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Fy2019 Results Investor Presentation FY2019 RESULTS INVESTOR PRESENTATION 28 MAY 2019 GCEO PRESENTATION Dato’ Sulaiman Mohd Tahir 3 FY19 Financial snapshot 4 FY19 Recap 5 FY19 in review 6 Outlook for 2019 24 FY20 Financial Agenda Financial FY19 Financial snapshot Snapshot FY19 Financials (YoY) FY19 Executing on strategic priorities 3,922 • Underlying income unchanged YoY, with NII growing Income 1% FY18: 3,979 4% 2,131 Expenses 12% • Cost actions taken allows for reinvestments FY18: 2,421 1,791 PBP 15% • Operating leverage improved, positive JAWS of 11% Profitability FY18: 1,558 (RM’ mil) (Recovery) / (304) • Resolved certain large NPL and completed the retail >100% Impairment FY18: 16 debt sale. LLC1 114.0%, GIL ratio 1.59% 1,505 PATMI 33% • Strong PATMI growth YoY FY18: 1,132 8.8% ROE 180bps • Improved returns, RoTE circa 11% FY18: 7.0% 101.8 Gross Loans 6% • Good loans growth, tougher 2HFY19 Assets & FY18: 96.3 Liabilities 106.9 (RM’ bil) Deposits 12% • Higher liquidity buffers FY18: 95.8 11.9% FHC CET12 80 bps • Capital accretive growth, credit ratings upgrades FY18: 11.1% Capital & 15.0 sen Final Dividend 5.0 sen • 33% annual dividend growth, 40% payout Dividend FY18: 10.0 sen 20.0 sen Dividend per share 5.0 sen FY18: 15.0 sen 1. Includes regulatory reserve 2. After deducting proposed dividends 3 FY2019 Results – Investor Presentation Strategic FY19 Recap Action Targeted outcomes FY19 priorities Key Metrics Scorecards • Grow income in Top 4 • NII growth = 4% Revenue growth products & segments • Revenue growth • Total revenue flat • Achieving better assets • NIM “Continue to build yields • NIM = 1.89% (-11bps) income momentum” • CASA growth • Grow CASA • CASA growth = 22% BET300 • CTI = 54.3% (-650bps) • Cost discipline • CTI • Positive JAWs = 11% “To achieve CTI of 55% • Pacing investments • Positive JAWs • BET savings: RM112m by FY19 & cost savings of RM300m over 3 years” • Investment P&L: RM47m • Retail debt sale gain = RM285m Capital accretive • CET1 ratio • FHC CET11 = 11.9% growth • Capital release options (+80bps) • RWA growth “To strengthen our • RWA efficiencies • RWA/Total Assets = 65% capital position and • ROE improvement deliver sustainable (-720bps) dividend payout” • ROE at 8.8% (+180bps) 1. After deducting proposed dividends 4 FY2019 Results – Investor Presentation AmBank FY19 in review Group “Strategy execution improved operating New leverage and strengthened our fundamentals” AmOnline Digi’s vcash QR code 01 Revenue growth Launch of • Broad-based loans growth AMY • Deepened cash management & transaction banking capabilities • Enhanced mobile & digital solutions 02 BET300 Online PRS • Strategic partnerships & collaborations fund • Exerting cost discipline • Pacing investments • Delivered RM112m of cost savings AmEquities initiatives in FY19 DIGITALISATION 03 Capital and liquidity PayNet • FHC CET1 up 80bps • Liquidity metrics above regulatory requirements WeChat Pay • Improved funding resiliency • Credit ratings upgraded 5 FY2019 Results – Investor Presentation Market Outlook for 2019 Outlook Malaysia Banking Sector GDP growth: 4.5% - 4.7% Loans growth: 4.6% Inflation: 1.0% Asset quality stable Export growth: 2.0% OPR stable at 3.00% USD/MYR outlook: Resilient liquidity & capital 4.08 – 4.10 by end 2019 positions 6 FY2019 Results – Investor Presentation GCFO Presentation Jamie Ling 8-22 Financial overview 23 Guidance & Expectations Financial Q4FY19 Financial overview Overview 1 Q4FY19 Results (QoQ) • Income marginally up at RM955 mil - NII lower at RM629 mil (-5%), short quarter and EIR adjustment - NoII (+14%) picked up from stronger financial markets trading income • NIM of 1.78% • Expenses higher at RM600 mil from investments and performance payout • Net recovery of RM270 mil, underpinned by retail debt sale gain (RM285m) and writeback of corporate NPL • PATMI up 31% to RM460 mil • ROE of 10.7% Asset Quality 2 • GIL improved to 1.59% (Q3FY19: 1.62%) • LLC1 at 114.0% (Q3FY19: 116.8%) Capital & Funding 3 • Adequate capitalisation, FHC CET12 11.9% • FHC LCR of 193% • NSFR3: - AmBank (M) Berhad 116% - AmBank Islamic Berhad 115% - AmInvestment Bank Berhad 128% 1. Includes regulatory reserve 2. After deducting proposed dividends 3. Under observation period 8 FY2019 Results – Investor Presentation Financial FY19 Performance summary – P&L Overview P&L (RM’ mil) Q4FY19 Q3FY19 QoQ Change FY19 FY18 YoY Change Total Income 955 947 1% 3,922 3,979 1% Expenses 600 513 17% 2,131 2,421 12% PBP 355 434 18% 1,791 1,558 15% Net (Recovery) / (270) (51) >100% (304) 16 >100% Impairment PATMI 460 350 31% 1,505 1,132 33% Financial Indicators Q4FY19 Q3FY19 QoQ Change FY19 FY18 YoY Change CTI 62.8% 54.1% 870bps 54.3% 60.8% 650bps NIM 1.78% 1.88% 10bps 1.89% 2.00% 11bps ROE 10.7% 8.1% 260bps 8.8% 7.0% 180bps EPS1 15.28 sen 11.63 sen 3.65 sen 50.03 sen 37.64 sen 12.39 sen 1. Basic Earnings Per Share 9 FY2019 Results – Investor Presentation Financial FY19 Performance summary – balance sheet Overview Balance Sheet (RM’ bil) Q4FY19 Q3FY19 QoQ Change FY19 FY18 YTD Change Gross Loans 101.8 100.4 1% 101.8 96.3 6% GIL 1.59% 1.62% 3bps 1.59% 1.70% 11bps LLC1 114.0% 116.8% 280bps 114.0% 100.5% 1,350bps Customer Deposits 106.9 106.8 ≈ 106.9 95.8 12% CASA 24.9 22.1 13% 24.9 20.4 22% Capital Indicators2 12.0% Q4FY19 Q3FY19 QoQ Change FY19 FY18 YTD Change FHC CET1 11.9% 12.0% 10bps 11.9% 11.1% 80bps FHC Tier 1 11.9% 12.0% 10bps 11.9% 11.1% 80bps FHC Total Capital 15.4% 15.7% 30bps 15.4% 13.6% 180bps 1. Includes regulatory reserves 2. After deducting proposed dividends 10 FY2019 Results – Investor Presentation Income Income at similar level to last year Business Segments Q4FY19 Q3FY19 QoQ Change FY19 FY18 YoY Change (RM’ mil) Wholesale Banking 284 247 15% 1,056 1,053 ≈ Investment Banking 62 56 12% 242 321 25% Retail Banking 342 385 11% 1,453 1,487 2% Business Banking 86 83 4% 322 259 25% Group Funding & Others 52 55 5% 247 241 2% Total Income – Banking 826 826 - 3,320 3,361 1% General Insurance 128 127 1% 589 629 6% 129 121 7% 602 618 3% Life Insurance 1 (6) >100% 13 (11) >100% Total Income 955 947 1% 3,922 3,979 1% RM’ mil Normalised Underlying 971 3,598 3,892 3,900 3,979 3,766 3,922 87 22 1683 1,071 1 982 14 1,014 1,007 1,342 967 959 1 947 22 955 1,474 1,495 422 311 428 372 359 369 356 342 286 326 2,580 2,292 2,484 613 611 617 643 642 648 661 629 Q1FY18 Q2FY18 Q3FY18 Q4FY18 Q1FY19 Q2FY19 Q3FY19 Q4FY19 FY17 FY18 FY19 Net Interest Income Non-interest Income 1. Gain on disposal of foreclosed properties 2. Investment share revaluation 3. Fixed income trading gain and gain on disposal of foreclosed properties 11 FY2019 Results – Investor Presentation PBP & Better operating