AMMB Sustainability Report 2023

S U STA IN A B ILITY R E P O RT 2023
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Leadership Overview of Sustainability @ Sustainability Sustainability Core Foundation Appendix
Commitment AmBank Group AmBank Governance Highlights Sustainability Sustainability
Matters Matters
INSIDE THIS REPORT

ABOUT THIS REPORT SUSTAINABILITY GOVERNANCE
32 nd
4 Reporting Period 22 Functions & Decision-Making
Annual
4 Reporting Boundary 24 Sustainability Control Framework
General Meeting
4 Principles of Reporting 26 Key Sustainability Policies & Guidelines
31
4 Reporting Standards Associations & Memberships
Broadcast Venue
5 Independent Assurance
5 Point of Contact Board Room, 26th Floor
32 SUSTAINABILITY HIGHLIGHTS Bangunan AmBank Group
6 LEADERSHIP COMMITMENT Jalan Raja Chulan 50200
CORE SUSTAINABILITY MATTERS Kuala Lumpur Malaysia
OVERVIEW OF AmBank Group 33 Customer Satisfaction
36 Mitigating ESG & Climate Related Risks
42 Financial Inclusion Wednesday, 23 August 2023
11 2023 Key Highlights
12 Where We Operate 45 Responsible Consumption
13 What We Do: Core Business Segments 55 Responsible Procurement 10.00 a.m.
14 Corporate Structure 57 Community Empowerment
SUSTAINABILITY @ AmBank FOUNDATION SUSTAINABILITY

MATTERS
16 Sustainability Framework
17 UN Sustainable Development Goals 61 Digital Transformation & Data Security
18 Stakeholder Engagement on Sustainability 64 Employee Well-being and Development
19 Sustainability Themes and Sustainability Matters 73 Anti-Money Laundering & Anti-Corruption
Appendix
78 Sustainability Performance Data

97 Statement of Independent Assurance
100 GRI Content Index
AMMB
HOLDINGS
BERHAD
SUSTAINABILITY REPORT
2023
3
BASIS OF THIS REPORT
The Sustainability Report of AMMB Holdings Berhad (also known as the AmBank Group Sustainability Report 2023,
this Sustainability Report or this Report) showcases the organisation’s sustainability achievements and outcomes.
Through this Report, we highlight how we are contributing to the betterment of society by generating positive
environmental and social outcomes. This Sustainability Report complements our Integrated Annual Report 2023,
which outlines our stakeholder-focused approach to value creation and balancing the interests of all our stakeholders.
AMMB Holdings Berhad (AMMB or the Company) is a public company listed on the Main Market of Bursa Malaysia Securities Berhad (Bursa Malaysia). This Report covers
AMMB and its key subsidiary companies (AmBank Group or the Group or we).
REPORTING PERIOD REPORTING STANDARDS
This Sustainability Report includes data and information from 1 April 2022 to 31 March 2023 (FY2023) unless This Report has been prepared with reference to the
stated otherwise. We endeavour to present a year-on-year sustainability progress by providing data from the following local and international standards and guidelines:
past three years whenever possible. Our previous Sustainability Report for FY2022 was published to cover the
• Global Reporting Initiative (GRI) Standards
period from 1 April 2021 to 31 March 2022.
• Bursa Malaysia Sustainability Reporting Guide
• The ACCA Malaysia Sustainability Reporting
REPORTING BOUNDARIES Guidelines for Malaysian Companies
This Sustainability Report focuses on data related to our three main subsidiaries: AmBank (M) Berhad; AmBank The GRI content index for the Report is shown on
Islamic Berhad; and AmInvestment Bank Berhad (collectively referred to as AmBank Group or the Group or pages 100-104.
we). These subsidiaries make up more than 96.0% of AmBank Group’s overall assets, making them the primary
contributors to our sustainability impact.
This Sustainability Report charts the progress of the nine Sustainability Matters that generate long-term value
for our stakeholders and ensure our business remains sustainable. Throughout this Sustainability Report, the
impacts of our sustainability initiatives are labelled with the following icons:
Responsible Conscious Positive

Banking Self-Conduct Societal Impact
PRINCIPLES OF REPORTING
In our commitment to producing a credible and transparent sustainability report, we applied the following GRI
Standards Reporting Principles:
• Accuracy: Reporting information that is correct and sufficiently detailed to allow an assessment of the
organisation’s impacts
• Balance: Reporting information in an unbiased way and providing a fair representation of the organisation’s
negative and positive impacts
• Clarity: Presenting information in a way that is accessible and understandable
• Comparability: Selecting, compiling, and reporting information consistently to enable an analysis of
changes in the organisation’s impacts over time and an analysis of these impacts relative to those of other
organisations
• Completeness: Providing sufficient information to enable an assessment of the organisation’s impacts
during the reporting period
• Sustainability Context: Reporting information about its impacts in the wider context of sustainable
development
• Timeliness: Reporting information on a regular schedule and making it available in time for information users
to make decisions
• Verifiability: Gathering, recording, compiling, and analysing information in such a way that the information
can be examined to establish its quality
4 SUSTAINABILITY REPORT 2023

Matters Matters
BASIS OF THIS REPORT
Integrated Annual Report Financial Report
CONTENT CONTENT
Provides a thorough evaluation of AmBank Provides a comprehensive overview of the
Group’s progress, including its Corporate Financial Statements and Audited Annual
Governance Statements, milestones and Financial Results for FY2023, providing
accomplishments, and illustrates how in-depth reporting and also outlines our
we generate value while catering for prospects for the upcoming financial year,
the interests of all stakeholders during FY2024.
the financial year ended 31 March 2023
(FY2023). Additionally, it outlines our FRAMEWORKS & GUIDELINES
future prospects for the financial year
• MCCG 2021
ending 31 March 2024 (FY2024).
• Bursa Malaysia’s MMLR
• Corporate Governance Guide (4th
FRAMEWORKS & GUIDELINES
Edition) issued by Bursa Malaysia and
• International Integrated Reporting
Securities Commission Malaysia
Framework (IIRF) of the International
• Companies Act 2016
Integrated Reporting Council (IIRC)
• Bursa Malaysia Securities Berhad Main • Bank Negara Malaysia (BNM) Policy
Market Listing Requirements (MMLR) Documents and Guidelines
• Corporate Governance Guide (4th • Malaysian Financial Reporting
Edition) issued by Bursa Malaysia and Standards (MFRS)
Securities Commission Malaysia • International Financial Reporting
• Companies Act 2016 Standards (IFRS)
• Malaysia Code on Corporate • Financial Services Act (FSA) 2013
Governance (MCCG) 2021 • Islamic Financial Services Act (IFSA)
• Global Reporting Initiative (GRI) 2013
Standards
INDEPENDENT ASSURANCE
SIRIM QAS International Sdn. Bhd. has provided independent assurance on Sustainability
Governance, Responsible Consumption, Responsible Procurement and Employee Well-being
and Development, including Occupational Safety and Health.
The assurance report is shown on pages 97-99.
POINT OF CONTACT
Readers are welcome to reach out to us with feedback, comments and enquiries to help us
enhance the quality of our sustainability reporting.
Please contact our Sustainability Department at [email protected]
5
LEADERSHIP COMMITMENT
Dear Stakeholders,
As a responsible financial
institution, AmBank Group is not
merely an observer in the field
of sustainability, but an active
advocate and participant. At our
core, we embrace sustainability as
an inseparable component of our
strategic approach, integrating
Environmental, Social and
Governance (ESG) considerations.
DATO’ SULAIMAN MOHD TAHIR
Group Chief Executive Officer

Matters Matters
Our Group’s Sustainability Framework shapes our with our move towards sustainable financing practices and the goal
initiatives around three vital themes – Responsible of achieving Net Zero by 2050. Further to that, we support energy
Banking, Conscious Self-Conduct and Positive transition by offering financing to electric vehicles and solar panel
Societal Impact. These themes mirror our manufacturers. In addition, we work closely with strategic business
support towards the United Nations Sustainable partners to provide green financing solutions to customers. During
Development Goals (UN SDGs) and the overarching
objectives of Shariah (Maqasid Shariah).
the year, we partnered with Sime Darby Property Berhad to offer
homebuyers a sustainable financing option online. In FY2023, RM2.6 bil
in loans/ financing under
we disbursed RM312 million of retail green loans/ financing which
To fulfil our sustainability commitments, we affordable home and
endeavour to minimise our environmental footprint, consist of RM214 million in mortgage and RM98 million in electric
auto financing schemes.
uphold good governance and business practices vehicles.
and contribute to society by empowering our
communities. Moreover, we are bolstering our Navigating the path towards sustainability can be arduous,
climate risk management capabilities including by especially for small and medium enterprises (SMEs). Recognising
aligning the reporting of our climate-related matters this, AmBank Group has inked a memorandum of understanding
with the recommendations of the Task Force on (MOU) with Pantas Software Sdn Bhd, on the Greening Value Chain
Climate-related Financial Disclosures (TCFD). (GVC) Programme. Our role as the official banking partner of GVC
allows us to provide relevant sustainability-linked financing products
The achievements and challenges of our
to help SMEs bolster climate resilience, reduce greenhouse gas
sustainability journey are encapsulated in Bolstered our
emissions (GHG) and contribute towards a more sustainable future.
this Sustainability Report 2023, reflecting our
We would also embark upon capacity-building efforts to support
climate risk
commitment to sustainable value creation. management
our SME customers in their respective journey towards low carbon
practices. capabilities
ACCELERATING THE JOURNEY TOWARDS A
including by
LOW-CARBON ECONOMY
aligning the
AmBank Group is cognisant of the profound effects
reporting of our
of climate change on our operations and stakeholder climate-related
interests. In response, we are enhancing our matters with the
climate risk management competencies, while recommendations
facilitating our clients’ transition towards a low- of the Task
carbon economy. Force on Climate-
related Financial
We have enhanced our ESG risk assessment of Disclosures
selected non-individual customers to include (TCFD).
climate change risk assessment and covers eight
sector-specific checklists. Since FY2022, we have
expanded our exclusion list where we have ceased
to refinance or provide new or additional loans/
financing for coal-fired plants or coal-dependent
businesses unless critical for national energy
security.
Where customers are categorised with a high ESG-

RG, our strategy is to engage and understand their
mitigation strategies against ESG risks. This aligns
7
BUILDING CLIMATE RESILIENCE advance towards Net Zero by 2050, sustainability principles
will become an even more intrinsic part of the Group’s culture.
A keystone of our strategy to reduce our carbon footprint is
the emphasis on top-driven energy management systems SHAPING A HIGH-PERFORMING WORKFORCE
and conservation measures. The Energy Management Forum,
chaired by the Group Chief Financial Officer, oversees the At AmBank, we recognise that our employees form the very
Group’s energy management. Through our sustained climate foundation of our organisation and play a crucial role in
action, we have successfully offset over 13,000 mtCO2e. This ensuring our sustainability. To prioritise their well-being, we
marks a 93% reduction after carbon offset compared to our strive to create a secure and inclusive work environment while
Achieved FY2019 levels. This commitment to energy efficiency has providing ample learning and development opportunities to
93% earned us the Energy Management Gold Standard (EMGS)

Certification, making us the first financial institution in Malaysia
cultivate an adaptable and future-ready workforce.
reduction after to achieve this recognition. To strengthen the capabilities of our team, we have implemented
carbon offset numerous collaborative programmes, focusing on enhancing
compared to our In FY2023, we fortified our carbon offset initiatives by crucial areas such as leadership acumen and digital adaptability.
FY2019 levels. participating in Bursa Malaysia’s inaugural carbon credit In August 2022, we established the AmBank Digital Academy,
auction. By acquiring carbon credits from environmentally which enabled more than 3,000 employees to participate in
conscious projects, we position ourselves strategically to meet digital competency programmes. These programmes, co-
our long-term targets and expedite our journey towards Net developed with ten strategic partners, encompass a broad
Zero by 2050. spectrum of areas including cybersecurity, data analytics and
tech talk, among others, and are also available to our recent
Becoming a climate-resilient organisation necessitates not just graduate hires. We also partnered with the Asian Banking
First financial
operational changes, but also fostering a climate-conscious School (ABD) and Asian Institute of Chartered Bankers (AICB)
institution in culture within our team. To this end, we have emphasised to design and execute joint training programmes, aimed at
Malaysia to the importance of sustainability education and awareness expanding the industry knowledge of our employees, thereby
receive the Energy across our workforce, strengthening our training programmes fostering increased job satisfaction and enhancing talent
Management Gold to include compulsory sustainability-related training. As we retention.
Standard (EMGS)
Certification.

Matters Matters
As a caring employer, we understand that employee well-being extends beyond

professional upskilling. We provide a comprehensive suite of benefits including
a Hybrid Working Arrangement that allows for flexible working hours, extended
parental leave, improved medical coverage and shortened working hours for
expectant mothers. Additionally, we champion healthy living by coordinating
health and wellness campaigns, providing informative health talks and setting
up a social and sports club. These initiatives aim to enhance their well-being and
mental health, ultimately boosting productivity. Our sustained efforts have been
rewarded with an Employee Engagement Index of 86%, a near 10% increase
from FY2022, highlighting the positive impact of our initiatives. We remain
committed to continual engagement with our employees to meet their needs
and increase their satisfaction.
EMPOWERING OUR COMMUNITIES
At AmBank, we deeply appreciate the vital role we play in driving social and
economic growth in our communities. Our commitment goes beyond banking Beyond our dedicated CSR programmes, we are committed to enhancing
services, extending to the empowerment of our communities through impactful financial inclusivity for the Bottom 40 (B40) income group. In FY2023, we
corporate social responsibility (CSR) initiatives that foster long-lasting positive disbursed over RM2.6 billion in loans/ financing under affordable home and
change. To streamline our efforts, we have initiated AmCare, an engagement auto financing schemes. We also cater to the financial needs of underserved
platform that encourages our employees to participate in volunteer activities businesses, particularly SMEs, by providing financial access and supporting
and strengthen ties with the communities we serve. Our CSR programmes capacity building initiatives. As of March 2023, our SME loans/ financing
focus on enhancing financial and English literacy, as well as providing essential outstanding stood at RM26.7 billion.
financial aid to those who need it most.
ACKNOWLEDGEMENTS
As a member of the Financial Industry Collective Outreach (FINCO), we actively
participate in their programmes aimed at equipping underprivileged children Our accomplishments are a testament to the collective endeavour of numerous
and youth with the guidance and educational resources needed to realise stakeholders. We are deeply grateful for the support and guidance we have
their aspirations. AmBank had successfully volunteered 90 times in FINCO received from our regulators and esteemed members of our Board. To our
programmes in 2022. Our involvement spans various initiatives, including career dedicated AmBankers, we extend our sincere appreciation for your unwavering
fairs, workshops, contests and financial literacy sessions. Furthermore, we dedication and commitment to our sustainability endeavours.
collaborate with strategic partners to organise literacy programmes and provide
support to vulnerable communities through food and financial contributions. On behalf of my team, I extend a heartfelt thank you to our valued business
partners and customers, your trust in us fuels our commitment to sustainability.
As a testament to our dedication to FINCO, AmBank Group was honoured with
the “Overall Financial Institution with the Most Volunteers (Banking)” award at As we journey into FY2024, we are eager to continue our journey towards
the FINCO Annual Awards Ceremony 2022. We are also proud to report that one creating a sustainable future for us all.
of our employees, Mr Darald Divesh a/l Gunasekaran from Group Information
Technology, was recognised as the “Most Engaging Volunteer (Banking)” by
FINCO. These awards truly reflect the commitment and capability shown by DATO’ SULAIMAN MOHD TAHIR
AmBank in being a responsible and caring financial institution. Group Chief Executive Officer
9
OVERVIEW OF AmBank Group
OUR VISION PURPOSE

• We are not transactional. We will continue to help our • Externally, we focus on
GROWING We focus on deepening customers, both individuals helping our customers to
TRUST, relationships by acting as and businesses, with financial become winners. Internally,
CONNECTING advisors and long-term and non-financial assistance we emphasise performance,
PEOPLE partners to our customers. to weather through the teamwork and collaboration
We earn the trust of our uncertainties of the COVID-19 to achieve our goals.
customers by being pandemic.
professional, reliable and • We leverage opportunities
efficient, and providing the • We are a holistic, integrated to revolutionise our business
best possible service. multi-industry financial and to help our customers
services group. We go grow and win together
• We believe in supporting the beyond traditional banking through our Focus 8 strategy.
growth of our customers, our by evolving into a trusted
people, and our business. We financial solutions provider.
empower our stakeholders
to achieve their aspirations.
WHO WE ARE
AmBank Group is a leading

financial services group with
over 40 years of expertise
in supporting the economic
development of Malaysia.
We have over three million

customers and employ over
8,000 employees. We are the
sixth-largest banking group by
assets in Malaysia, with a market
capitalisation of more than RM12
billion as at 31 March 2023.

