5.7%


Retail FD Retail CASA

Non-Retail FD Non-Retail CASA

AmBank Group Deposits Market Share (%)

Highly liquid


Deposits (RM’ bil) CASA (RM’ bil) and CASA Composition (%)

Deposits

1. Based on BNM data from Mar’19 to Mar’202. Based on BNM data and in accordance with AMMB’s financial period

Retail DepositMix

53.3% 53.8% 48.4% 48.2% 48.9% 45.8% 43.7% 40.2%

Customer deposits trend CASA trendYTD Growth Industry

6% 2%1

12% 5%2

2% 5%2

YTD Growth Industry

16% 10%1

22% 3%2

3% 6%2

1

Retail CASAMix

54.2% 51.6% 52.8% 46.0% 50.1% 50.3% 49.3% 45.1%

113.0

106.9

95.8

FY20

FY19

FY18

28.8

24.9

20.4

FY20

FY19

FY18

11.3% 11.6% 11.1% 11.9% 12.4%

12.3% 12.5%

16.1% 16.3%

13.6%15.4% 15.8%


CET 1 Tier 1 Total CAR

133.8 134.8 137.9158.8 169.2

71.2% 72.2% 72.2%

65.0% 64.4%

59.6% 59.5% 59.3% 58.4% 58.5%


Total Assets RWA/Total Assets Peers

Adequate capital levels


Financial Holding Company CET1 Dividend Payout Ratio

RWA/Total Assets Capital Adequacy Ratios3

Capital

RM’ bil

1. Based on an average of our seven peer domestic banks as at 31 December 20192. FHC RWA/Total Assets

1


3. After deducting proposed dividends and macro provision 4. Aggregated banking entities 5. FHC CET 1 and Tier 1 ratios are the same

FHCAggregated basis4

2

2

55

2

5

6

6. AmBank Group’s Insurance Holding

5.0 5.0 5.0 5.0 6.0

10.5 12.6 10.015.0

7.3

15.517.6

15.0

20.0

13.3

36%40% 40% 40%

30%


Interim Dividend (sen) Final Dividend (sen) Dividend Payout (%)

11.89%

12.64%

12.44%

1.19% 0.06%0.14%

0.24%

0.18%

0.60% 0.05% 0.05% 0.20%

FY19 Profit forFY20

Transferfrom

Reg reserveto RE

AMABHoldingsdividend

Dividendpaid

CreditRWA

MarketRWA

Operational& other

RWA

Others FY2020Before

Dividend

ProposedFinal

Dividend

FY20

FY20 Scorecard


Guidance

Reported: 7.4%Underlying: 8.1%

49.9%

30%

12.4%

ROE

CTI

Dividend Payout

FHC CET 1

FY20 ActualFY20 Guidance

~ 8.0% - 8.5%

≤ 50.0%

45% - 50%

11.5% ± 1%

O

P

P

P

O

Thank You

Group Performance

1,342

1,453 2

98

70 5 10 7

22

20 22 16

NoII growth underpinned by strong trading gains and higher IB fee income


NoII

YoY Growth 100% 1% 75% 36% 5% 12% 13% 2% >100% 52% 8%

RM’ milForeclosed Properties

Corporate Banking

Group Treasury

& Markets

Investment Banking &

Fund Mgmt

WealthMgmt

Other RetailBusiness Banking

General Insurance

Life Insurance

Group Funding &

OthersNoII

FY20 - 159 228 265 92 151 89 463 (10) 15 1,453

FY19 22 158 130 195 88 171 79 456 12 31 1,342

FY19 NoII FY20 NoIIPositive growth in FY20 Contraction in FY20

Q1FY20: 395Q2FY20: 389Q3FY20: 383Q4FY20: 285

NoII

2,421

2,131 2,108

60.8%

54.3%49.9%

FY18 FY19 FY20

513 506 513600

529 526 552501

50.6% 50.2%54.1%

62.8%

49.7% 49.2% 50.0% 50.7%


Remain disciplined in managing costs


Expense Growth Driver Expense and CTI Trend

Expenses

Positive P&L impact in FY20 Negative P&L impact in FY20


(RM’ mil)

Wholesale Banking 83 76 9% 303 283 7%


Retail Banking 225 215 4% 865 841 3%


Group Funding & Others 29 90 68% 270 357 24%

Expenses – Banking 420 466 10% 1,770 1,782 1%

Insurance (General, life, takaful)

