AMMB Holdings' search for new MD ongoing

KUALA LUMPUR: AMMB Holdings Bhd has reiterated that its search for a new group managing director is still ongoing, but it is business as usual for the group.
"The search is done by the committee at the board level. It's still progressing," acting group managing director Datuk Mohamed Azmi Mahmood told a press conference after announcing AMMB's financial results for the full year ended March 31, 2015 (FY15) here today.
Azmi was appointed acting group managing director effective April 2, taking over from Ashok Ramamurthy, whose contract as group managing director ended on April 1.
For FY15, its net profit jumped 8% to RM1.92 billion from RM1.78 billion a year ago, lifted by non-interest income and lower allowances.