Matters Matters
2023 KEY HIGHLIGHTS
FINANCIAL
HIGHLIGHTS
Cost-To-Income Ratio Return On Equity (ROE) Current Account Savings
44.3% 10% Account (CASA) Growth
13.2%
Total income
RM4,737.7
million
Profit After Tax And Minority Interests Gross Loans, Advances And Financing Liquidity Coverage Ratio
(PATMI)
RM1,735.2 RM130.2 (LCR)
149.2%
billion
million
Common Equity Tier 1 Deposits From Customers

(CET1) Capital Ratio
12.5% RM130.3
Earnings Per Share billion
RM52.4
sen
Shareholders’ equity
RM18.1
billion Total Assets
RM197.5
billion
11
WHERE WE OPERATE
We are one of Malaysia’s leading financial services group, with over 40 years of expertise in supporting
the economic development of Malaysia. We provide services in wholesale banking, business banking, retail
banking, investment banking and related financial services, which include Islamic banking, general insurance,
life insurance, family takaful, stockbroking, futures broking, investment advisory and asset management
services in unit trusts and real estate investment trusts.
1
Branches ATMs CRMs CQMs

1 Perlis 1 3 1 1
2 2 Kedah 5 17 10 5
3 Pulau Pinang 14 38 17 16
4 Perak 18 42 24 19
5 Selangor 35 167 53 47
3 13
6 Kuala Lumpur 23 70 30 34
12 7 Putrajaya 1 4 2 1
8 Negeri Sembilan 7 40 11 7
4
9 Melaka 6 26 10 8
10 Johor 21 69 34 22
11 Pahang 8 20 13 6
12 Terengganu 2 11 6 2
13 Kelantan 2 13 4 3
11 14 Sabah 9 33 13 9
5 15 Labuan 1 3 1 1
16 Sarawak 15 59 25 15
7 6
TOTAL 168 615 254 196
* Cheque Deposit Machine (CQM)
8
Cash Recycler Machine (CRM)
10
15 14
<100 people per sq km 16
101-500 people per sq km
501-1,000 people per sq km
1,001-1,500 people per sq km Scan the QR code

to view our branch
>1,501 people per sq km locations

Matters Matters
WHAT WE DO:
CORE BUSINESS SEGMENTS
AmBank (M) Berhad
AmBank (M) Berhad (AmBank) offers a comprehensive suite of financial products and services focused on
retail, corporate and institutional banking and preferred segments in small business, small and medium
enterprise (SME), mid-corporate and strategic partners. It is a Member of the Association of Banks in Malaysia.
AmBank Islamic Berhad

AmBank Islamic Berhad is the Islamic banking arm of AmBank Group. AmBank Islamic offers a comprehensive
range of Shariah-compliant retail and non-retail banking products and services, including investment, treasury,
and trade solutions. Its primary role as a credit intermediary is evolving as AmBank Islamic advances towards
its value-based intermediation (VBI) aspiration of being a purpose-based organisation whilst being mindful
of financial returns to its shareholders. It is a Member of the Association of Islamic Banking and Financial
Institutions Malaysia (AIBIM).
Read more on pages 88-91 of AmBank Group’s Integrated Annual Report 2023.
AmInvestment Bank Berhad
AmInvestment Bank Berhad (AmInvestment Bank) is a leading Malaysian investment bank with more than 30
years of experience. It is a Member of the Malaysian Investment Banking Association.
AmMetLife Insurance Berhad
AmMetLife Insurance Berhad (AmMetLife) is a strategic partnership between AmBank Group and MetLife
International Holdings, Inc. (MetLife). It is a Member of the Life Insurance Association of Malaysia.
AmMetLife Takaful Berhad
AmMetLife Takaful Berhad (AmMetLife Takaful) is a strategic partnership between AmBank Group and MetLife.
The strategic partnership combines the international expertise and financial strength of MetLife with the local
strength and reach of AmBank Group. It is a Member of the Malaysian Takaful Association.
13
CORPORATE STRUCTURE
As at 31 March 2023
AMMB Holdings Berhad
100% 100% 100% 100% 100% 100%
AmBank MBFC AmIslamic AmInvestment AIGB AMAB
100% 100% 70% 100%

AmCSB AFM ARH AmGH
100% 100% 100% 30%

AmMortgage AIFM
ARM LIB
100% 100% 100%

AMIL AAMNT
AmGI
100% 100% 100%
TOPSB AAMNA AMSH
100% 100% 100% 50%-1 Share

BDSB AMSNT MVMI* AmMetL
100% 100% 80% 50%+1 Share

APHSB AMSNA AmPE* AmMetT
33.33% 100% 100%

BLSB AMNT* AIM*
26.73% 100%
AFR AMR*
100% 100%
MISSB AMF*
100% 20%
MNT*
20%
20%
MTB*
81.51%
MPSB*
* Subsidiaries under liquidation

Matters Matters
CORPORATE STRUCTURE
As at 31 March 2023
Legend Company Principal Activities

AMMB - AMMB Holdings Berhad Investment holding
AmBank - AmBank (M) Berhad Commercial banking

AmCSB - AmCard Services Berhad Outsourcing servicer for mortgage related services
AmMortgage - AmMortgage One Berhad Securitisation of mortgage loans
AMIL - AmLabuan Holdings (L) Ltd Investment holding
TOPSB - Teras Oak Pembangunan Sendirian Berhad Dormant
BDSB - Bougainvillaea Development Sdn Bhd Property investment
APHSB - AmProperty Holdings Sdn Bhd Property investment
BLSB - Bonuskad Loyalty Sdn Bhd Managing customer loyalty schemes
AFR - AmFirst Real Estate Investment Trust Investment in real estate
MISSB - MBf Information Services Sdn Bhd Property investment
MNT - MBf Nominees (Tempatan) Sdn Bhd Dormant (In members’ voluntary winding-up)
MTB - MBf Trustees Berhad Dormant (In members’ voluntary winding-up)
MPSB - Malco Properties Sdn Bhd Dormant (In members’ voluntary winding-up)
MBFC - MBF Cards (M’sia) Sdn Bhd Dormant
AmIslamic - AmBank Islamic Berhad Islamic banking
AmInvestment - AmInvestment Bank Berhad Investment banking

AFM - AmFunds Management Berhad Funds management including management of unit trusts and Private Retirement Schemes
AIFM - AmIslamic Funds Management Sdn Bhd Islamic fund management services and distribution of wholesale funds
AAMNT - AM Nominees (Tempatan) Sdn Bhd Nominee services
AAMNA - AM Nominees (Asing) Sdn Bhd Nominee services
AMSNT - AMSEC Nominees (Tempatan) Sdn Bhd Nominee services
AMSNA - AMSEC Nominees (Asing) Sdn Bhd Nominee services
AMNT - AMMB Nominees (Tempatan) Sdn Bhd Dormant (In members’ voluntary winding-up)
AMR - AmResearch Sdn Bhd Dormant (In members’ voluntary winding-up)
AMF - AmFutures Sdn Bhd Dormant (In members’ voluntary winding-up)
AIGB - AmInvestment Group Berhad Investment holding

ARH - AmREIT Holdings Sdn Bhd Investment holding
ARM - AmREIT Managers Sdn Bhd Management of real estate investment trusts
AMSH - AmSecurities Holding Sdn Bhd Investment holding
MVMI - Malaysian Ventures Management Incorporated Sdn Bhd Dormant (In members’ voluntary winding-up)
AmPE - AmPrivate Equity Sdn Bhd Dormant (In members’ voluntary winding-up)
AIM - AmInvestment Management Sdn Bhd Dormant (In members’ voluntary winding-up)
AMAB - AMAB Holdings Sdn Bhd Investment holding

AmGH - AmGeneral Holdings Berhad Investment holding
(On 28 July 2022: (a) AmGH became a wholly owned subsidiary of AMAB; (b) AmGH
disposed its 100% shareholding in AmGI to LIB; and (c) AmGH acquired 30% shareholding
in LIB.)
LIB - Liberty Insurance Berhad General insurance
AmGI - AmGeneral Insurance Berhad General insurance
AmMetL - AmMetLife Insurance Berhad Life assurance
AmMetT - AmMetLife Takaful Berhad Family takaful
15
SUSTAINABILITY FRAMEWORK
Sustainability at AmBank means creating value beyond profits by aligning with stakeholder expectations and promoting positive ESG outcomes. We strive for socio-
economic prosperity while caring for the planet, ensuring sustainable business growth and long-term stakeholder value. Our sustainability agenda is guided by AmBank
Group’s Sustainability Framework, which is in line with ESG and value-based intermediation (VBI) principles. In all that we do, we seek to create value for our stakeholders
to create a better future for generations to come.
AmBank Group’s SUSTAINABILITY FRAMEWORK
AmBank Group embeds environmental, social and governance (ESG) considerations – including climate-related risks and anti-
Sustainability
bribery/ corrupt practices – into our strategies, business and operations, to contribute to the greater good of our stakeholders, and
Statement ensuring the longevity of our relevance and profitability.
Sustainability
Themes
Responsible Banking Conscious Self-Conduct Positive Societal Impact
We are committed to conduct our We are conscious that our internal We contribute towards the
business and engage customers conduct has ESG and climate-related creation of a positive impact
in a responsible manner. implications. to our communities.
Core
Sustainability Customer Satisfaction Responsible Consumption Community Empowerment
Matters
Mitigating ESG & Climate
Represent the Responsible Procurement
Related Risks
Group’s key focus
to focus to transition
into a sustainable Financial Inclusion
financial institution
Foundation Digital Transformation & Data Security

Sustainability
Matters
Employee Well-being & Development
Embedded as part
of our existing
operations Anti-Money Laundering & Anti-Corruption
United Nations
Sustainable
Development
Goals
Maqasid Protection of Protection Protection of Protection of Protection of

Shariah Faith (DIN) of Life (NAFS) Intellect (AQL) Lineage (NASL) Property (MAL)

Leadership Overview of Sustainability Sustainability Sustainability Core Foundation Appendix
Commitment AmBank Group @ AmBank Governance Highlights Sustainability Sustainability
Matters Matters
UN SUSTAINABLE DEVELOPMENT GOALS
As a constituent of the financial ecosystem, we recognise the crucial role we play in supporting the United Nations Sustainable Development Goals (UN SDGs), which
encompass a series of interrelated global aspirations. Our efforts to improve environmental and social outcomes are closely linked to the UN SDGs. Through promoting
sustainable economic growth, protecting the environment, advocating social inclusivity and adhering to good governance, we contribute to Malaysia’s fulfilment of global
goals. Ultimately, this strengthens our nation’s commitment to establishing peaceful, equitable and inclusive societies, preserving the planet and its resources for future
generations.
In ensuring our alignment with the UN SDGs, we prioritise goals that are directly or indirectly affected by our business and activities, evaluating each of the 17 SDGs and
their associated indicators to identify ways in which our business can attain these goals. To this end, we have identified ten priority UN SDGs, as indicated below:
Contribute by supporting a fair and

equitable workplace and ensuring a Contribute by supporting community
strong ethics and compliance culture initiatives and the agrobusiness sector
throughout the Group
Contribute by our responsible Contribute by promoting our

lending/ financing, investments, employees’ well-being and ensuring a
consumption and procurement conducive and healthy workplace
Contribute by equipping our

employees with valuable skills, as well
Contribute by reducing the negative as raise the standards of education
impact of our environment footprint through Financial Industry Collective
Outreach (FINCO) and financial
literacy programmes
Contribute by supporting
Contribute by improving gender
infrastructure and financial
equality within the Group
inclusion initiatives
Contribute by protecting labour

Contribute by delivering our
rights and supporting a positive work
innovative lending/ financing
environment for our employees, and
programmes and supporting
enhancing the accessibility of our
initiatives to develop SMEs
products and services
17
STAKEHOLDER ENGAGEMENT ON SUSTAINABILITY
We strike a balance between the immediate and long-term interests of our diverse stakeholders. Thus, we make every effort to meet their needs by establishing
meaningful relationships with our stakeholders to understand their needs and serve them better. We are committed to creating positive long-term value for our business
and non-business stakeholders, to pave the way for a sustainable future.
FREQUENCY OF MODE OF
STAKEHOLDER KEY EXPECTATIONS RESPONSE
COMMUNICATION COMMUNICATION
Survey, Distribution Seamless banking, meeting • Enhancing customer experience

Customers D M Points financing needs • Digital transformation
• New products and services
Townhalls, AmBank Work-life balance, safe • Promoting work-life balance

D M Q Connected Portals, & productive work • Talent management programmes
Employees
HR Emails, Meetings, environment, career • Training and development
Performance Reviews development opportunities
Onboarding Process, Ethical procurement, • Implement the e-Procurement system for self-
Suppliers P Performance Evaluation, guidance and effective registration of suppliers
Ad hoc Engagements communication • Guidance and knowledge-sharing with suppliers
Meetings, Seminars and Responsible banking • Best practices in corporate governance and
Government &
Q Workshops, Feedback practices, good governance compliance for meeting regulatory requirements
Regulators on Consultation Papers and compliance, • Strong compliance culture within the Group
socio-economic growth • Promoting financial inclusion
FINCO, Focus Financial inclusion and • Implement CSR programmes through AmKasih
Civil Society/
M Groups, Volunteering literacy, community Programme
NGOs Programmes development and outreach • Launched AmCare
• Zakat distributions
Shareholders/ Annual General Strategic priorities, • Strengthening Sustainability Governance, e.g.
Investment Q A Meeting, Analyst and sustainable earnings growth established the Group Sustainability Council
Community Fund Manager Briefing, and stable dividends, • Credit, investment and advisory practices
Investor Roadshow, prudent cost management, incorporate ESG and climate considerations
Media Briefings/ proactive management of
Releases, Meetings, asset quality and credit
Corporate Website, IR exposure, digital initiatives,
Mailbox ESG considerations in
business decisions
Meetings, Webinars, Ethical business practices, • Safeguard data privacy and protection
Business
M Seminars/ Workshops, strong financial performance • Conducting audits and internal control
Partners Roadshows
Events, Media Releases, Accurate and relevant • Regular engagement with media, e.g. press
Media M Interviews, information, fair and conferences, press releases, special interviews
Engagements transparent content
Meetings, Audit, ESG performance, • Assurance statement for Sustainability Report