81 86 5% 338 349 3%

Expenses 501 552 9% 2,108 2,131 1%

RM’ mil

RM’ mil

2,131

2,108

10

15

612

FY19 Staff Cost Compliance &Governance

MFRS 16 Impact Others FY20

43.3 44.137.6

50.0 44.6

1.05%1.09%

0.91%1.08%

0.93%


EPS ROA

58.8% 57.4% 60.8%54.3%

49.9%

0.8% -0.6%

12.0%

-12.0%

-1.1%


CTI Expenses Growth

3,696 3,766 3,979 3,922 4,227

36%39% 38%

34% 34%


Total Income Non-interest Income %

1,302 1,325 1,132

1,505 1,341

8.8% 8.5%7.0%

8.8%7.4%


PATMI ROE (%)

Yearly performance


Cost to Income Ratio and Expenses Growth (%) ROA (%) and EPS (Basic)

PATMI (RM’ mil) & ROE (%) Total Income (RM’ mil) and Non-interest Income (%)

FY2020 Results

PATMI: ROE:CAGR FY16-FY20: 0.7% CAGR FY16-FY20: 0.4%YoY Growth 10.9% YoY Growth 1.4%

Total IncomeCAGR FY16-FY20: 3.4%YoY Growth 7.8%

CTI: Expenses:CAGR FY16-FY20: 2.2% CAGR FY16-FY20: 0.8%YoY Growth 4.4%

ROA: EPS:CAGR FY16-FY20: ≈ CAGR FY16-FY20: 0.7%YoY Growth 0.2% YoY Growth 10.8%

1

1. AnnualisedSource : BNM, financial statements

Retail Banking 24%

Wholesale Banking

58%

Investment Banking

7%

Business Banking

9%

Insurance8%

Group Funding

& Others

-6%

ReportedRM1,341mil

Corporate Banking11%

Group Treasury &

Market16%

Investment Banking

11%

Fund Management8%

Business Banking6%

Wealth Management

6%

Cards4%

Other Retail6%

Insurance31%

Others1%

Wholesale Banking

27%

Investment Banking

19%Business Banking

6%

Retail Banking

16%

Insurance & Others

32%

Non-interest income and PATMI mix


Non-interest Income by Lines of Business (YoY) PATMI by Lines of Business (YoY)

NoII & PATMI

61%

13%

36%

12%

75%

13%

17%

48%

≈

1%

6%

25%

8%

6%

45%

62%

6%

1

1. After deducting share of minority interests

11%

5%

3%

Non-interest income

RM1,453 mil

52%

Total impairments by category (RM’ mil) Q1FY19 Q2FY19 Q3FY19 Q4FY19 Q1FY20 Q2FY20 Q3FY20 Q4FY20 QoQ Change FY19 FY20 YoY Change

ECL Stage 1 & 2 / CP – Non defaulted1 (71) (9) 50 (14) (128) (38) (29) 116 >100% (44) (79) 79%

ECL Stage 3 / CP – Defaulted 136 144 138 131 163 182 132 116 12% 549 593 8%

Individual Provisions 46 34 (17) (17) 9 123 44 21 53% 45 197 >100%

Recoveries (117) (134) (215) (371) (93) (120) (77) (54) 30% (837) (344) 59%

Other Provisions2 13 (24) (7) 1 15 (37) (13) 4 >100% (17) (31) 84%

Total net impairments / (writeback) 7 11 (51) (270) (32) 109 57 203 >100% (304) 336 >100%

Total impairments by divisions (RM’ mil) Q1FY19 Q2FY19 Q3FY19 Q4FY19 Q1FY20 Q2FY20 Q3FY20 Q4FY20 QoQ Change FY19 FY20 YoY Change

Wholesale Banking (39) (12) (142) (32) (106) 48 1 (2) >100% (224) (60) 73%

Investment Banking (5) 1 (1) (1) (0) 1 (8) 2 >100% (7) (6) 17%

Retail Banking 42 19 51 (251) 59 37 49 42 14% (139) 187 >100%

Business Banking 2 1 12 16 14 27 21 (5) >100% 31 57 86%

Group Funding & Others 5 3 32 (3) (1) (1) (4) 168 >100% 37 162 >100%

General Insurance 2 (1) (2) 0 2 (2) (2) (2) 9% (1) (4) >100%

Total net impairment / (writeback) 7 11 (51) (270) (32) 109 57 203 >100% (304) 336 >100%

