The Group is one of the leading financial institutions in the country, with a strong culture of excellence. This is something that has been nurtured by its founder, Tan Sri Azman Hashim. Ever since taking over Arab-Malaysian Development Bank in 1982, Tan Sri Azman has instilled his own work ethic and entrepreneurial spirit into the bank, enabling it to overcome numerous challenges over the years and most recently, the current pandemic. In addition to having an almost intuitive ability to make the right decisions, it is Tan Sri Azman’s desire to support others through banking services that has entrenched the Group’s sustainability, and built it into the robust and resilient institution it is today. Not only has Tan Sri Azman contributed immensely to AmBank Group, he has also played a significant role in developing the nation – from the time he served Bank Negara Malaysia and through his leadership in various organisations such as the Asian Institute of Finance Berhad, Asian Institute of Chartered Bankers, Malaysian Investment Banking Association and Pacific Basin Economic Council, among others. It is, therefore, a little daunting to step into his shoes as the AmBank Group Chairman; but I do so whole-heartedly, taking a leaf from his achievements and to continue to build on his commitment to create value for everyone. 

Tan Sri Azman’s retirement comes at a time when the world is recovering from COVID-19. In Malaysia, achieving a vaccination rate of close to 80% prompted the government to gradually relax movement restrictions and re-open international borders. Supported by improved external trade, firm commodity prices and pickups in investment and public spending, the economy grew by 3.1% in 2021. Along with resumption of consumer and business activities, the banking sector also rebounded, with total loans growing 4.5% as compared with 3.4% in 2020. We are not completely out of the woods. At the time of writing, severe disruptions to the global supply chain brought about by the Ukraine war, expectation of interest rate hikes to counter inflationary pressures are adding volatilities to capital and equities markets. Current challenges notwithstanding, AmBank Group is on a steady path forward, driven by the Focus 8 strategy introduced in FY2021. This four-year programme has been designed to strengthen the organisation further and among other priorities, it will see us build our people’s capabilities, especially their digital skills, in order to fully leverage technologies to offer products and services that are relevant in the new normal post-COVID.

The Board, meanwhile, will continue to support Focus 8 by upholding high standards of corporate governance which includes a stronger environmental, social and governance (ESG) focus to deliver positive and sustainable outcomes for our stakeholders. I would like to thank all our stakeholders for their continued support. Rest assured that AmBank Group has your interests at heart and we will strive to create value for you. I look forward to working with the Board of Directors and the Senior Management team in the coming year to ensure that we stay true to our promise of Growing Trust, Connecting People.