Sustainability-
A Assessment sustainable financing • Conduct OSH inspection audits
Certiﬁed Bodies
D Daily M Monthly Q Quarterly A Annually P Periodically

Matters Matters
SUSTAINABILITY THEMES AND SUSTAINABILITY MATTERS
AmBank Group’s sustainability agenda is structured around three Sustainability Themes, encompassing nine Sustainability Matters.
METHODOLOGY ON SUSTAINABILITY MATTERS
1
IDENTIFICATION
Collect feedback from AmBank
2
PRIORITISATION
Rank the survey findings according
3
VALIDATION
Submit the identified material matters
4
INTEGRATION
Integrate the material matters into our
Group Sustainability Stakeholder to their probability of occurrence and and matrix to the Group Sustainability strategies, management decisions
Engagement Survey. impact on the business. These are Council. and day-to-day operations.
mapped onto a materiality matrix to
prioritise the top material matters.
Our methodology has enabled us to identify nine Sustainability Matters, which are categorised into three Sustainability Themes.
Responsible Banking Conscious Self-Conduct Positive Societal Impact
The Sustainability Matters represent the key areas we focus on in our sustainability journey. We regularly conduct materiality assessments on these matters to ensure they
remain relevant. After our latest assessment in FY2023, we have streamlined the previous ten Sustainability Matters into nine. The matrix below illustrates the ranking and
importance of the identified Sustainability Matters:
Employee Anti-Money
80% Community Responsible Well-being and Laundering and
Overall Inﬂuence on Stakeholder Assessments & Decisions (%)
Responsible Empowerment Procurement Customer

Development Anti-Corruption
Consumption Satisfaction
70% Financial Mitigating
Inclusion ESG & Climate Digital Transformation
Related Risks and Data Security
60%
50%
40%
30%
20%
10%
0%
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Overall Significance of AmBank’s Sustainability Impacts (%)
19
Why Do They Matter?
CORE SUSTAINABILITY MATTERS
Sustainability Matters Business Context Risks
Customer loyalty and trust are based on our ability to Conveying misleading information or exploiting
meet customers’ changing needs and protect their customers may tarnish our reputation, affect sales and
financial interests. result in regulatory actions.
Customer Satisfaction
Stakeholders are increasingly expecting financial Working with organisations that harm the environment
institutions to incorporate responsible business practices and society or have weak governance practices,
and contribute towards socio-economic resilience as hampers long-term performance and affects customer
Mitigating ESG & Climate Related Risks well as incorporating climate risk-related management. repayment and collateral values.
Providing access to financial products and services Our inability to effectively manage the credit risk of
which are delivered in a responsible and sustainable underserved and unserved markets will compromise our
way to the underserved and unserved markets. ability to balance profitability with responsible banking.
Financial Inclusion
Environmental challenges, such as climate change, Engaging in harmful practices will negatively impact the
directly impact the environment in which we operate. climate and our environment.
Responsible Consumption
Our procurement impacts the sustainability and Regulatory violations and unethical practices committed
responsibility of our business activities and our growth by suppliers may disrupt our business and damage our
as a sustainable organisation. reputation.
Responsible Procurement
Inclusive economic growth and shared prosperity The lack of impactful community development and social
require the empowerment of our communities. programmes may imply that we are an organisation that
is focused solely on making profit.
Community Empowerment
FOUNDATION SUSTAINABILITY MATTERS
Emerging technology and digital advancements Cyberattacks and breaches in our system cause
continue to disrupt and transform the financial industry business disruptions and reduce stakeholder trust and
and concurrently increase data security risk. confidence. We need to also be aware of the potential
Digital Transformation & Data Security
risks of emerging digital banks.
Employees are the drivers of our growth and resilience. A A workplace that is not conducive leads to diminished
skilled and resilient talent pool is crucial for the business productivity, a high employee turnover rate and a
to thrive far into the future. disengaged workforce.
Our sustainability objectives and business growth rely Unethical conduct, violations and corruption found in our
on good corporate governance, transparency, compliance operations will result in regulatory fines, penalties and
with laws, regulations and Shariah requirements, loss of stakeholder confidence and trust.
Anti-Money Laundering & Anti-Corruption
accountability and integrity across all levels.

Matters Matters
Opportunities Our Approach Stakeholders Affected
Providing excellent customer experience will strengthen our brand and give us the See page 33
competitive advantage.
Engaging in environmentally and socially responsible lending/ financing practices See pages 36-37
allows us to seize growth opportunities in the underserved segments and emerging
markets including the green sector.
Tapping into the underserved and unserved markets will open up new growth segments, See page 42
along with enabling infrastructure, risk management and financial inclusion initiatives.
Investing in resource-efficient initiatives enables us to reduce our consumption of See pages 45-47
resources and enhance operational costs.
Supporting local entrepreneurs and SMEs while advocating responsible practices and See page 55
ethical conduct contributes to the nation’s socio-economic growth and well-being.
Developing the communities in areas where we operate is in line with the health and See page 57
prosperity of the financial ecosystem.
Through digitalisation, we can create innovative financial solutions to meet evolving See pages 61-62
customer needs, attract new customers and improve market share. Digitalisation also
improves our processes, bolstering customer experience and accelerating productivity.
Providing employees with regular training equips them with future-ready skills while a See pages 64-65
safe and healthy work environment enhances their performance and preparedness in
adapting to challenges.
Having a robust grievance mechanism enables stakeholders to freely and securely See pages 73-75
report potential wrongdoings or unethical conduct.
21
FUNCTIONS & DECISION-MAKING
Our sustainability governance Sustainability governance is driven from the top, where the Board has overall accountability and responsibility for
the Group’s sustainability agenda. The Board has oversight and decision-making of the Group’s sustainability/ ESG
structure ensures strong agenda, ensuring that sustainability is embedded in the formulation of Group-wide strategies. This includes having
the responsibility to consider the strategy to build sustainability/ ESG capacity of the Group. Sustainability/ ESG
oversight and execution issues, including climate-related matters are presented to the Board at least twice per financial year.
of sustainability-related In FY2023, key climate-related matters were discussed at the Board and Management Committee levels, and
these included BNM Climate Change and Principle-based Taxonomy (CCPT), enhancements of the Group’s
strategies, including ESG risk ESG risk grade and Climate Change Classification (CC-C) Guideline, and BNM Climate Risk Management &
Scenario Analysis (CRMSA) policy document. Other sustainability-related matters discussed at the Board level
considerations. Across the included the relevant Group policies, key initiatives undertaken by the Group, and partnerships to strengthen the
Group, we have clear functions implementation and outcomes of the Group’s initiatives.
in place, with specific roles and Senior management headed by the Group CEO is responsible for the implementation of the Bank’s ESG strategy
and managing climate-related risks and opportunities related to the Group’s activities.
responsibilities to efficiently The Group Sustainability Council, which comprises senior management, oversees sustainability-related strategies
address ESG as well as climate- within AmBank Group. The Council convenes on a quarterly basis and is chaired by the Group CEO whilst the CEO
of AmBank Islamic, who is also the Group Sustainability Champion, is the Alternate Chairman.
related risks and opportunities.
To ensure clear sustainability accountability, we have assigned sustainability-related KPIs to the Group CEO and
all direct reports to the Group CEO.
For more information on sustainability and ESG training for the Board, refer to page 128 of AmBank Group’s
Integrated Annual Report 2023.

Matters Matters
FUNCTIONS & DECISION-MAKING
BOARD OF
DIRECTORS
• Overall accountable and responsible for the Group’s sustainability/ ESG agenda and embeds
sustainability/ ESG in the formulation of Group-wide strategies, including oversight and decision-making.
* Applicable for • Responsible to consider the strategy to build capacity in relation to sustainability/ ESG.
AmBank Islamic
matters
Shariah Committee Risk Management Committee
• Responsible and accountable on matters related to Shariah. This • Responsible to oversee the governance of and infrastructure
includes oversight accountability on Shariah related matters in relation to manage Group-wide ESG risks, which includes overseeing
to sustainability and advising the CEO and Board on Shariah matters in the formulation and management of the ESG risks within the
relation to sustainability. Group Risk Appetite Framework and Asset Writing Strategy.
Group Management
Group Sustainability Council Committee/ Group Management
Risk Committee
• Responsible for overseeing the development and implementation of sustainability- • Responsible to recommend/ approve
related strategies and initiatives within AmBank Group. sustainability-related matters (e.g. policies
• Responsible to deliberate/ recommend/ endorse/ note sustainability-related matters. and guidelines).
• Responsible for ensuring the inclusion of sustainability-related key performance
indicators (KPIs) in scorecards of senior management personnel of AmBank Group.
• The Council is chaired by the Group CEO whilst the CEO of AmBank Islamic, who is
also the Group Sustainability Champion, is the Alternate Chairman.
Embedded Sustainability
Group Sustainability Department Sustainability Matter Sponsors Functions: Sustainability
Champions
• Accountable to lead the development and • Accountable and responsible for the • Appointed business/ operations
implementation of broad-based, Group-wide Sustainability Matters’ implementation, which representatives responsible to drive
strategic sustainability initiatives. includes to determine and track performance sustainability initiatives within their legal
• Responsible for supervising the execution metrics and targets. entity/ division/ department and are under
of strategies and initiatives in support of the • Review the effectiveness of relevant the responsibility of the Sustainability
Sustainability Matters. policies/ guidelines/ processes based on the Matter Sponsors.
• Has a broad mandate and competencies to Sustainability Matters and initiatives undertaken.
ensure execution of initiatives in line with the
Group’s sustainability strategies. Note: Sponsors must be a C-Suite or designated
by the Group Sustainability Council.
23
SUSTAINABILITY CONTROL FRAMEWORK
The Group has taken proactive measures to manage our exposures to ESG risks across our business and operations. In addition to our lending/ financing practices, we
have established internal controls within the three lines of defence where we have identified the relevant departments within each line of defence. For example, the
Group Sustainability Department, which has been established to supervise, lead and coordinate the development of sustainability initiatives, will be the Group’s first line
of defence where it will work with the Group Risk Management Department to ensure that sustainability policies/ guidelines are aligned with credit policies. Our ESG risk
management is illustrated below:
First line of defence
Sustainability Matters Sponsors Group Sustainability

• For the respective legal entity/ division/ department levels • Owner of Sustainability/ ESG related policies and guidelines
• Owner of the designated Sustainability Matters • Work with Group Risk Management Department to ensure that sustainability policies/
• Supported by Embedded Sustainability Function guidelines are aligned to credit policies/ guidelines
• Formulate and oversee the execution of sustainability-related initiatives
Group Risk Management Department

• Work with Group Sustainability Department to ensure credit policies/ guidelines are aligned to sustainability policies/ guidelines
Second line of defence Third line of defence
Group Risk Management Department Group Compliance Group Internal Audit Department
• Ensure that ESG risk and BNM CCPT • To ensure compliance with • Implement periodic audits to assess implementation of sustainability-related policies
assessments for credit proposition regulatory requirements and procedures
have been completed as part of • Periodic reviews to assess
credit evaluation process compliance to sustainability-related
regulatory requirements
• Monitoring and testing of ESG-RG,
BNM CCPT classification and other
sustainability-related classifications,
adoption of climate-related
considerations
For AmBank Islamic matters only
Shariah Risk Management Shariah Review Shariah Audit

• Assess the Shariah risks in relation to • Periodic reviews to assess • Implement periodic audits to assess implementation of sustainability-related policies
the implementation of sustainability- compliance of sustainability-related and procedures, from a Shariah perspective
related matters regulatory requirements from a
Shariah perspective
As an organisation in a regulated industry, we have a responsibility to ensure that our business customers are aligned with our sustainability agenda. Failure to comply
with global and local regulatory rules and standards could lead to consequences such as ceasing of operations by authorities, which would disrupt business continuity
and the financial stability of our customers.
Thus, we have in place an Exclusion List, whereby the Group would not extend new/ additional loans/ financing or refinancing to customers who are under the list. We
also assess the ESG risks of selected non-individual customers based on the Group’s ESG Risk Assessment (ESG-RA) Guideline, which was enhanced in 2022 to include
Climate Change Risk Assessment and eight sector-specific assessment.

Matters Matters
The ESG Risk Assessment is conducted by business units and relationship managers (RMs), who refer to the sector-specific ESG-RA Checklist to assign an ESG risk grade
(ESG-RG) and Climate Change Classification as per BNM CCPT. The ESG-RG influences the decision-making process of the approval authority.
ENVIRONMENTAL, SOCIAL AND GOVERNANCE RISK ASSESSMENT

Assign Environmental, Social and Governance Risk Grade (ESG-RG) as part of our credit evaluation process for selected
non-individual customers and financial investments
Environmental assessment includes: Social assessment includes:

• Climate Change Risk • Compliance with the labour laws such as child labour laws and avoid poor labour practices
• Supply chain and mitigations (including migrant workers) in relation to its procurement and production
• Availability of procurement policy that embeds sustainable considerations • Compliance of the Workers’ Minimum Standards of Housing and Amenities (Amendment)
• Availability of deforestation policy which includes land clearance methods, where relevant. Act 2019, where relevant
• Availability of water management policy (e.g. water source, usage monitor, pollution) • Social Impact Assessment (SIA), where relevant
• Availability of riparian management policy and mitigation plans are in place, where relevant. • Free, Prior and Informed Consent (FPIC), where relevant
• Availability of waste/ effluents/ chemical management plan • Availability of grievances handling and management policy
• Availability of Occupational Safety and Health (OSH) management policy and in compliance
with ISO45001
Governance assessment includes:

• Compliance to Guidelines on Adequate Procedures issued pursuant to Section 17A(5) of the Malaysian Anti-Corruption Commission Act 2009 (MACC) and Anti-Money Laundering Policy
• History of any significant incident/ legal action/ penalty/ fine by authorities or third party in relation to ESG
• Adoption of the Principles and Practices set out in the Malaysian Code of Corporate Governance (MCCG)
• Availability of sustainability report or have any ESG disclosures
• Hold a valid certification (including industry schemes) covering Environmental, Social or Governance considerations
• Establishment of Sustainability Commitment, Sustainability Strategy and Risk Management Framework with ESG integration
SECTOR-SPECIFIC ESG RISK ASSESSMENTS