GIL Ratio (%) Q1FY19 Q2FY19 Q3FY19 Q4FY19 Q1FY20 Q2FY20 Q3FY20 Q4FY20 QoQ Change YoY Change

Wholesale Banking 2.54% 2.27% 2.18% 2.01% 1.90% 2.06% 1.77% 1.81% 4bps 20bps

Investment Banking 0.12% 0.12% 0.13% 0.10% 0.11% 0.11% 0.11% 0.11% ≈ 1bps

Retail Banking 1.26% 1.32% 1.32% 1.28% 1.44% 1.51% 1.54% 1.57% 3bps 29bps

Business Banking 2.41% 2.53% 1.68% 2.18% 2.39% 2.52% 2.73% 2.51% 22bps 33bps

Group 1.77% 1.72% 1.62% 1.59% 1.66% 1.77% 1.71% 1.73% 2bps 14bps

Industry 1.59% 1.53% 1.45% 1.48% 1.58% 1.61% 1.52% 1.59% 7bps 11bps

Impairments


Net Impairment / (Writebacks) and GIL Ratio

Asset Quality

1. Includes macro provision 2. Includes foreclosed property, trade & sundry debtors and provision for contingencies

LoansComposition 3% 2% 13% 1% 4% 7% 3% 5% 7% 2% 53% ≈ 100%

YTDGrowth 12% 47% 17% 52% 6% 14% 2% 22% 7% 38% 1% 76% 5%

Loans by sector vs. industry


Industry (RM’ bil)

AmBank Group (RM’ bil)

Loans

Source : BNM, financial statements

LoansComposition 2% 1% 7% 1% 5% 7% 2% 7% 7% 2% 58% 1% 100%

YTDGrowth 4% 20% 9% 42% 2% 4% 5% 4% ≈ 4% 4% 10% 4%

AgricultureMining & Quarrying

ManufacturingElectricity,

Gas & WaterConstruction

Wholesale, Retail, Hotels &

Restaurant

Transport, Storage & Com

Finance, Insurance, & Biz Act

Real EstateEducation &

HealthHousehold Others Total Loans

2.9 2.5 13.7 0.74.7 7.8

2.7 6.07.7 2.2

56.3

0.1

107.2Mar-20

36.4 10.0 124.1

17.8 92.6 131.8 41.2 119.8 115.0

42.7

1,030.2

22.0

1,783.6

Mar-20

Divisional Performance


Disbursement Repayment

182 173

244

184

259

165188

161


Wholesale Banking

Coverage42%

Group Treasury & Markets

35%

Transaction Banking

23%

Wholesale Banking Coverage

34%

Group Treasury

& Markets

58%

Transaction Banking

8%Total Assets

RM88.3b

Wholesale Banking


Total Income (YoY Movement) and Total Assets by Line of Business PAT Trend (RM’ mil)

Wholesale Banking

Corporate Banking Loan Disbursement and Repayment

Total IncomeRM1,237 mil

2%

81%

QoQ Growth: 14%YoY Growth: 1%

8%

FY19: 783 FY20: 772

Wholesale Banking


Balance Sheet (RM’ mil/%)

Income Statement

Key Ratios

Wholesale Banking

YoY Growth 11% 25% 15% 7% 18% 73% 2% 5% 1%

RM' milNet Interest

IncomeNon-Interest

IncomeTotal Income Expenses PBP Impairment PBT Tax PAT

FY20 850 387 1,237 303 934 (60) 994 222 772

FY19 767 309 1,076 283 793 (224) 1,018 235 783

FY20 FY19 YoY Change

Gross Loans / Financing 35,596 33,519 6%

Gross Impaired Loans 644 675 4%

Customer Deposits 60,021 49,002 22%

CASA 12,966 11,411 14%


GIL Ratio 1.81% 2.01% 20bps

CTI 24.5% 26.3% >100bps

Loan Loss Coverage 35.4% 62.3% >100bps

ROA 1.00% 1.09% 9bps

FY20 PAT FY19 PAT Positive growth in FY20 Contraction in FY20

36.2 37.135.7

40.542.1


5.5%

5.0%4.9%

4.8%

5.3%

3.8%

3.6%3.4%

3.6%3.8%

2016 2017 2018 2019 1Q20

Trading Value Trading Volume

Investment Banking


Fund Management – AUM (RM’ bil)

