AMMB Holdings Bhd's net profit for the nine months of financial year ending March 31, 2011 rose by 34 per cent to RM1.026 billion, surpassing the full FY2010 earnings of RM1.01 billion.

In a statement today, AMMB said this would translate into return on equity of 13.9 per cent and an annualised earnings per share of 45.3 sen.

Revenue for the nine months of financial year ending March 31,2011 rose to RM5.302 billion from RM4.869 billion previously.

'The group's strong results were attributable to higher profit across most divisions as well as lower individual and collective impairments,' it said.

Its group chief executive/managing director, Cheah Tek Kuang, said the better performance was achieved by staying focused on its strategies of profitable and sustainable growth and income diversification.

'We remain on course to achieving faster non-interest income growth, with higher contributions from foreign exchange, derivatives and assurance businesses,' he said. -- BERNAMA