There are sector-specific assessments conducted for the following sectors:
PALM OIL FORESTRY QUARRYING MINING
• Assess if the customer has a fully • Assess if the customer has a forest • Assess if the customer decommissions • Assess if the customer decommissions
compliant MSPO supply chain and management plan which includes tailings disposal/ storage facilities using tailings disposal/ storage facilities using
mitigations harvesting-related information and comprehensive, risk-based management comprehensive, risk-based management
• Assess if the customer has a no-burning commitments and governance practices that are and governance practices that are
policy in accordance with recognised good in accordance with recognised good
practice, in order to minimise the risk of practice, in order to minimise the risk of
catastrophic failure catastrophic failure
CONSTRUCTION & INFRASTRUCTURE OIL & GAS MANUFACTURING LOGISTICS
• Assess if the customer has a no-burning • Assess if the customer measures the • Assess if the customer has a no-burning • Assess environmental and social
policy following: policy impacts, waste management and
- Quantity of hydrocarbons discharged and Occupational Safety and Health (OSH)
- Volumes of produced water an processed management policy
water that are reused/ recycled
25
KEY SUSTAINABILITY POLICIES & GUIDELINES
In order to uphold good governance within the organisation, we are guided by our robust Internal Policy Management Framework, which governs the Group’s policies
where policies are reviewed on a biennial basis by the respective owner. However, if new legislation or circumstances arise, an earlier review may be conducted to
maintain the relevance of our policies.
SUSTAINABILITY FRAMEWORK
e.g. policies with Sustainability Matters
Product, Sales & Marketing Credit/ Lending Human Resource
Investment Information Services Admin & Procurement
Others
To be consistent with Sustainability Matters
SUSTAINABILITY MATTERS
Customer Satisfaction • Code of Conduct – Respecting Our Customer • Product Approval and Management Policy
• Customer Service Charter – Service Standards • Code of Conduct – Speaking on Behalf of AmBank Group
Mitigating ESG & Climate Related Risks • Green Financing Guideline • Non-Retail Credit Policy (NRCP) which includes Exclusion List
• Environmental, Social and Governance Risk Assessment and
Climate Change Classification Guideline
Financial Inclusion • Retail Credit Policy (RCP)
Responsible Consumption • Group Environmental Policy • Environmental Waste Management Practice Guide
• Environmental Monitoring and Measurement Practice Guide • Greenhouse Gas (GHG) Accounting and Reporting Practice
• Environmental Objectives, Targets and Plans Practice Guide Guide
• Environmental Resource Management Practice Guide • Group Energy Policy
• Energy Management Practice Guide
Responsible Procurement • Supplier Code of Conduct (SCOC) • Code of Conduct – Managing Supplier Relationships
Community Empowerment • Code of Conduct – Positive Social Impact
Digital Transformation & Data Security • Privacy Notice on Personal Data Protection Act (PDPA) 2010 • AmBank Group Web Portal Security Statement
Employee Well-being & Development • Code of Conduct – Employer of Choice • Occupational Safety and Health (OSH) Policy Statement
• Code of Conduct – Fair and Respectful Workplace • Incident, Non-Conformity and Corrective Action Procedure
Anti-Money Laundering & Anti-Corruption • Anti-Money Laundering (AML) and Counter Financing of • Anti-Bribery & Corrupt Practices Policy
Terrorism (CFT) Framework • Whistle-blower Protection Policy (WPP)
• Know Your Customer (KYC), Customer Identification and Due • Code of Conduct – Code of Ethics
Diligence Policy • No Gift Policy
• Politically Exposed Persons (PEP) Policy • Management on Conflict of Interest Policy
• Customer Relationship Review and Exit Relationship Guideline • Related Party Transaction Policy
• Markets Conduct Policy

Matters Matters
Code of Conduct – Respecting Our Customer: Stresses the importance of fair treatment and respect towards customers. Employees are required to demonstrate
professionalism, transparency and integrity in all dealings with customers. Customer complaints received via our various feedback channels must also be resolved in
a friendly, expeditious, fair and effective manner.
Customer Service Charter – Service Standards: Outlines our commitments and service standards in providing excellent service to our customers. Our employees
are expected to understand the customer’s profile to deliver products and services according to their needs. The service team is required to deliver transparent and
personable service and ensure that the customer is kept aware of our multi-channel options and accessibility.
Product Approval and Management Policy: Articulates the overarching principles and minimum requirements in product development throughout the product life
cycle. The process balances the need for product governance with commercial considerations. The policy also includes sustainability considerations in its product
approval process.
Code of Conduct – Speaking on Behalf of AmBank: Emphasises the importance of accurate and factual communications regarding the bank. It applies to all
employees and highlights the reputational risks linked to releasing inaccurate information and communication.
Mitigating ESG & Climate Related Risks
Green Financing Guideline: Guidance on how we categorise our green loans/ financing.
Environmental, Social and Governance Risk Assessment and Climate Change Classification Guideline: Provides the guidance that the customer’s business
activities pose to the environment and society, and the risk that the customer may not adhere to good governance practices, by using information obtained from the
customer and available public information. It also provides guidance to categorise the impact of the customer’s activities to climate change.
Non-Retail Credit Policy (NRCP): Sets out the high-level credit principles that we adopt to ensure a consistent approach to managing credit risks for non-retail
portfolios. It outlines the credit management standards required to be observed throughout the life cycle of credit exposure, including credit assessment standards,
annual review and review of problematic accounts and independent credit review requirements.
Financial Inclusion
Retail Credit Policy (RCP): Represents the credit risk management standards of the Group for retail portfolios. The policy was established within our tolerance for
credit risk, and supports the Group Risk Appetite Framework (GRAF) and overall business strategy. The Group Risk Management Department provides independent
oversight and risk assessments, as per BNM’s Risk Governance standards and guidelines. Whilst we strive to provide access to funding for the underserved segment,
our underwriting standards must adhere to the RCP.
27
Group Environmental Policy: Describes the key principles to better manage the environmental impact of our operations and activities. Employees and suppliers need
to meet all environmental compliance obligations and strive to continuously improve our environmental performance.
Environmental Monitoring and Measurement Practice Guide: Helps employees monitor, measure, analyse and evaluate the environmental performance of our
operations. The key requirements stipulated in this guide include establishing, measuring and monitoring Environmental Performance Indicators (EPIs).
Environmental Objectives, Targets and Plans Practice Guide: Provides direction in developing, implementing, monitoring and evaluating environmental objectives
and targets. These objectives and targets are set according to an Environmental Management Plan (EMP).
Environmental Resource Management Practice Guide: Outlines the best practices in effectively managing the consumption of resources such as electricity, water,
paper and materials. The guide includes Environmental Resource Management Principles; Resource Classification; Electricity and Energy Management; and the
Management of Renewable and Non-Renewable Recyclables, Recoverable or Reusable Materials.
Environmental Waste Management Practice Guide: Helps effectively manage both solid and scheduled waste generated by our operations and activities. This
practice includes details on waste management principles, waste classification and sustainable waste practices.
Greenhouse Gas (GHG) Accounting and Reporting Practice Guide: Provides essential carbon management criteria, such as identifying the scopes and boundaries
of GHG emissions, as well as the calculation, reporting and verification of carbon data.
Group Energy Policy: Acts as the foundation for a successful energy management programme across our buildings and activities. The policy formalises the support
and articulates our commitment to energy management and sustainability.
Energy Management Practice Guide: Provides guidance in effectively managing energy consumed by AmBank Group in accordance to the Group Energy Policy.
Supplier Code of Conduct (SCOC): Aims to create a sustainable future through responsible procurement. Suppliers must act with integrity, responsibility, honesty,
and respect and maintain ethical, safe and environmentally responsible practices.
Code of Conduct – Managing Supplier Relationships: Requires employees to abide by the guidelines that help build trust, cooperation and long-term relationships.
It emphasises the oversight of the procurement processes to ensure we maintain integrity and honesty across the supply chain.
Code of Conduct – Positive Social Impact: Acts as a guide in addressing a wide range of matters on the development of communities. We deliver donations and
grants, and conduct volunteering activities through our CSR initiatives that enable the Group to connect with local communities and contribute to their socio-economic
growth.

Matters Matters
Privacy Notice on Personal Data Protection Act (PDPA) 2010: Reflects our commitment to protect and safeguard customers’ personal data when entering into any
transaction with the Group. The document describes the type of customer data obtained, how it is processed, and the customers’ right to withdraw consent to the
use or processing of their data.
AmBank Group Web Portal Security Statement: Highlights our aim to maintain strict procedures and standards against unauthorised access to personal information.
It applies to our website page regarding the security of users’ personal information collected and/ or processed through the web portal and the obligations of
the user.
Code of Conduct – Employer of Choice: Outlines our broad focus areas to become an Employer of Choice. Firstly, to provide a work environment in which our people
are valued and enable them to develop their skills and talent towards new challenges. Secondly to maintain and develop the skills, knowledge and capabilities that
will assist in delivering good performance at work.
Code of Conduct – Fair and Respectful Workplace: Highlights our commitment to creating a workplace that is free from negative and inappropriate behaviours.
Employees are required to treat each other with respect, with guidelines on how to act to create a respectful work environment. It emphasises our zero-tolerance of
discrimination and harassment and the shared responsibility of fostering a diverse and inclusive workforce.
Occupational Safety and Health (OSH) Policy Statement: Stipulates our commitment to mitigate any workplace accident, injury and disease with the following
OSH measures: maintain premises and equipment in a condition that is safe and constitutes a minimal risk to health, including the means of access and exit; provide
the necessary information, instruction, training and supervision to all employees to sustain a safe and healthy workplace; and provide a monitoring mechanism for
compliance with OSH and other relevant statutory requirements. These health and safety procedures extend to all employees, visitors and other persons within our
premises.
Incident, Non-Conformity and Corrective Action Procedure: Guides the reporting, recording, investigation and correction of workplace incidents and non-
conformities. This procedure is reviewed periodically by the OSH unit according to ISO 45001 Standards, ensuring that the contents reflect the current operating
procedures.
29
Anti-Money Laundering (AML) and Counter Financing of Terrorism (CFT) Framework: Defines the standards and procedures for the prevention and detection of
suspicious transactions, such as money laundering and other financial crimes. Thorough investigation procedures help identify suspicious money flows and prevent
the use of our banking channels and products to conduct illicit/ illegal transactions.
Know Your Customer (KYC), Customer Identification and Due Diligence Policy: Stipulates stringent procedures to ensure that the Group only manages customers
who have been properly verified and approved. It ensures proper customer identification through reliable information and documentation, which allows for the proper
assessment of a customer’s risk profile.
Politically Exposed Persons (PEP) Policy: Identifies and manages potential risks associated with onboarding and maintaining our dealings with PEPs, Politically
Exposed Corporations (PECs), and Relatives and Close Associates (RCAs). These politically associated groups are subject to Enhanced Customer Due Diligence
processes, which involve robust assessment of, inter alia, reputational risk issues and risk mitigation.
Customer Relationship Review and Exit Relationship Guideline: Provides guidance on customer relationship reviews where there are AML/ CFT concerns and the
process to further monitor or exit a relationship, should evidence indicate that AML/ CFT issues exceed AmBank risk tolerance levels.
Anti-Bribery & Corrupt Practices Policy: Sets the standards of integrity demanded of all its employees in their day-to-day business dealings and operations. It
represents our zero-tolerance stance on bribery and corruption in all forms. The policy is modelled after the requirements of adequate procedures emanating from
the Malaysian Anti-Corruption Commission Act Section 17A.
Whistle-blower Protection Policy (WPP): Provides a safe and reliable channel for stakeholders, including customers, suppliers, and employees, to voice grievances
and report against unethical conduct without fear of repercussions. They are encouraged to voice out any misconduct such as dishonesty, fraud, corruption, bribery
or illegal practices, abuse of power, or conflict of interest involving the Group.
Code of Conduct – Code of Ethics: Reflects our firm commitment to maintaining a high level of integrity, professionalism and ethical conduct. It applies to all
employees across all levels and provides a clear direction in conducting business, interacting with the community, Government and business partners, as well as
general workplace behaviour.
No Gift Policy: Strictly prohibits employees from offering, soliciting, or receiving gifts in any form – between current or potential customers, vendors, agents and
business partners – which could influence impartial judgement during decision-making. This protects us from potential conflicts of interest, bribery and corruption, as
well as ensuring that practices and dealings are conducted ethically and professionally.
Management on Conflict-of-Interest Policy: Outlines how to manage situations where an individual’s personal interest conflicts with the professional interest owed
to the Group and its customers. It describes the identification and prevention of such conflict, including managing Inside Information. The policy promotes high
standards of professionalism, integrity and fair dealing by establishing procedures to ensure that Conflict of Interest is properly managed and/ or mitigated.
Related Party Transaction Policy: Ensures all related party transactions and recurrent party transactions are made on standard commercial terms and do not
favour the related party over those generally made to the public. The policy defines, among other things, associated parties, related party transactions and persons
connected, and sets out the approval requirements.
Market Conduct Policy: Establishes the overarching principles in managing market activities to ensure compliance with all relevant regulations and uphold high
standards of integrity and professional conduct. We have zero tolerance for market misconduct and expect all authorised persons to have sound knowledge and
understanding of market regulations.

Matters Matters
ASSOCIATIONS & MEMBERSHIPS
ASSOCIATIONS & MEMBERSHIPS
Association Our Roles and Contributions Membership
Association of Banks Malaysia • Actively participate in various initiatives that promote and strengthen the commercial banking AmBank (M) Berhad
industry to become more resilient, effective and efficient.
Association of Islamic Banking and • Serve as members of the AIBIM Council and various AIBIM working committees and sub- AmBank Islamic Berhad
Financial Institutions Malaysia (AIBIM) committees.
Malaysian Investment Banking • Actively participate in programmes and initiatives that improve and strengthen the Investment AmInvestment Bank Berhad
Association (MIBA) Banking Industry in Malaysia.
• Sit on various committees in MIBA, which act as a forum for industry dialogue between
practitioners and Malaysian regulators.
• Discuss and address issues affecting the industry, which provides for smooth functioning of
capital markets and aims to push innovation and adopt best practices promptly.
Financial Industry Collective Outreach • Support FINCO’s goal to provide underprivileged and youths with the guidance and educational AmBank Group
(FINCO) tools they need to achieve their life goals.
• Actively participate and volunteer in FINCO programmes, such as FINCO Reads, FINCO Mentor
and FINCO Good SENS (Social Enterprise Network for Schools), which builds on the current
efforts of financial industry members and supports Malaysia’s national strategy for financial
literacy.
Malaysian Investor Relations Association • Actively participate in knowledge-sharing sessions between other public-listed companies and AmBank Group
(MIRA) the investment community to promote corporate governance and transparency, and enhance
shareholder value.
Joint Committee on Climate Change (JC3) • Help pursue collaborative actions for building climate resilience within the financial sector. AmBank (M) Berhad
• Collaborate with other financial players to build industry capacity through sharing knowledge,
expertise and best practices in managing climate-related risks.
• Actively support the identification of issues and priorities facing the financial sector in managing
the transition towards a low-carbon economy.
• Collaborate with stakeholders in advancing coordinated solutions to address climate-related
challenges.
Association of Stockbroking Companies • Promote the interest of stockbroking companies by providing a collective stockbroker’s voice to AmInvestment Bank Berhad
(ASCM) the relevant regulators and the public.
• Participate in all issues directly related to the development and progress of the stockbroking
industry and help realise the Government’s vision of transforming Malaysia into a regional
financial centre.
• Work closely with the Ministry of Finance, the Securities Commission Malaysia and Bursa
Malaysia on a diverse range of operational and policy issues.
Community of Practitioners (CoP) of • The CEO of AmBank Islamic was the 1st Chairman of the VBI Sectoral Guideline Working Group, AmBank Islamic Berhad
Bank Negara Malaysia’s Value-Based which developed sector guide documents pertaining to the Palm Oil, Renewable Energy and
Intermediation (VBI) Energy Efficiency sectors and activities.
• For Cohort 2, AmBank Islamic was also part of the VBI Sectoral Guideline Working Group to
develop a sector guide pertaining to the Construction & Infrastructure sector.
• AmBank Islamic’s personnel are members of Cohort 3 to develop sectoral guidelines for
Transportation and Storage sectors.
31
SUSTAINABILITY HIGHLIGHTS
Achieved
First Ranking
Surpassed carbon emissions reduction target of 24% against in the Net Promoter Score (NPS) and Customer Satisfaction (CSAT)
93%
baseline 2019, achieving 30% reduction before carbon offset and amongst AmBank Group customers
Participated in inaugural
carbon credit auction on
after carbon offset Bursa Carbon Exchange
(BCX)
and successfully bid for carbon credit
Energy Management
Gold Standard (EMGS) - Maintained
1st Financial Institution
awarded the certification 81,850 kWh
energy generated from solar
“AA”
Rating For MSCI ESG
panels from April 2022 to March
2023, offsetting 63.84 mtCO2e
RM1.94 Became an official supporter

of the Task Force on Climate-
billion
of green loans/ financing disbursed
related Financial Disclosures
(TCFD)
100% of energy consumption from

operations in Sarawak was from a RM1.4 billion
disbursed under the affordable home
hydroelectricity source, reducing 503.45
financing schemes with 5,916 homes
mtCO2e purchased
100% members of the

