Latest news with #JamieLong
The Star
26-05-2025
- Business
- The Star
AmBank records RM2bil net profit in FY25, declares final div of 19.9c/share
KUALA LUMPUR: AMMB Holdings Bhd (AmBank) has closed its first financial year since the rollout of its Winning Together (WT29) strategy - marked by growth in both interest and fee income. The financial group posted a net profit of RM513.93mil in the final quarter ended March 31, 2025, up from RM476.54mil in the year-ago quarter. Revenue during the quarter under review rose to RM1.28bil from RM1.17bil in 4QFY24, while earnings per share climbed to 15.55 sen from 14.41 sen previously. The final-quarter result brought the full-year net profit to RM2bil and revenue to RM4.93bil, as compared to RM1.87bil and RM4.65bil in FY24. The group declared a final dividend of 19.9 sen per share for depositors on the record of depositors on June 19, 2025, payable on July 8, 2025. This brought AmBank's total dividend payout for FY25 to 30.2 sen per share, as compared to 22.6 sen in FY24. Commenting on the group's improved performance, AmBank CEO Jamie Long said its capital position remained solid while total cash dividend increased to RM1bil. "This reflects our confidence as we continue to build our businesses from a position of strength," he said in a statement. In the year under review, AmBank reported a net interest income (NII) of RM3.57bil, an 8% increase year-on-year (y-o-y), mainly owing to a 15bps net interest margin expansion to 1.94% as well as loans and financing growth of 3.5% y-o-y. Non-interest income grew 1.3% y-o-y to RM1.36bil due to higher fee income, partially offset by lower trading gains from group treasury and market. The group's overall expenses in FY25 grew 7.1% y-o-y to RM2.2bil due to higher personnel and computerisation costs. The cost-to-income ratio stood at 44.6%, up from RM44.2% in FY24. On balance sheet, the group's total loans, advances and financing grew 3.5% y-o-y to RM138.9bil while total customer deposits fell 0.6% y-o-y to RM141.5bil. Time deposits grew 1% y-o-y to RM90.5bil while current account savings account (Casa) decreased 3.3% y-o-y to RM51bil for a lower Casa mix of 36%.
Yahoo
18-05-2025
- Health
- Yahoo
Democrats say the fight for undocumented immigrant healthcare isn't over, despite budget deal
The Brief Last week, legislative leaders announced a bipartisan deal that would finally bring the legislature one-step closer to passing a two-year budget. Progressive Democrats immediately opposed the deal, as it comes at the cost of healthcare for undocumented immigrants. While 33 Democrats vowed not to support a bill ending the program, several party leaders said they have a plan to keep the program and still get the budget passed on time. ST. PAUL, Minn. (FOX 9) - Minnesota lawmakers are butting heads at the State Capitol as they try to pass a two-year budget. The backstory A program providing healthcare for undocumented Minnesotans took effect at the start of the year. The Department of Human Services has reported that it has already cost 32 percent more than projected, with almost triple the expected enrollment. Democrats have argued that providing preventative healthcare is more cost-effective than forcing individuals to visit the emergency room when they need care. Those opposed have vowed to vote 'no' on the measure, which could threaten a deal. What they're saying Rep. Cedrick Frazier told reporters Saturday that democrats were working on a plan that would ensure undocumented individuals continue to receive healthcare. "We're talking to folks behind the scenes and we're going to work things out," he said. DFL House Floor Leader Jamie Long told FOX 9 he anticipates the issue will be removed from the larger budget bill and voted on separately. "Its going to be interesting to see if the DFL caucuses are able to pull together and actually stick to the deal they made or be de-railed by their far left flank," said GOP House Floor Leader Harry Niska. What's next Lawmakers in St. Paul acknowledged that it is likely – if not inevitable – that they are headed for a special session. The legislative session is scheduled to end Monday at midnight, but as lawmakers continue to work through individual budget bills it is unlikely they will meet that deadline.
Yahoo
06-05-2025
- Business
- Yahoo
Budget blowup? Two reasons legislature may not finish timely budget
The Brief Disputes over education and healthcare funding in the tied House are threads threatening to unravel the Minnesota budget sweater. In the education bill, the GOP insists on ending unemployment benefits for seasonal school workers in 2028. Democrats reluctantly accepted the provision in committee, but backed out before the bill got to the floor for a vote of the full House. In the healthcare bill, the fight is over whether to continue allowing undocumented migrants to get coverage through MN Care. A lot more of them have signed up than expected, and the costs are about 32% more than expected to date. Republicans want to remove all of them from MN Care. ST. PAUL, Minn. (FOX 9) - A couple major disputes could derail the state legislature before the budget deadline two weeks from Monday. "This is the time when deals come together and where people are working hard to make that happen," said Floor Leader Jamie Long, (DFL-Minneapolis). Destroying the sweater? Leaders from both parties agree the education and healthcare budgets are the threads that could unravel the entire budget sweater. Democrats blew up an education agreement negotiated in committee last week because it included a provision ending unemployment benefits in 2028 for seasonal school workers. "This was the negotiated way to get out of that box," said Floor Leader Harry Niska, (R-Ramsey). "We need to move forward on funding education. We need to move forward getting a budget." Republicans argued the bus drivers, teacher's aides and others signed up for jobs that last nine months. And even though it doesn't save taxpayers a penny in the current budget, it was a GOP priority to end the benefits created during the DFL trifecta. "The three parameters that we had for this was the repeal of 2028 for the UI (unemployment insurance)," said Rep. Ron Kresha, (R-Little Falls), the House GOP education finance chair. "We had the $40 million target for READ Act and then a zero base budget." 'Protect the trifecta' Democrats say they're standing up for workers in education and in the healthcare battle, they're standing up for undocumented immigrants and the hospital system. Republicans want to exclude noncitizens from MN Care after 20,197 people enrolled by April 24, nearly three times the expected final number. So the costs could triple, but doctors, insurers, and hospital leaders all say the coverage can save taxpayers money by keeping people in preventive care instead of emergency rooms. And DFL leaders say it has no immediate effect on the bottom line to wrap up their work. "All we need to do right now is get a budget," said Rep. Long. "A lot of these provisions are extraneous - they're policy provisions, the GOP trying to leverage funding our government to get additional concessions - and so that I think is the real threat for us being able to end session on time." Timeline May 19 is the end of the session, but June 30 is the deadline to avoid a government shutdown, so if they need a special session, there's a little wiggle room.
