KUALA LUMPUR (May 19): AmIslamic Bank Bhd has been renamed AmBank Islamic Bhd, as part of a move to harmonise the linkage of the Islamic brand under AMMB Holdings Bhd (AmBank Group).
Pursuant to this rebranding exercise, the logo colours have been unified with the AmBank Group brand colours of red and yellow.
“The main objective of this rebranding exercise while it realigns with the AmBank Group mother brand, will also enable the group to position its Islamic brand more prominently in the Islamic finance industry," said AmBank Group chairman Tan Sri Azman Hashim in a statement today.
"AmBank Islamic will continue to be customer centric in all the things that we do, while serving the diverse needs of our customers, be it investment, commercial, retail banking or insurance,” he added.
The rebranding will also enhance the streamlining of conventional and Islamic offerings by the AmBank Group, leveraging specifically on the brand equity of “AmBank”.
“The new AmBank Islamic brand is also in line with the group’s push to be among the leading financial institutions in Islamic finance and to concurrently make us the bank of choice in the Islamic banking industry,” said Azman.
AmBank Group (fundamental: 1.7; valuation: 3) shares closed the morning session 0.31% lower at RM6.38, with a market capitalisation of RM19.23 billion.
(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)