Board and employees
Incentivise and
Zero
Established AmCare
received training
assist SMEs for employees to
and communication
to green their operations via the volunteer in CSR Lost Time Injury
on the Group’s anti-
GVC Programme activities Frequency Rate
corruption policies
and procedures

Matters Matters
CUSTOMER SATISFACTION
Customer satisfaction is essential for the sustainable growth of a business. At

AmBank, we prioritise customer satisfaction and go beyond our daily duties to
meet customer needs and expectations.
Fulfilling customer banking needs through providing seamless banking experience will enable us to achieve greater customer retention and build a stronger brand
reputation. In today’s digital era where innovative technologies and rapid digitalisation prevail, customer expectations continue to evolve with higher expectations. While
we embrace new technologies, we strive to provide a human touch in delivering exceptional service quality. Our goal is to offer a holistic customer experience, ensuring
satisfaction throughout their banking journey with us.
OUR APPROACH
We seek to differentiate ourselves from other financial institutions by constantly disclose fair and transparent information to ensure that our customers make well-
enhancing our customer experience. To understand our customers, we frequently informed decisions. This will help to protect our customers’ financial interests and
engage and interact with them and improve customer satisfaction through maintain their trust and confidence in our ability to serve them. We ensure that our
implementing effective measures to resolve the issues faced. Our aim is to marketing activities comply with all the necessary regulatory rules, which protect
transition our customer interactions from the transactional mindset towards more customers against financial exploitation or misselling risks.
personalised and mutually beneficial relationships.
In order to ensure consistent communication across the organisation, our
As part of excellent customer experience, we are guided by robust policies and branding strategy comprising branding, communications and marketing activities
measures that ensure honest and transparent information for our customers. We is governed by our brand governance. This protects our brand from unethical use
uphold ethical marketing practices to protect our customers’ best interests and apart from ensuring that all marketing communications are synergistic, relevant,
fulfil our commitment to putting customers first. We have an ethical obligation to purposeful and socially responsible.
OUR INITIATIVES
THE “NEW NORM” OF CUSTOMER EXPERIENCE (CX) • Robotic Process: Continuously improving on the automation processes to on-
board new and existing customers by leveraging AmOnline, Robotic Process
• Digital Experience: Initially developed to assist our customers in navigating Application and other digital channels.
the restricted movement control during the COVID-19 pandemic, our
improved user interface and experience on our mobile and digital platforms Enhancing CX
and enhanced access to self-service machines have enabled the continuity
of remote banking. • Customer Surveys: Conducted surveys to identify gaps and key improvement
• Voice of Customers (VOC): During the post-pandemic, our key initiative areas to enhance digital banking experience.
was to identify and embed as many customer surveys as possible at critical • Branch QR Code Feedback: Implemented an initiative where all our branches
touch points to collate in-depth feedback. This is to enable us to review and nationwide would have their unique QR codes, whereby, by scanning the code,
further enhance our customer service and experience in the fastest, most customers were able to easily drop their compliments and feedback based on
convenient and frictionless way. their experience at the respective branches.
33
OUR INITIATIVES
• CX Workshops: Internal workshops were organised to develop strategies and

action plans based on the findings of the surveys, which covered processes,
procedures, service excellence and customer pain points.
• Customer Feedback: The Amazing CX and Overall Customer Compliments
campaign was launched across the various distribution channels which garnered
6,742 feedback and compliments registered.
Rewards Recognition
• The following awards were organised to reward and appreciate employees who
provided outstanding customer service:
o STAR Awards – Enabled internal employees to recognise their colleagues, staff
and/ or supervisors as an Engaged Employee, Shining Star or CX Excellence
o Audit and Compliance Excellence (ACE) Awards – Recognised branches which
achieved strong audit and compliance ratings, and individual staff at branches
and HQ who exhibited fast, proactive initiatives going beyond to prevent losses
for us and our customers
OUR PROGRESS
Achieved first ranking in 433% increase in total customer 548% increase in compliments for 6,742 feedback and compliments
the Net Promoter Score (NPS) compliments received, from 6,029 branches, from 5,298 compliments received from the Amazing CX and
and Customer Satisfaction compliments in 2022 and 1,393 in FY2022 compared to 967 Overall Customer Compliments
(CSAT) amongst AmBank Group compliments in 2021. compliments in 2021. campaign.
customers.
19 employees were awarded 29 branches recognised with Over 82% of retail banking 24,000 retail SME customers
the ACE Awards for outstanding strong audit or compliance ratings transactions performed via with access to AmAccessBiz.
behaviour in support of our from the Group Internal Audit AmOnline.
compliance culture. Department and Group Compliance
Monitoring and Testing Unit.
Overall Customer Satisfaction
FY2021 FY2022 FY2023

NPS 14 19 20
NPS rankings amongst industry competitors for AmBank customers only 1 1 1
Customer Satisfaction Score (CSAT) (%) 74 79 78
Percentage of CSAT improvement from the previous year (%) 2 5 (1)

Matters Matters
OUR PROGRESS
Customer Complaints
FY2021 FY2022 FY2023
Number of customer complaints 2,343 2,119 2,229

Customer Complaints (%)* 2 3 4
* Based on Customer Relations Survey conducted by third party. FY2023, of those 4% who complained, 72% was resolved.
Marketing & Labelling
FY2021 FY2022 FY2023
Products/ services covered and assessed for compliance (%) 80 36 78

Total number of products/ services 10 11 9
Number of products/ services covered and assessed for compliance 8 4 7
Number of incidents of non-compliance with regulations concerning products and services 0 1 0
Number of incidents of non-compliance with regulations concerning marketing communications 0 0 0
Business Customers Reached
FY2021 FY2022 FY2023
Large Corporate 1,708 1,649 1,676

Mid Corporate 1,931 1,893 1,991
Financial Institution 305 305 298
Business Banking 10,111 12,286 13,224
SMEs 43,146 34,807 38,807
Total 57,201 50,940 52,031
AWARDS
Industry CX Awards we won:
o The Digital Banker – Digital CX Awards 2023 o The Asian Banker – Excellence in Retail Financial
> Excellent in Next-Gen Customer Services Awards – Malaysia Awards 2022
Satisfaction – Southeast Asia > Best Productivity, Efficiency and Automation
> Outstanding Digital CX – Mobile Banking Initiative – Robotics Process Automation (RPA)
> Outstanding Digital CX – Payments
35
MITIGATING ESG & CLIMATE RELATED RISKS
ESG factors and climate change agenda are now among the most significant
aspects that stakeholders look out for in an organisation. As the world moves
towards a sustainable future for all, corporate organisations are expected to
contribute to an equitable future and take immediate climate action to slow
down global warming.
In this instance, financial institutions are facing scrutiny from stakeholders such as shareholders, investors and regulators for their unique role as a key enabler to shift
funds towards sustainable projects and investments. At AmBank, we have incorporated ESG considerations into our lending/ financing evaluation and investment and
advisory practices to contribute to the global efforts of advancing sustainability.
OUR APPROACH
We drive our sustainability agenda by integrating ESG and climate-related Additionally, we reference international industry guidelines such as the International
considerations through providing guidance to our lending/ financing services, Finance Corporation of the World Bank for our Exclusion List, whereby the Group
and investment and advisory practices. We integrate ESG considerations into our would not refinance or extend new/ additional loans/ financing to businesses that
strategy and decision-making processes. fall under our Exclusion List whilst existing exposures from such sectors would
be grandfathered. Our credit risk grade is overlaid with ESG risk grade (ESG-RG),
As a member of the Value-Based Intermediation (VBI) Community of Practitioners, climate change classification and green classification for selected non-individual
we remain guided by the principles of VBI and develop products and services that customers. We continue to enhance our capabilities in this area by remaining
advocate entrepreneurship, community development and environmental well- guided by BNM Climate Change and Principle based Taxonomy (CCPT), VBI
being. This includes making reference to VBI-related tools, such as the financing Sectoral Guides and the recent BNM Climate Risk Management & Scenario Analysis
and investment assessment framework, and sector guides. (CRMSA) Policy Document.
Our investment and advisory practices incorporate ESG and climate

considerations. AmFunds Management Bhd (AFM) and AmIslamic Funds
Management Sdn Bhd (AIFM) are now signatories to the UN Principles of Responsible
Investment (UNPRI). This move demonstrates AFM and AIFM’s commitment to
responsible investment and their aspiration to be part of a global community that
drives the creation of a sustainable and resilient future for generations to come.
ADDRESSING CLIMATE-RELATED MATTERS

Governance
As the negative effects of climate change continue to impact businesses and
economies globally, it is imperative for corporate organisations to take immediate The Board has oversight of AmBank’s sustainability matters and in this financial
climate action and develop climate resilience by mitigating climate-related year, we have started the roadmap for the implementation of BNM’s Climate Risk
risk. In addition to integrating ESG considerations into our strategies, business Management and Scenario Analysis (CRMSA). This will further enhance Board
and operations, we strengthened our climate journey by becoming an official oversight on sustainability matters including climate-related risks and opportunities.
supporter of the Task Force on Climate-related Financial Disclosures (TCFD). The Board has overall accountability and responsibility for driving the Group’s
We are aligning our climate action against the four pillars of the TCFD namely, sustainability agenda and embedding sustainability in the development of group-
Governance, Strategy, Risk Management and Metrics & Targets. Going forward, wide strategies. This includes mitigating potential ESG and having the responsibility
this will enable us to identify our climate-related financial risks and opportunities to consider the strategy to build sustainability/ ESG capacity of the Group.
and allows our stakeholders to make informed decisions about our organisation
and climate action. We aspire to continuously strengthen our climate-related The Board is supported by the senior management and receives update at least twice
disclosures to align with TCFD recommendations in the future. a year on sustainability/ ESG and climate-related matters,. To ensure accountability
of our sustainability performance, the Group CEO and all direct reports to the Group
CEO have been assigned sustainability-related KPIs since FY2021.

Matters Matters
OUR APPROACH
Board Diversity
Strategy
As a forward-looking organisation, we always ensure that the members of the
Board come from diverse backgrounds with various industry skills, knowledge AmBank Group has established strategies to mitigate ESG and climate-related
and experiences to contribute towards the long-term growth of AmBank Group risks. Our strategy includes developing internal controls and identifying the relevant
and to achieve our ESG priorities. The diversity of skills and experience of departments within each line of defence in relation to ESG risk management.
the Board is defined in the Board Charter, which is available in the Corporate We adopt an Exclusion List, whereby the Group would not refinance or extend
Governance Report 2023. new/additional loans/ financing to customers who are under our Exclusion List.
To ensure we operate our business responsibly, we are guided by the Group’s
Building Sustainability Capability and Training ESG Risk Assessment Guideline to assign ESG-RG risk grades to selected non-
individual customers prior to approving any loans/ financing.
We aim to educate and develop the understanding on sustainability/ ESG for
AmBankers including climate-related risks and opportunities. Our sustainability/ We have taken various measures to identify our climate-related risks and
ESG training programmes include focused sessions for the Board and Senior opportunities. This includes engaging with industry experts, BNM and the relevant
Management. In FY2023, we organised various training and awareness authorities, engaging with customers, conducting internal research, and aligning
programmes to upskill our employees on sustainability, climate change and with global climate-related standards such as the Task Force on Climate-related
ESG-related issues and ensure the Board as well as Senior Management are Financial Disclosures (TCFD) framework.
abreast with the latest sustainability developments.
While we acknowledge the threats of climate-related risks, we have also identified
Sustainability and ESG Training for Employees various opportunities to tap into the market of sustainable finance. We strive to
provide innovative and relevant sustainable financing/ services and products
Training programmes tailored for employees included education on to contribute to the nation’s transition to a low-carbon future. For instance, we
sustainability and GHG, to improve AmBankers’ understanding of climate- have a Green Financing guideline that sets out the criteria of green activities.
related risks and opportunities that will be able to support AmBank’s aspiration This provides guidance to Relationship Managers and Credit Risk Officers to
to support a low carbon economy. We conducted focused sessions for determine if a loan/ financing application falls under green financing. We also offer
Risk Managers and Relationship Managers to increase the depth of their a wide range of sustainable products such as solar panels, electric vehicle (EV)
understanding on ESG risks and climate change classification based on BNM rate for Auto Financing, Green Building Financing, Sustainable and Responsible
CCPT Guideline. Investment, Sukuk and Green Bond – Sustainable Series-Climate Tech Fund and
Sustainable Series Health Fund.
The learning goals were focused on sustainability awareness, climate risks
as well as economic impact of climate change. To achieve this, we organised Sustainability opportunities are deliberated by the Group Sustainability Council
engaging sessions including case studies to demonstrate emerging (GSC), which meets on a quarterly basis. Ad hoc meetings are held when urgent
opportunities and risks. deliberations are required before escalating the subject matter to RMCs and Board
members.
As part of continuous education of sustainability and ESG matters for
employees we introduced the Kahoot! ESG Contest to immerse our employees
Risk Management
through gamification. Over 100 questions on ESG-related issues were fielded
throughout the contest period. By taking part in the contest, the participants
benefitted from the knowledge gained as they learned together in a fun yet We are currently building capabilities to conduct climate-related scenario
competitive way at the department and branch level. analysis and stress testing to better understand the impacts of climate change
on our business operations. Our initiative is in line with the requirements of
Going forward, we are designing sustainability training modules that will be the BNM Climate Related Management and Scenario Analysis (CRMSA) policy
rolled out for onboarding and continuous learning programmes with various document. The policy document sets out the principles and requirements on
modes of presentation including via virtual channels. financial institutions’ management of climate-related risks and opportunities. It
aims to enhance the resilience of the financial sector against climate-related
For more information, refer to page 120 Governance Overview Statement in the risks. We are also guided by the Group Risk Appetite Framework, which is
AmBank Group’s Integrated Annual Report 2023. reviewed on a biannual basis.
37
OUR INITIATIVES
1. Exclusion List
• Since 2022, we have ceased

to refinance or provide new or Weapons, Firearms, Explosives
additional loans/ financing to coal-
Manufacturing, distribution, or trade in weapons, firearms, explosives or any other related products
fired power plants and businesses,
where coal or coal-related or services including but not limited to parts, components, or ammunition; other than for a country’s1
activities contributes at least 20% defense, security or strategic purposes.
of the business’s total revenue or
raw materials for its production. Natural Habitat in Violation of PERHILITAN
However, exemptions are allowed Distribution, trade or any activity which would adversely affect the natural habitat of any endangered
for the following situations: plant or animal species that is in violation of PERHILITAN guidelines, including the production of goods
and services derived therefrom.
o Purposes for such loans/
financing are for capital Wildlife in Violation of PERHILITAN
expenditure (CAPEX) that Best Practice also excludes providing financial services that facilitate trading in wildlife or wildlife
precludes coal-related activities,
products that are in violation of PERHILITAN guidelines.
investments or transactions;
o Purposes for such loans/