leverage, profit before provision up 15% PATMI Business Segments Q4FY19 Q3FY19 QoQ Change FY19 FY18 YoY Change (RM’ mil) Wholesale Banking 210 177 19% 777 767 1% Investment Banking 18 13 43% 69 124 45% Retail Banking 120 181 33% 612 493 24% Business Banking 53 54 2% 201 145 39% Group Funding & Others (85) (23) >100% (121) (242) 50% PBP – Banking 316 402 21% 1,538 1,287 20% General Insurance 38 38 - 240 282 15% 39 32 22% 253 271 7% Life Insurance 1 (6) >100% 13 (11) >100% PBP 355 434 18% 1,791 1,558 15% 10.7% 8.5% 7.0% 8.8% 8.1% 8.1% 8.3% 8.2% 8.1% 6.3% 1,791 5.3% 1,605 RM’ mil 1,558 501 502 1,505 460 1,325 429 434 404 383 1,132 342 348 348 350 355 328 332 253 219 Q1FY18 Q2FY18 Q3FY18 Q4FY18 Q1FY19 Q2FY19 Q3FY19 Q4FY19 FY17 FY18 FY19 PBP PATMI ROE 12 FY2019 Results – Investor Presentation Group Profit underpinned by good NII growth, cost actions and recoveries P&L YoY Growth 4% 10% 1% 12% 15% >100% 36% 70% 28% 20% 33% 320 24 1,505 290 203 22% 1,132 96 24% 153 NIM: NoII%: CTI: GIL: Effective Tax Rate: 78% 1.89% 34.2% 54.3% 1.59% 23.4% 76% Net Interest Non-Interest Total (Recovery) / RM’ mil Expenses PBP PBT Tax & Zakat PAT MI PATMI Income Income Income Impairment FY19 2,580 1,342 3,922 2,131 1,791 (304) 2,095 492 1,603 98 1,505 FY18 2,484 1,495 3,979 2,421 1,558 16 1,543 289 1,254 122 1,132 Positive growth in FY19 Contraction in FY19 Conventional PATMI Islamic PATZ 13 FY2019 Results – Investor Presentation NIM Higher liquidity surplus and lending rate pressures in Retail Net Interest Margin (NIM) Movement Assets Deposits 2.8 0.3 0.9 5.2 199.6 1.4 0.1 10.6 0.9 3.2 189.4 FY18 Wholesale Investment Retail Business Others Asset volume Interbank / Deposits Deposits FY19 Banking Banking Banking Banking & mix Group rates mix Funding Positive growth in FY19 Contraction in FY19 14 FY2019 Results – Investor Presentation NoII Soft market conditions weighed on IB and investment income YoY Growth 6% 19% 30% 5% 9% 24% 7% >100% >100% 10% Normalised items 65 9 42 23 32 29 16 23 82 4 17 36 1,495 1,342 Investment Group Investment Group Foreclosed Corporate Wealth Business General Life RM’ mil Share Treasury Banking & Other Retail Funding & NoII Properties Banking Mgmt Banking Insurance Insurance Revaluation & Markets Fund Mgmt Others FY19 - 22 158 120 195 88 171 79 456 12 41 1,342 FY18 42 45 149 149 277 92 188 63 492 (11) 9 1,495 Positive growth in FY19 Contraction in FY19 FY18 NoII FY19 NoII 15 FY2019 Results – Investor Presentation Expenses Disciplined on costs Business Segments Q4FY19 Q3FY19 QoQ Change FY19 FY18 YoY Change (RM’ mil) Wholesale Banking 74 70 5% 279 286 2% Investment Banking 44 43 3% 174 197 12% Retail Banking 221 204 8% 841 994 15% Business Banking 33 29 15% 121 114 6% Group Funding & Others 137 77 76% 367 483 24% Expenses – Banking 509 423 20% 1,782 2,074 14% Insurance 91 90 1% 349 347 1% (General, life, takaful) Expenses 600 513 17% 2,131 2,421 12% Expense Growth Driver Expense and CTI Trend 68.0% 62.8% RM’ mil 60.8% 58.2% 60.1% 57.4% 56.3% 54.1% 54.3% 50.6% 50.2% 2,421 471 193 2,160 2,131 1462 RM’ mil 25 728 193 35 2,421 577 1462 600 34 553 563 1 513 506 513 201 191 8 43 10 2,131 FY18 Infrequent Union back Salary Compliance Admin Others FY19 Q1FY18 Q2FY18 Q3FY18 Q4FY18 Q1FY19 Q2FY19 Q3FY19 Q4FY19 FY17 FY18 FY19 items pay & & Governance General 1.
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