League Table Market Share of Value and Volume Traded on Bursa (KLSE)1

Investment Banking

Market Share1 As At 31 Mar 2020(%)

Rank2

DCM (Overall MYR Bonds) 13.3% 2

Islamic Sukuk 17.9% 2

Unit Trust 8.2% 5

Stockbroking 5.3% 6

M&A 2.8% 3

Fund Raising 4.4% 8

1. Calendar Year data2. Comparing rank movement with 31 December 2019

Investment Banking



Income Statement

Key Ratios

Investment Banking

YoY Growth 16% 36% 26% 7% 73% 17% 65% 80% 61%

RM' milNet Interest

IncomeNon-Interest


FY20 40 265 305 187 119 (6) 124 26 98

FY19 48 195 242 174 69 (7) 75 15 61




Customer Deposits 833 744 12%

CASA 203 123 66%



CTI 61.1% 71.7% >100bps


ROA 4.28% 2.23% >100bps

Average AUM 52,972 47,311 12%


75

114

98

281

71

8692

66


Auto13%

Mortgage15%

Cards17%

Personal Financing2%

Deposits37%

Wealth6%

Retail SME9%

Others1%

Auto 22%

Mortgage62%

Cards 5%

Retail SME6%

Others5%

Total loansRM58.9 bil

Retail Banking


Total Income (YoY Movement) and Loans by Line of Business PAT Trend (RM’ mil)

Retail Banking

Total IncomeRM1,466 mil

QoQ Growth: 28%YoY Growth: 45%

8%

8%

6%

18%

22%

14%

7%

15%

FY19: 568 FY20: 315

675 702

866

677

799 818882

954


2,688 2,764 2,629 2,625 2,553 2,594 2,473 2,323

5351

44

38 37 36 36 35


Merchant volume (RM'mil)

Merchants in force ('000)

-

200

400

600

-

20

40

60

80


Car

ds

in c

ircu

lati

on

Ne

w c

ard

s is

sue

d

New cards issued ('000) Cards in circulation ('000)


Mortgage Auto Finance

Retail Banking


Credit Cards Mortgage and Auto Finance Quarterly Disbursements

Wealth Sales (RM’ mil) Merchant Volume

Retail Banking

QoQ Growth: 6% YoY Growth: 7%

QoQ Growth: 1% YoY Growth: 6%QoQ Growth: 8%YoY Growth: 18%

Mortgage QoQ Growth: 2%Mortgage YoY Growth: 19%Auto Finance QoQ Growth: 31%Auto Finance YoY Growth: 11%

FY20: 3,453

FY20: 9,943

FY19: 2,919

FY19: 10,706

Retail Banking



Income Statement

Key Ratios

Retail Banking

RM' milNet Interest

IncomeNon-Interest


FY20 1,223 243 1,466 865 601 187 414 99 315

FY19 1,190 259 1,449 841 608 (139) 747 179 568





CASA 13,002 11,448 14%



CTI 59.0% 58.0% 100bps


ROA 0.59% 1.01% 42bps

Average AUM 1,473 1,379 7%

YoY Growth 3% 6% 1% 3% 1% >100% 45% 45% 45%


AmBank Islamic

branches

ATMs & CRMs @ 7-Eleven

Electronicbanking centres

Internet &mobile banking

AmGeneral AmMetlifeAmInvestment

Bank

AmCardServices

MBC3

Distribution Channels


Retail Banking

Branches ATM CRM2 Regional Offices

Perlis 1 3 1

Kedah 6 19 6

Pulau Pinang 14 44 15 2

Perak 18 40 21 1

Selangor 36 179 41 3

Kuala Lumpur 23 79 25 3

Putrajaya 1 3 2

Negeri Sembilan 7 37 8

Melaka 6 26 8 1

Johor 21 69 30 1

Pahang 8 21 11 1

Terengganu 2 14 4

Kelantan 2 14 3

Sabah 9 35 13 1

Labuan 1 3 1

Sarawak 15 55 21 1

170 641 210 14

1. Data shown as at 31 March 2020 2. CRM – Cash Recycler Machine 3. MBC – Merchant Business Centres

Other Customer Touch Points

Population Density

< 100 persons per km2

101-500 persons per km2

501-1,000 persons per km2

1,001-1,500 persons per km2

> 1,501 persons per km2

2 202 170 AmOnline 29 branches4 counters

15 branches39 agencies

6 retail broking7 branches

15

1,439 1,804 1,881 2,052 2,099 2,176 2,382 3,092

3,085 3,292 3,498

3,776 3,808 4,017 3,907

4,090 4,524

5,096 5,379

5,827 5,907 6,193 6,290

7,182


CASA FD

3336

2927

29

19

27

50


Business Banking


Customer Deposits (RM’ mil)