financing are for contract-
National/ World/ UNESCO Heritage Sites
specific loans/ financing Activities or operations that could have an adverse impact on any National/ World/ UNESCO heritage
that is clearly identified to sites.
preclude coal-related activities,
investments or transactions; or
Forced Labour Or Child Labour
o Use of the loans/ financing can Activities or operations which engage in harmful or exploitative forms of forced labour or child labour.
be controlled such that the
loans/ financing would not be
used for coal-related activities,
investments, or transactions.
Sex-Related Products Or Services Or Adult Entertainment
Note: In supporting energy security Provision of sex-related products or services or adult entertainment. (e.g. prostitution, strip clubs, host
for the nation, loans/ financing of and hostess clubs, pornography)
coal-related activities, investments or
transactions to national power/ energy
entities is allowed provided that there Coal2
are adequate mitigating factors and are
• Coal-fired power plants
limited to the refinancing of facilities for
• Where coal or coal-related activities contribute 20% or more of the counterparty’s total revenue
existing projects.
• Where coal or coal-related products constitute 20% or more of the counterparty’s raw materials for
its production
• Ceased to knowingly engage in
providing additional or new loans/
financing to customers or directly 1. Weapons, firearms, explosives: countries include foreign countries, in which governments are considered acceptable as purchasers under
Malaysian laws or regulations.
towards activities, investments 2. In relation to the granting of new/ additional loans/ financing to counterparties:
or transactions that are deemed i. Financing is allowed provided that the purposes for such loans/ financing are for (i) CAPEX financing or (ii) contract-specific loans/
to be incongruent with AmBank financing that is clearly identified to preclude coal-related activities, investments or transactions or (iii) the use of the financing is able to
Group’s sustainable loans/ financing be controlled such that the loans/ financing would not be used for coal-related activities, investments or transactions
ii. Financing of coal-related activities, investments or transactions to national power/ energy entities is allowed with CACC approval and
aspiration. adequate mitigating factors but is limited to the refinancing of facilities for existing projects.
• Continued to honour existing

contractual loans/ financing The Exclusion List is reviewed and deliberated at management committees and approved by the Board to ensure its
commitments, but no additional or
relevance, in line with the Bank’s aspiration as well as international guidance, such as the International Finance Corporation
new loans/ financing were provided.
(IFC) of the World Bank.

Matters Matters
2. ESG Risk Grade and Climate Change Classification 4. Collaboration with Property Partners on Green Financing Facilities
• Assessed ESG risks of selected non-individual customers based • Collaborated with Kerjaya Prospek Property Berhad by providing RM100 million green
on the Group’s ESG Risk Assessment (ESG-RA) Guideline. We financing facility to fund the development of Courtyard by Marriot Hotel at Bloomsvale, an
would seek to understand the customers’ plan to mitigate ESG upcoming mixed development in Kuala Lumpur.
risks should they are accorded high ESG-RG. This will further
accelerate our sustainable financing practices and help our • Partnered with Sime Darby Property Berhad to launch a digital and green financing solution
for homebuyers by offering homebuyers a new sustainable financing option for the purchase
customers to transition to low ESG risk practices.
of Sime Darby Property homes. The facility consists of a holistic ownership ecosystem that
• Accord Climate Change Classification (CC-C) to selected loans/ includes a simplified loans/ financing application process.
financing in accordance with BNM CCPT issued on 30 April
2021. For more information, refer to page 70-71 in AmBank Group’s Integrated Annual Report 2023.
• Enhanced the ESG-RG assessment to include CC-C
considerations.
5. Funds Management
• Mandatory escalation of High ESG-RG transactions to the Credit
and Commitments Committee (CACC).
• During the annual review of customers which are subjected • Continued assisting customers to raise funds which comply with SRI/ ESG principles:
to ESG-RA, we would continue to seek to understand the
customers’ plans to mitigate ESG risks.
• We will further enhance our ESG-RA process to evaluate the PO S I T I V E C H A N G E F U N D S USTA INA B L E OUTC OME S
customers’ ESG risks and to transition towards better ESG GLOB A L E QUIT Y F UND
27 May 2021
practices.
Gains exposure to high quality global 23 November 2022
companies that address society’s Invests predominantly in Columbia
3. Green Products
challenges that are poised to prosper Threadneedle (Lux) Sustainable
in the long term, as they possess Outcomes Global Equity
• Provided preferential rates for green-certified properties, strong fundamentals for future
electric vehicles and solar panel financing growth
H E A LT H F UND
• Offered sustainable and responsible investments (SRI)/ ESG-
linked funds, which are managed by AmInvest and focused on C LI M AT E T E C H F U N D 28 June 2022
environmental and socially responsible investments
Invests in global healthcare
28 September 2021 companies such as digital diagnostics
• We have developed our internal guidance on green financing
with qualifying activities that meet the following objectives: Invests in global companies with providers, physiotherapy services and
solutions that mitigate climate health insurers, capitalising on health
i. Minimise degradation of the environment; or change risk and its effects or enable megatrends as well as innovators
ii. Zero or low GHG emission; or climate change adaptation improving the standards of healthcare
iii. Safe for use and promotes healthy and improved
environment for inhabitants; or
iv. Conserves the use of energy and natural resources; or A MB ON IS L A M
v. Promotes the use of renewable energy resources; or NUTRITION FUND
vi. Promotes climate change adaptation; or 3 January 2023
vii. Promotes transitional activities towards a low-carbon 23 March 2022
economy. This fund was reintroduced in 2023 as a
Invests in Pictet-Nutrition (Target
SRI fund and incorporates sustainability
Fund), which invests in global
considerations in securities selection
companies that contribute to or
by investing in securities issued by
benefit from nutrition value chain,
companies that are well governed
especially the quality of nutrition, and with positive environmental and
access to nutrition and sustainability responsible investments to attract a
of food production new investor base
39
OUR INITIATIVES
• Launch of GVL’s ASEAN Green SRI Sukuk Murabahah: 7. Industry Capacity Building
AmBank assumed the joint lead manager role for Global Vision Logistics Sdn
AmBank participates actively in industry stakeholder engagement activities to
Bhd (GVL)’s RM1.5 billion ASEAN Green SRI Sukuk Murabahah programme,
contribute to ESG and sustainability development within the industry.
which was launched in March 2023. The proceeds of the programme will
fund the development of the Shah Alam International Logistics Hub (SAILH),
• AmBank Islamic’s CEO is the Chairman of the Financial Industry Collective
the first green-certified logistics hubs in the country and one of the largest in
Outreach (FINCO) Steering Committee and a member of the VBI Community of
ASEAN. The first tranche comprising RM620 million unrated Islamic medium-
Practitioners. He was also the 1st Chairman for the VBI Sectoral Guide Working
term notes target to be issued in July 2023, with 25% to be subscribed Group to develop sectoral guidelines for palm oil, renewable energy and
by AmBank (M) Berhad. The logistics hub is expected to attain the local energy efficiency.
GreenRE silver rating and gain global recognition for the Excellence in
Design for Greater Efficiencies (EDGE) Advanced and EDGE Zero Carbon • AmBank Islamic is a member of the VBI Community of Practitioners, whereby
its personnel are members of VBI Sectoral Guide Working Group to develop
For more information, refer to page 71 in AmBank Group’s Integrated Annual sectoral guidelines for palm oil, construction & infrastructure and transportation
Report 2023.
& storage under Cohort 1, 2 and 3 respectively.
6. Managing Climate-related matters • AmBank Islamic CEO was appointed as the Co-Chairman of the Sub-Committee
on Risk Management of the BNM and SC-led Joint Committee on Climate
• Building capabilities to conduct climate-scenario analysis and stress testing, Change (JC3).
which includes tools for portfolio profiling.
• Held a knowledge sharing session with the Malaysian Institute of Certified
• Enhanced the Group’s Green Financing Guideline by incorporating principles Public Accountants (MICPA) on 17 May 2022 as part of MICPA’s Sustainable
of, among others, MyHijau and BNM’s Climate Chance and Principle-based Finance Series. AmBank Islamic CEO shared insights of Islamic Finance vis-à-
Taxonomy (CCPT). vis sustainability and how organisations can embark on their journey towards a
positive future to approximately 130 professional accountants.
• Developed comprehensive ESG and climate risk training for sustainability
capacity building and awareness for the Board and employees.
8. Greening Value Chain (GVC) Programme to incentivise and assist SMEs
• Developed AmBank Group Responsible Investment Plan that is in line with
our sustainability agenda. As part of our commitment to tracking our Scope 3 emissions, we have signed a
MOU with Pantas Software Sdn Bhd (Pantas) for GVC Programme to incentivise
and assist SMEs in implementing impactful, long-term change to green their
operations. AmBank is Pantas official banking partner for the GVC programme and
will be providing relevant sustainability-linked financing products to SMEs. The
partnership aims to provide innovative financing solutions to SMEs that strengthen
climate resilience, reduce greenhouse gas emissions and contribute to a more
sustainable future. We may leverage BNM Low Carbon Transition Facility (LCTF) to
assist SMEs to transition towards low carbon practices.

Matters Matters
OUR PROGRESS
Maintained Disbursed
RM14.7 billion
“AA” rating RM1.94 billion of loans/ financing disbursed were assessed
for MSCI ESG of green loans/ financing as Low ESG Risk Grade
56%
approved and accepted loans/ financing categorised RM6.5 billion
as C1 (climate supporting) under Climate Change of SRI Sukuk arranged by AmInvestment Bank
Classification.
AWARDS
The Edge ESG Asian Private Banker

Awards 2022 Awards 2022
o AmInvestment’s Sustainable Series Fund awarded 4 gold awards and 2 silver awards • Best Thematic Provider for AmInvestment’s
under Best Impact Fund Category Health Fund, a partnership with Pictet Asset
Management
o Sustainable Series – Climate Tech Fund won
Best Impact in Climate Action (Gold)
Best Impact in Healthy Ecosystem (Gold)
Best Impact in Resource Security (Gold)
o Sustainable Series – Positive Change Fund won

Best Impact in Basic Needs (Gold)
Best Impact in Human Development (Silver)
Best Impact in Resource Security (Silver)
41
FINANCIAL INCLUSION
Promoting financial inclusion is crucial for building an inclusive and equitable

society. As a trusted financial institution, we recognise our responsibility to
provide accessible financial services to all communities. By fostering financial
inclusion, we contribute to the resilience and strength of our economy.
We support the underserved and small businesses by providing access to financial services and literacy, both of which are essential in uplifting the socio-economic
status of the underbanked. We aim to bridge the gap between economic opportunity and outcome through financial inclusion, which is recognised as a key pillar of
socio-economic development. By serving the small and medium enterprises (SMEs), we can contribute to the creation of job opportunities while improving our long-term
growth, as we continue to tap into the underbanked market.
OUR APPROACH
Being in the financial industry allows us the unique ability to empower change. As such, we are proactively promoting financial inclusion and shared prosperity. We
assist the underserved segment by offering loans/ financing and capacity building to SMEs. This is also manifested by inter alia a dedicated unit – Retail SME – to drive
the penetration of micro finance.
We offer capacity-building for businesses through various initiatives to allow them to build business networks and improve their competitiveness through upskilling. Our
initiatives include the AmBank BizCLUB, AmBank BizCONFERENCE and AmBank BizRACE. Our services also enable businesses to have access to alternative funding
sources such as government grants and the road to capital markets, where we provide consultation and advice on gaining access to capital market funds.
Beyond that, we offer financial access to vulnerable communities, especially those from the B40 income segment. Our products also include offering loans/ financing
for affordable homes.
OUR INITIATIVES
SME Sector – Loans/ Financing and Other Banking Products/ Services o Implemented an integrated digitalisation in the Supply Chain Finance (SCF)
for SMEs which enabled our market expansion to cover micro-SMEs and
• Continued providing loans/ financing to SMEs as part of our commitment to SMEs together with supply chains to better support their trade activities
promoting financial inclusion. and cash flow
• Supported government SME schemes such as Credit Guarantee Corporation o Became the first bank in Malaysia to allow a fully end-to-end digital on-
(CGC) and Skim Jaminan Pembiayaan Perniagaan Berhad (SJPP). boarding of new SME customers
• Signed a two-year strategic partnership with Persatuan Usahawan o Online banking solution that helps manage their debt burden
Maju Malaysia (PUMM) as the exclusive banking partner for PUMM. The
partnership aims for AmBank to strengthen the financial awareness of more o AmAccess Biz, a banking on-the-go digital platform for SMEs businesses
than 3,000 of PUMM’s members from various business sectors such as cash management solutions such as cross-border remittance and
construction, information technology, logistics, F&B and advertising. It will customised approval workflow
also enable PUMM members to easily gain more access to financing and
AmBank’s various products that will optimise their business. • Entering Phase 3 of SME Deposits Cash Rewards Campaign, offering SMEs
cash rewards of up to RM320,000 when using their AmBank’s Business
• Embracing digital technologies to reach out to our customers by expanding Account for their daily transactions.
access to financial services. We have enhanced our digital presence to drive
financial inclusion to meet the needs of customer segments, particularly the
SMEs.