Gross Loans (RM’ mil) PAT Trend (RM’ mil)

Business Banking

QoQ Growth: 81%YoY Growth: ≈YoY Growth: 13%

YoY Growth: 23%

FY19: 126 FY20: 126

5,934 6,364 6,833 7,523 7,607 7,898 8,264 8,607

2,060 2,219

2,222 2,441 2,462 2,527

2,585 2,640

7,994 8,583

9,055 9,964 10,069 10,425

10,85011,248


Non-trade Trade

Business Banking



Income Statement

Key Ratios

Business Banking

YoY Growth 14% 13% 13% 14% 13% 86% 1% 2% ≈

RM' milNet Interest

IncomeNon-Interest


FY20 277 89 366 145 221 57 164 38 126

FY19 244 79 323 127 196 31 165 39 126





CASA 3,092 2,052 51%



CTI 39.7% 39.4% 30bps


ROA 1.21% 1.47% 26bps



GIF Ratio 1.91% 1.95% 4bps

CTI 34.0% 38.0% >100bps

Financing Loss Coverage 74.2% 103.2% >100bps

ROA 0.83% 0.80% 3bps


Gross Financing 32,274 29,330 10%

Gross Impaired Financing 615 573 7%


CASA Deposits 10,578 8,969 18%

Islamic Banking



Income Statement

Key Ratios

Islamic Banking

RM' mil Total Income Expenses PBP Impairment PBT Tax & Zakat PATZ

FY20 909 309 600 155 445 93 352

FY19 838 319 519 97 422 98 324

YoY Growth 8% 3% 16% 60% 5% 5% 8%

FY20 PATZ FY19 PATZ Positive growth in FY20 Contraction in FY20

82% 81% 79% 79% 79%

18% 19%21% 21% 21%

1,567 1,5801,474

1,527 1,576


Motor Non-Motor

64% 63% 57% 58% 60%

96% 97%92% 92% 93%


Loss Ratio Combined Ratio

194192

282

242

260

180170

246

198

228


PBT PAT

General Insurance


Gross Premium Mix and Growth (RM’ mil)

Loss Ratio and Combined Ratio PBT and PAT (RM’ mil)

General Insurance

2. Includes write-back of prior year tax provisions

2

YoY PBT Growth: 8%YoY PAT Growth: 15%

YoY GWP Growth: 3%YoY Motor Growth: 4%

YoY Non-motor Growth: 2%

1

1. Includes motor PA

Insurance and Group Funding & Others


Income Statement – Group Funding & Others

Income Statement – Insurance (General, Life & Takaful)

Insurance & Others

RM'mil Total Income Expenses PBP Impairment PBT Tax PAT

FY20 584 338 246 (4) 250 32 218

FY19 602 349 253 (1) 254 44 210

RM'mil Total Income Expenses PBP Impairment PBT Tax PAT MI PATMI

FY20 268 270 (2) 162 (164) (88) (76) 112 (189)

FY19 230 357 (127) 37 (164) (18) (146) 98 (243)

YoY Growth 3% 3% 3% >100% 2% 27% 4%

YoY Growth 17% 24% 98% >100% ≈ >100% 47% 15% 22%


Shareholding structure


Corporate Structure

AMMB Holdings Berhad

23.8%1 AmCorp 13.0% EPF 10.0% PNB 9.1%2 Others 44.1%

100% AmBank (M) Berhad

100% AmInvestment Group Berhad

100% AmInvestment Bank Berhad


26% 26% 23% 26% 24%

1.ANZ: ANZ Funds Pty Ltd,a wholly owned subsidiary of Australia and New Zealand Banking Group Limited2.Based on amalgamation of shares held by funds managed by PNB3.MetLife owns 50% plus one share in AmMetLife Insurance Berhad, with the remaining shares held by AmBank Group, and AmBank Group owns 50% plus one share in AmMetLife Takaful Berhad, with the remaining

shares owned by MetLife

Foreign shareholding excluding ANZ

100% AmBank Islamic Berhad

100% MBF Cards (M’sia) Sdn Bhd

33.33% Bonuskad Loyalty Sdn Bhd

100% AMAB Holdings Sdn Bhd

51% AmGeneral Holdings Berhad

~50% AmMetLife Takaful Berhad3

~50% AmMetLife Insurance Berhad3

100% AmGeneral Insurance Berhad

49%

~50%

~50%

As at 31 March 2020

Retail Banking Wholesale Banking Islamic Banking General Insurance Life Assurance & Takaful

2.56 2.70 2.80 3.00 3.15 3.20 3.30 3.40 3.40 3.50 3.50 3.83 4.10 4.20 4.20 4.254.80

AFFIN CITI TA JP MACQ HLIB RHB UOB PIVB KAF MBB CIMB CLSA KEN MIDF ADBS NOMURA

Credit ratings, target price and recommendations


Ratings & Target Price

Credit Ratings

Target Price and Recommendations

Buy / Outperform / Overweight / AddAverage target priceSell / Underperform / Fully valued / Reduce / Underweight

Hold / Neutral / Market perform / Equalwt / In line Source Bloomberg, Research House Report as at 31 March 2020

P/EPS : 5.81 Closing Price: RM 3.00 Average TP : RM 3.52

P/BV : 0.49 Market Cap: RM 9.02 bil Buy : 8 (47%)

Hold : 6 (35%)

Sell : 3 (18%)

Ave. TP/ Ave. CP : 1.09x

FY20Ratings

AMMB AmBank (M) AmBank Islamic AmInvestment

RAM LT: AA2, ST: P1 Outlook: Stable

LT: AA2, ST: P1Outlook: Stable

LT: AA2, ST: P1 Outlook: Stable

LT: AA2, ST: P1 Outlook: Stable

S&P LT: BBB+, ST: A-2Outlook: Stable

Moody’s LT: A3, ST: P-2Outlook: StableBCA: baa2Adj BCA: baa2

RH1 RH2

Glossary & Disclaimer of warranty and limitation of liability


Glossary & Disclaimer

Reported PerformanceReported performance refers to the financial performance as reported in the audited financial statements and disclosed to the market

Growth DefinitionQoQ growth refers to Q4FY20 vs Q3FY20YoY / YTD growth refers to FY20 vs FY19

Disclaimer on rounding differencesNumbers may not add up due to rounding

Disclaimer on restatement of comparativesThe comparatives for business segments’ financials have been restated to reflect current business realignment

The information has been prepared by AMMB Holdings Berhad (AmBank Group or the Group) for information purpose and is believed to be correct at the time of presentation. No representationor warranty, express or implied, is given by or on behalf of AMMB Holdings as to the accuracy and completeness of the information or opinion contained in this presentation.

This presentation does not purport to contain all information that may be required to evaluate AmBank Group or its financial position and should not be construed as an offer or recommendationto buy or sell securities. Neither does this presentation to form the basis of, or be relied in any connection with, any contract, investment decision or commitment whatsoever.

Certain statements in this presentation may contain forward-looking statements. These forward-looking statements are based on current beliefs and expectations of the Group and are subject tosignificant risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements.

The term “AMMB Holdings” and “AmBank Group” denotes all Group companies within the AMMB Holdings Group and this Disclaimer of Warranty and Limitation of Liability policy applies to thefinancial institutions under AMMB Holdings.

For further information, visit www.ambankgroup.com;

or contact

Chelsea Cheng Chuan Shing

Head, Group Finance – Investor Relations

Tel : +603 2036 1425

Fax: +603 2070 8262

Email: [email protected] / [email protected]

Soh Yee Tyng

Vice President, Group Finance – Investor Relations

Tel : +603 2036 1435

Fax: +603 2070 8262

Email: [email protected]

http://www.ambankgroup.com/

mailto:[email protected]



AMMB Investor Presentation · 2020-06-29 · AmOnline customers: 298k -> 966k (3.2x) Monthly online...

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Transcript of AMMB Investor Presentation · 2020-06-29 · AmOnline customers: 298k -> 966k (3.2x) Monthly online...