Matters Matters
FINANCIAL INCLUSION
OUR INITIATIVES
• Offered consultation and advice in obtaining funds through initial public SME Sector – Digital and Ecosystem Partnership
offering (IPO), bonds, sukuk and other capital market instruments.
• Aided SME customers through our AmAccess Biz which enables them to
• Continued collaborating with CGC to offer financing facilities of up to RM1 manage daily banking activities with features such as Payroll & Statutory Body
million for the SPG Revival Scheme/ -i. This facility, guaranteed 70% by payments, FPX, DuitNow, JomPAY and foreign telegraphic transfers. Customers
CGC and approved within a day, aims to provide working capital to SMEs are given digital tokens to view and authorise their banking transactions via
recovering from the COVID-19 pandemic. SMEs can access financing their registered mobile phones.
without collateral, as AmBank covers the CGC guarantee fee. Additionally,
we extended RM400 million in financing facilities through the SME Portfolio • Unveiled the new AmBank Business Cards for SMEs which are the AmBank
Guarantee Scheme under our Retail SME channel by 31 March 2023. Visa Infinite Business and Visa Platinum Business Card, in partnership with Visa
which offer a wide array of value-added benefits suitable for SMEs to manage
• Collaborated with Sabah Development Bank Berhad to offer financing daily expenses more effectively.
as part of the Sabah SME Guarantee Scheme. A total loan amounting to
RM380,000 has been distributed to help SMEs in Sabah that were affected • Partnered with Lazada to provide solutions and additional facilities to the micro-
by the pandemic to navigate through the challenges. SMEs sector by offering up to RM 2 million of financing to local entrepreneurs
and Lazada Malaysia’s vendors to expand and sustain their businesses online.
SME Sector – Capacity Building
• Collaborated with Maxis for the SME-in-a-Box (SMEIB) product, offering SMEs
• Organised events through the AmBank BizCLUB to enable SMEs and a bundled proposition with exclusive financial and digital solutions. In addition,
private business owners to engage directly with business leaders and the collaboration also introduced mTAP, a secure contactless payment solution
trainers on topics relevant to their businesses such as leadership, business where mobile devices are used as a payment acceptance terminal to process
health, employee readiness and business culture. debit and credit card transactions via PayNet.
• Launched the AmBank BizRACE 4.0 programme to enable customers to • Adopted the Mobile Application Terminal (MAT) which facilitates off-site car
grow in key areas of IR 4.0 and Digitalisation. Collaborated with various financing applications by improving the application process from the four-day
government agencies and other organisations to provide the participating turnaround time to within a day.
SMEs with development sessions, one-to-one consultations and grant
application guidance. Affordable Housing
• AmBank BizHUB SME, a cloud-based platform and an integrated online • Continued facilitating government affordable home financing schemes such
marketplace for small and micro-businesses to digitalise their business, as Perumahan Rakyat 1Malaysia – Skim Pembayaran Fleksibel (PR1MA SPEF),
gain competitive advantage through an additional sales channel, increase Skim Rumah Pertamaku (SRP) and BNM Affordable Homes Schemes 1 & 2.
productivity and efficiency, as well as enabling cost optimisation through
improved visibility of their business spend, ultimately resulting with revenue
growth and profitability.
• Promoted consistent learning for SMEs via seminars, forums and events
which are backed by BNM, AIBIM and SME Corporation:
o Collaborated with Capital Markets Malaysia (part of Securities

Commission Malaysia) to provide online briefing to SMEs on the topic of
ESG
o Conducted the “Road to IPO/ Capital Markets” initiative to educate

and guide our SME clients of the process of becoming a publicly listed
company. We guide our clients with regards to the surrounding benefits
of embarking and tapping on the capital markets, provide them with
insights on the potential risks and regulatory requirements
43
FINANCIAL INCLUSION
OUR PROGRESS
Almost RM27 billion of loans/ financing to More than 300 SMEs participated in the IR4.0, More than RM19 million worth of grants for
SMEs. Digitalisation and Halal Quest. AmBank BizRACE participants approved by MIDA.
8,217 SMEs and entrepreneurs participated 155 participants in Capital Market Malaysia’s 536 businesses signed up for AmBank BizHUB
in BizCONFERENCE. programme. since its launch.
RM1.4 billion disbursed under the affordable RM1.21 billion of auto-financing for B40 RM12.8 million distributed to 532 customers
home financing schemes with 5,916 homes segment. under SME Portfolio Guarantee in collaboration
purchased in FY2023. with CGC.
Empowering SMEs Other initiatives for community benefits
FY2021 FY2022 FY2023 FY2023

Total loans/ financing to the SME sector (RM bil) 22.8 24.9 26.7 Affordable housing loans/ financing schemes
Percentage of Group’s total loan portfolio made up (such as PR1MA SPEF; Skim Rumah Pertamaku)
of SMEs 20.2 20.8 20.5 Total disbursement amount of loans/ financing (RM mil) 1,400*
Number of SMEs and entrepreneurs upskilled via Total number of affordable homes purchased 5,916*
AmBizClub 7,138 11,230 12,180
Auto financing for B40 communities
Total number of SMEs and Entrepreneurs
participated in BizConference 1,318 5,382 8,217 Total disbursement amount (RM mil) 1,211
Total number of SMEs participated in AmBank

BizHub N/A 346 536
Total number of participants in programme with
* Total cumulative disbursement since FY2020 for affordable homes: RM4.6
Capital Market Malaysia N/A N/A 155 billion with 21,752 affordable homes purchased.
AWARDS
Awarded the Best SME Bank by numerous organisations for commitment in supporting the growth and development of
SMEs in Malaysia:
o The Asset Triple A Islamic o Global Business Review o Global Islamic Finance
Finance Awards 2022: Magazine Awards 2022: Awards 2022:
Best Islamic SME Bank Best Islamic SME Bank Best Islamic Bank for SME
Malaysia (for the second Malaysia Banking
consecutive year)

Matters Matters
RESPONSIBLE CONSUMPTION
Many businesses and stakeholders globally are already experiencing the

impacts of the climate emergency. The increasing concern over environmental
issues has urged business organisations and financial institutions to play a
role in mitigating these problems.
It is imperative to adopt responsible consumption and proactive environmental measures as they are essential to the sustainability of our growth and shareholder returns.
With a holistic approach towards responsible management of our consumption of resources, we can create positive long-term value to preserve people and the planet.
OUR APPROACH
At AmBank Group, we acknowledge the scientific consensus on climate change and other
environmental issues. To this end, we are committed to minimising our business’s impact on the
environment by actively identifying and implementing measures to reduce our environmental First Malaysian financial
footprint with responsible consumption practices and policies. Our environmental practices institution to be awarded
remain guided by AmBank Group’s Environmental Policy, which ensures our full compliance the Energy Management
with environmental laws and regulations. Gold Standard (EMGS)
Certification
In May 2022, we were the first Malaysian financial institution to be awarded the Energy
Management Gold Standard (EMGS) Certification. Menara AmBank was awarded a 1-star rating
which requires seven aspects to be assessed, namely Management, Organisation, Process,
Information, Financial, Corporate Responsibility and Achieving. Going forward, AmBank is
aiming for a 2-star rating. We have also increased our digitalisation efforts to reduce paper Participated in the nation’s
consumption by realigning our business processes and centralising various job functions. This inaugural carbon credit
will not only accelerate efficiency but also lessen our use of paper. auction on the Bursa
Carbon Exchange (BCX)
On 16 March 2023, we participated in the nation’s inaugural carbon credit auction on the Bursa
Carbon Exchange (BCX) and successfully bid for carbon credit, rendering AmBank Islamic the
first Islamic bank in Malaysia to successfully bid for carbon credit. As the world’s first Shariah-
compliant carbon exchange, the BCX allows trading of standardised contracts with underlying
carbon credits from climate friendly projects and solutions to offset our carbon emissions and
subsequently meet our long-term strategies and targets to achieve Net Zero Carbon.
45
OUR APPROACH
1 Principle 1 4 Principle 4
We are committed to meeting all our environmental We will practise responsible and green procurement
compliance obligations such as relevant to the extent possible.
environmental legislations, regulations and
standards to which the Group subscribes.
Key Principles of 2 Principle 2 5 Principle 5
AmBank Group’s We are committed to the protection of the As part of our sustainable financing aspiration, we
Environmental environment including the prevention of pollution. shall strive to reduce adverse environmental and
Policy social impact resulting from our lending, financing
and investment activities.
We aspire to continuously improve our environmental Environmental protection is the responsibility of all
performance in ways that are commercially viable our employees.
and valued by our management and stakeholders.
We strive to implement initiatives that not only reduce our overall carbon footprint, but also mitigate the risks associated with climate change. The following covers the
scope of our greenhouse (GHG) initiatives:
We are committed to implementing initiatives that reduce the Group’s overall carbon footprint and contribute toward addressing the risks associated with climate
change. The scope of our greenhouse (GHG) initiative covers:
Scope 1 Scope 2 Scope 3
Direct emissions from the fuel consumption of

Indirect emissions from electricity consumption Indirect emissions from employee travel
company-owned vehicles
We closely monitor our carbon reduction progress on a year-to-year basis and target to reduce carbon emissions by 24% against baseline FY2019. Our Group Energy
Policy is the cornerstone for effective energy management throughout our buildings and assets. It underpins our commitment to responsible energy management and
sustainable development. The Energy Management Practice Guide was issued in November 2021 to provide directions on effective management of the Group’s energy
consumption, in line with the Group Energy Policy.

Matters Matters
Key Principles of AmBank Group’s Energy Policy
We are committed to promoting energy efficiency management We ensure the compliance of energy management carried out by the
continuously. Group with the Efficient Management of Electrical Energy Regulations 2008
[P.U.(A)444] as regulated by the Energy Commission of Malaysia and other
relevant regulations and laws enacted in Malaysia.
2 Principle 2
We are committed to improving cost effectiveness continuously. 8 Principle 8
We ensure that any equipment required for any of AmBank Group’s buildings
3 Principle 3 complies with the AmBank Group Procurement policy and Supplier Code of
Conduct.
We are committed to improving environmental preservation and
conservation.
9 Principle 9
4 Principle 4
We ensure that energy management related data is filed, analysed and
updated continuously in order to achieve the objectives and targets set for
We encourage innovation through the usage of Green Technology and the energy management programme carried out by AmBank Group.
Renewable Energy whenever possible.
We aspire to continuously improve energy management while maintaining We are committed to carrying out an energy-management related programme
a safe working area. within AmBank Group to cultivate an energy-management culture continuously.
6 Principle 6
11 Principle 11
We ensure that the energy management carried out by the Group is in

accordance with the Group Environmental Policy, Group Environmental We are committed to provide the necessary resources to carry out any of
Resource Management Practice Guide and Group Sustainability Framework. AmBank Group’s Energy Management Programme.
In addition to producing clean energy from our solar panels at the Damansara Fairway 3 (DF3) building, we have also subscribed to green and renewable energy sources
for our electricity consumption across our operations in Peninsular Malaysia and Sarawak. This enables us to balance our carbon emissions as an important element in
our long-term strategies and objectives of achieving Net Zero Carbon.
47
OUR INITIATIVES
AmBank Group executed various initiatives to responsibly manage its consumption of carbon emissions, waste and plastics while advocating environmental awareness
amongst its employees.
Scope 1: Direct Emissions From Fuel Consumption Optimising Our Management Of Waste
• Reduced the total number of vehicles belonging to AmBank Group from 27 to • Continued to monitor the top 20 printing users at head offices and branches to
24. manage printing and reduce paper consumption. The amplification of digitalisation
• To reduce our carbon footprint, we aim to convert more of our fleet vehicles to together with the decreasing usage of paper necessitates a realignment of our
hybrid vehicles. To date, three of our 24 vehicles are hybrid vehicles. business and work processes.
• Promoted the use of passbook-less transactions among customers, whenever
Scope 2: Indirect Emissions From Electricity Consumption possible. However, customers without access to AmOnline are encouraged to
maintain their passbooks. We also encouraged clients to utilise e-statements
• Implemented the Energy Management Practice Guide to ensure our energy and email communications to reduce paper usage. Additionally, AmBank also
consumption is aligned with the Group Energy Policy. implemented digital letterhead and signatures as part of its paperless initiative.
• Energy Management Forum meetings were held to oversee the energy • Encouraged employees to practise waste segregation by implementing recycling
management in AmBank Group including energy consumption and performance facilities in Menara AmBank, Bangunan AmBank Group, Wisma AmFirst and DF3.
as well as management of measures and initiatives. Chaired by the Group • Engaged a licensed third-party paper recycling vendor to shred documents securely.
Chief Financial Officer (GCFO), EMF drives top-performing energy management • Continuation of no single-use plastics at three of AmBank’s head offices, namely
systems and energy conservation measures across the Group. EMF shall be held Menara AmBank, Bangunan AmBank Group and Wisma AmFirst.
quarterly or at least twice annually. All the conventional lights in our head office • Conducted Paper-Free Week Challenge to encourage paperless culture. The
buildings and branches have been replaced with energy-efficient LED lights. winners have reduced a total of 45,345 sheets from their paper consumption. This
• Our DF3 building is installed with solar panels, which generate renewable reduction is equivalent to saving 5.4 trees from being destroyed.
energy, offsetting our carbon emissions.
• Continued to subscribe to TNB’s Green Electricity Tariff (GET) to offset our Raising Environmental Awareness
carbon footprint as well as maintaining our Renewable Energy Certificate (REC)
with Sarawak Energy in Sarawak. • Employees and stakeholders were updated on our environmental performance
• Ensured all new air-conditioners in our branches and buildings have 3- or 4-star through various channels such as via email, internal portal, branches’ television,
energy efficiency label. Menara AmBank’s digital board and ATM screens.
• On 25 March 2023, we participated in the Global Earth Hour Campaign in • A Virtual Energy Corner was created in our internal portal to raise employees’
addition to observing Earth Hour monthly since April 2022 to advocate climate awareness of the Group’s energy management initiatives and achievements.
action. Lights were switched off in the following AmBank buildings: • An Environmental and Energy Corner is also available at Menara AmBank’s
o Bangunan AmBank Group, Jalan Raja Chulan Foodcourt located at Level 12 to raise employees’ awareness on environmental
o Menara AmBank, Jalan Yap Kwan Seng sustainability including waste and energy management.
o Wisma AmFirst • Organised webinars for employees to increase awareness on energy consumption,
o Damansara Fairway 3 (DF3) climate change, waste management through topics such as:
o Bangunan AmBank Group, Kuching - How To Reduce Single-Use Plastic Consumption
- Climate Change – What to Focus?
Scope 3: Indirect Emissions From Employee Travel - Basic Carbon Calculation
- Great Minds Recycle E-Waste
• We continue to provide outsourced shuttle services for employees commuting - Are You Recycling Correctly?
between Wisma AmFirst and Glenmarie LRT station and DF3 to Kelana Jaya LRT - Upcycling DIY Workshop – Fruit Enzyme Cleaner
station.
• We also engaged travel agents to track carbon emissions generated from airline
bookings made for business-related travel using the International Civil Aviation
Organisation’s Carbon Emissions Calculator.

Matters Matters
OUR PROGRESS
Overall GHG Emissions
• FY2023’s carbon emission reduction against baseline FY2019* was 30%, which exceeded our reduction target of 24%. With carbon offset derived from solar power,
Green Electricity Tariff (GET) and Renewable Energy Certificate (REC), we further reduced our carbon emissions to 93% against the baseline.
Total GHG Emissions Total GHG Emissions by Entity Carbon Offset

(tCO2e)** (tCO2e)
AmBank AmBank Islamic AmInvestment Bank
48
13,876
45
18,178
17,146
45
880
16,088
15,298
664
656
15,528
14,702
1,741
30
FY21 FY22 FY23 FY21 FY22 FY23 FY21 FY22 FY23 FY21 FY22 FY23 FY21 FY22 FY23
Derived from solar panels, Green
*Baseline FY2019 = 22,184 Electricity Tariff and Renewable Energy
Certificate
Note:
The Electricity Carbon Emission Factor is obtained from Grid Emission Factor (GEF) in Malaysia, 2017-2019.
** The total GHG emissions include GHG emissions for AmFunds Management, AmIslamic Funds Management and AmGeneral.
Scope 1: Direct Emissions From Fuel Consumption
GHG Emissions from Petrol Consumption Petrol Consumption Per Year

(tCO2e) (Litres)
102
44,773
102
44,773
102
44,773
70*
30,792
25,460
58
18,077
41
FY21 FY22 FY23 FY21 FY22 FY23
* The increase in FY23 is due to resumption of office operations post MCO.
Target Actual
49
OUR PROGRESS
Scope 1 GHG Emissions by Entity (tCO2e) No. of Vehicles/ Vehicle Composition

41
29
26
27
37
25
23
24
24
21
16
6
12
5
3
3
AmBank
AmBank
AmBank
Islamic
AmInvestment
Bank
AmBank
AmBank
Islamic
AmInvestment
Bank
No. of Vehicle
Hybrid
Non-Hybrid
No. of Vehicle
Hybrid
Non-Hybrid
No. of Vehicle
Hybrid
Non-Hybrid
AmBank
AmInvestment
Islamic
Bank
SCOPE 2: INDIRECT EMISSIONS FROM ELECTRICITY CONSUMPTION

• 5% reduction in carbon emissions.
• 0.084 mtCO2e utilised per square meter of office space.
• 79,113 kWh saved through LED lighting initiative.
• 81,850 kWh energy generated from solar panels from April 2022 to March 2023, offsetting about 63.84 mtCO2e of carbon emissions for FY2023.
• 17,062,750 kWh (93%) of Green Electricity from TNB consumed throughout AmBank Group’s operations in Peninsular Malaysia, bringing about a carbon offset of
13,308.95 mtCO2e of carbon emissions for FY2023.
• 2,267,789 kWh (100%) of energy consumption from operations in Sarawak was provided by a hydroelectricity source, reducing 503.45 mtCO2e of carbon.
FY2021 FY2022
Scope 2 GHG Emissions (tCO2e) (Restated) (Restated) FY2023
AmBank 17,088 15,244 14,463
AmBank Islamic 40 37 34
AmInvestment 863 652 623
AmFund Management 97 76 73
AmIslamic Funds Management 6 4 3
Total 18,094 16,013 15,196
Note:
Suruhanjaya Tenaga (Energy Commission) just published revised
Previous Emission Factors New Emission Factors
Grid Emission Factors from 2017 - 2019. Hence, we have to restate (MGTC’s 2017 CDM Electricity (as published by Energy
our Scope 2 emissions based on this revision. Region Baseline For Malaysia) Commission)
Peninsular Malaysia 0.585 0.780
Sabah 0.525 0.527
Sarawak 0.330 0.222

Matters Matters
Actual vs. Target Scope 2 GHG Emissions (tCo2e) Total Electricity Consumption (kWh)
AmBank Group Head Office Buildings

18,623
18,094
25,434,294
22,942,505
16,498
16,481
21,403,212
16,013
8,172,011
15,196
7,007,255
6,992,412
FY21 (Restated) FY22 (Restated) FY23 FY21 FY22 FY23 FY21 FY22 FY23
(Restated) (Restated) (Restated) (Restated)
Target Actual
Total Electricity Consumption (RM’ 000) FY2021 FY2022 FY2023

AmBank 10,963 9,858 10,115
Total 11,656 10,374 10,662
Total Electricity Consumption (kWh)
Electricity consumed from external provider Electricity generated from renewable source Electricity purchased from renewable source
25,396,073
86,019
19,330,539
81,850
18,607,499
4,248,987
1,990,823
38,221
FY21 FY22 FY23 FY21 FY22 FY23 FY21 FY22 FY23
51
OUR PROGRESS
(kWh) (kWh/FTE)
Head Office Buildings FY2021 FY2022 FY2023 FY2021 FY2022 FY2023
Menara AmBank, Jalan Yap Kwan Seng (MAB) 1,550,028 1,364,965 1,467,915 815 627 682
Bangunan AmBank Group, Jalan Raja Chulan (BAG) 1,428,555 973,749 894,772 822 568 611
Menara MBF, Jalan Sultan Ismail (MBF) 229,675 - - 994 - -
Plaza See Hoy Chan, Jalan Raja Chulan (PSC) 35,200 - - 1,006 - -
Damansara Fairway 3 (DF3) 4,267,976 3,912,713 3,902,277 26,675 22,358 20,115
Wisma AmFirst, Kelana Jaya (WAF) 514,841 534,305 623,597 528 541 489
Wisma AmBank, Jalan Pudu (WAB)* 145,737 206,680 118,694 - - -
Total 8,172,012 6,992,412 7,007,255 884 1,383 1,379
* Data for WAB was between Apr 2022 - Jan 2023 as we disposed this building in Jan 2023.
SCOPE 3: INDIRECT EMISSIONS FROM EMPLOYEE TRAVEL

Scope 3 Actual vs. Target Emissions (tCO2e)
• In FY2023, there was a 38% reduction in Scope 3 emissions against FY2019.

However, there was a 670% rise in FY2023 Scope 3 emissions compared 332
316
to FY2022, mainly due to the lifting of travel restrictions post COVID-19’s
300
262
Movement Control Order (MCO). Nonetheless, the numbers were still below
AmBank Group’s targets.
• Reduced 97,782.90 km of single passenger car trips with shuttle service,

saving a net of 59,949.10 km of distance travelled by individual vehicles
(approximately 7.58 tCO2e saved through shuttle service). There was an
34
26
increase in shuttle trips due to more staff working from the office.
FY21 FY22 FY23

Target Actual
RESPONSIBLE WATER MANAGEMENT
Conserving water is vital to the longevity of our planet. We strive to reduce our water consumption by installing self-closing taps at Menara AmBank and Bangunan
AmBank Group. Currently, we track our water consumption by monitoring our monthly payment of water bills. In FY2023, our water consumption for all branches and
main buildings* was 73.6 megalitres.
* The main buildings exclude Menara AmBank, Wisma AmFirst and Bangunan AmBank Group. No water bill received from building owner, only fixed service charges hence the water usage cannot be
quantified in this FY2023.

Matters Matters
RESPONSIBLE WASTE MANAGEMENT
• AmBank is in the process of developing its EMS (ISO14001: 2015) for Menara AmBank. For instance, an awareness programme for waste management has been initiated
especially on scheduled waste management.
• 41% increase in the use of savings passbooks, as customers who did not have access to online services are still required to use saving passbooks. We will continue to
push customers to opt for paperless transactions.
• 1% reduction in A3 and A4 paper consumption.
• RM4,756.85 in recovery value of paper waste recycled by our third-party recycling vendor. We will increase our efforts to reduce our consumption of paper across our
operations.
• Accumulated 4.215 tonnes of recyclable waste from our Recycling Bins in Menara AmBank, Bangunan AmBank Group and Wisma AmFirst in FY2023, to be recycled by
our third-party recycling vendors.
No. of Saving Passbook (‘000) A3 & A4 Paper Consumption (no. of sheets - mil)
52
14
13
44
41
10
30
29
28
Target Actual
Paper Waste Collected
Breakdown of Paper Waste Collected (tonnes) FY2021 FY2022 FY2023

Menara AmBank, Jalan Yap Kwan Seng (MAB) 5 4 5
Bangunan AmBank Group, Jalan Raja Chulan (BAG) 7 4 7
Damansara Fairway 3 (DF3) 0 0 0
Wisma AmFirst, Kelana Jaya (WAF) 0 1 2
Other (Record Management Service Provider) 60 39 61
Total 72 48 75
Types of Waste Recycled
Recycled Waste (tonnes) by Type FY2021 FY2022 FY2023

Plastic 0.015 0.020 0.302
Paper 1.977 2.041 1.801
Cardboard 1.348 1.674 2.031
Can 0.052 0.043 0.081
Metal 0.066 0.010 0
Total 3.593 3.968 4.215
53
Dato’ Sulaiman Mohd Tahir, Group Chief Executive

Officer of AmBank Group and Datuk Seri Mahadi Bin
Che Ngah, Mayor of Kuala Lumpur standing next to
the enhanced Recycling Reverse Vending Machine
(RRVM) at the Kuala Lumpur City Hall (Menara DBKL 1).
As part of its sustainability journey, AmBank Group
introduced the Trash-to-Cash online reward system
via DuitNow QR Scan which is embedded in this
RRVM. For every can, drink box and plastic bottle
recycled, RRVM will reward the user 5 cents per item
which can be claimed by displaying their DuitNow QR
code via AmOnline or preferred banking application.
OUR PROGRESS
Types of Waste Generated
We have implemented several practices such as waste segregation to promote recycling. We also promote Zero Waste lifestyle among AmBankers to reduce domestic
waste. All our domestic waste is managed by the local councils at the designated landfills.
Waste Diverted from Disposal (tonnes)
FY2021 FY2022 FY2023

Total 76.4 Total 13.2 Total 17.8
72.8
13.6
9.2
4.0
4.2
3.6
Paper Others (recycled Paper Others (recycled Paper Others

waste) waste) (recycled waste)
ENVIRONMENTAL ACHIEVEMENTS
• Zero environmental non-compliance

Matters Matters
RESPONSIBLE PROCUREMENT
Having a balanced and responsible procurement system ensures that AmBank’s

goods and services are procured without harming the environment and society.
This will not only benefit our business in the long term, but will build trust among our stakeholders and safeguards the integrity of the Group. As such, it is imperative for
us to incorporate environmental and social considerations into our procurement practices.
OUR APPROACH
We prioritise sustainable and responsible procurement practices to ensure that chain practices. We have also put in place AmBank Group’s Responsible Sourcing
our products and services are sourced from ethical and environmentally friendly and Green Procurement for Supplier’s Onboarding Programme, which includes a
suppliers who manage their resources responsibly. Integrating ESG practices in set of questions to assess new suppliers’ sustainability practices and principles.
our supply chain will enable us to cultivate positive impacts for all stakeholders Additionally, due diligence reviews and risk impact assessments are conducted
across the value chain. on new suppliers as part of our selection criteria to further embed responsible
procurement practices into our supply chain.
Our procurement procedure remains guided by AmBank Group’s Sourcing Policy
and Supplier Code of Conduct, which advocate responsible and inclusive supply
Business Integrity Resource Efficiency and Waste Reduction
Suppliers to adopt a policy governing anti-bribery, extortion, Suppliers to take back the products supplied for reuse or recycling,
corruption, fraud, money laundering and misconduct. where applicable.
Safety and Social Performance Energy Efficiency
Suppliers to have a written Safety Policy in place which complies Suppliers to employ energy-saving features to their products and
with industry, national and international standards that ensure all services during use or standby; where applicable.
forms of employment are free of forced labour, bonded labour,
slavery, human trafficking and child labour.
Environmental Sustainability Environmentally Hazardous Substance Management
Suppliers to promote the use of sustainable products (e.g. Suppliers to use licensed waste collectors for the collection and disposal
recyclables, reusable, non-toxic) and practices in the delivery of of scheduled and hazardous wastes generated from their activities.
products and services.
Product Performance Testing
Suppliers to adhere to AmBank Group’s required performance

and technical specifications.
55
OUR INITIATIVES
Local Vendors Socio-Economic Contributions
• Onboarded 20 local vendors who were certified by the Malaysian Global • Provided business opportunities to support suppliers, contributing 89.6% of total
Innovation & Creativity Centre (MaGIC) to encourage business units to procure procurement spending to local businesses.
products/ services from local vendors and support Malaysian entrepreneurs,
thus embracing sustainability and responsible procurement. We personally Green Sourcing & Procurement
engaged some of the supplier advocating and supporting this small businesses.
We continued to encourage our suppliers to adopt green practices whenever possible.
Supplier Selection Process and Onboarding Internally, we took the following measures to reduce our environmental footprint:
• Continued to implement the e-Procurement system for self-registration of • Continued to encourage stakeholders to use energy saving LED light bulbs and
suppliers. Prior to being selected, our suppliers are assessed against a set of equipment.
criteria based on the Supplier Code of Conduct & Anti-Bribery and Corrupt
Practices, Business Integrity and Governance, Safety and Social Performance • Sourced stationery made with eco-friendly materials to reduce our reliance on
and Environmental Sustainability. The tabulated assessment score shows plastic-based stationery. Introduced piped-in water dispensers and reduced
whether a supplier qualifies to be registered. Suppliers who marginally fail are and/ or eliminated the use of 5-gallon plastic bottles RO drinking water across all
reassessed or referred for exemption on a special case basis or disqualified. AmBank offices.
• Required all new suppliers to sign the AmBank Integrity Pledge through our • Cut paper consumption by encouraging staff to utilise double-sided printing as
supplier onboarding Supplier Lifecycle and Performance process. The end-to- well as using the e-Letterhead and e-Memo throughout our offices. We have also
end process involves pre-qualification of suppliers, which requires potential reduced the size of our printed festive packets.
suppliers to pass modular questionnaires on Business Integrity & Governance,
Environmental Sustainability and Safety & Social Performance. • In the purchasing of IT products, we only procured tier-one brand hardware
servers, laptops and desktops which are more eco-friendly as they are asbestos-
• We continue to conduct ESG awareness and guidance for suppliers. free, with batteries that come with disposal guidelines and packaging materials
that contain no more than 0.01% hazardous substances such as mercury, lead,
• Implemented the use of e-Ariba to reduce paper consumption for Purchase cadmium and hexavalent chromium.
Orders and invoicing.
• Our data centres only acquire products that are compliant to the Restriction of
• Archived softcopy contracts in Group Procurement’s centralised system to Hazardous Substances (RoHS), Registration, Evaluation, Authorisation and
reduce hardcopy archiving. Suppliers and stakeholders were also encouraged Restriction of Chemicals (REACH) and the European Waste Electrical and Electronic
to use e-stamping at Inland Revenue Board to reduce the issuance of cheques. Equipment Directive (WEEE).
OUR PROGRESS
All of our new vendors underwent screening and were found to be 100% compliant in the pre-qualification ESG questionnaires.
Breakdown of Suppliers FY2021 FY2022 FY2023

Total no. of local suppliers 1,129 1,866 1,136
Total no. of international suppliers 96 102 98
Total 1,225 1,968 1,234
Local suppliers with active contracts (%) 89 89 92
Economic Contribution to Suppliers (RM mil)/ (%) FY2021 FY2022 FY2023

Local suppliers 449.3 (83.3%) 1,069.6 (91.3%) 656 (89.6%)
International suppliers 89.8 (16.7%) 101.4 (8.7%) 76 (10.4%)
Total 539 1,171 732
New Suppliers Screened with Environmental and Social Criteria FY2021 FY2022 FY2023
Total no. of new suppliers 40 119 68

Matters Matters
COMMUNITY EMPOWERMENT
Giving back to the community is vital for the development of a sustainable

community to ensure no one is left behind.
At AmBank, we always give back to society to empower the communities through corporate social responsibility (CSR) programmes that are designed to generate long-
term positive impacts. This enables us to build trust with the communities, advance our sustainability agenda and enhance our corporate legitimacy. Additionally, our CSR
programmes allow our employees to engage with the communities in which we operate and contribute to society’s sustainable growth.
OUR APPROACH
We focus on common development issues faced by communities such as We are committed to giving back to society through investing a reasonable and
education funds and food aid. We reach out to the local communities in which equitable portion of our profits in CSR programmes and making Zakat contributions
we operate and non-governmental organisations (NGOs) to identify and meet under AmBank Islamic to support underprivileged communities. Additionally, we
their needs. As such, we engage regularly with the communities and develop and promote financial literacy embedded with sustainability elements to improve the
implement programmes that will leave long-lasting positive impacts. We execute communities’ financial, credit and debt management knowledge, enabling them
our CSR programmes through AmKasih Programme, which aims to improve social to make informed decisions and avoid financial pitfalls.
mobility and the livelihood of all communities across all levels of society.
1 Principle 1 – Alignment 4 Principle 4 – Stakeholders
All CSR initiatives are to be aligned with AmBank We will proactively and responsibly consult, engage
Group’s sustainability agenda which embeds and partner with relevant stakeholders to create the
environmental and social concerns. desired impact of our CSR initiatives.
2 Principle 2 – Impact & Target Setting AmBank’s 5 Principle 5 – Governance & Culture
Principles in
We will continuously increase our positive impacts Developing We will implement our CSR initiatives through
while reducing the negative impacts on our effective governance and a culture of creating a
community. To this end, we will set and publish the
Impactful CSR positive impact to our community.
targets of our key CSR-related initiatives. Programmes
3 Principle 3 – Community 6 Principle 6 – Transparency & Accountability
We will work responsibly with our community to We will periodically review the implementation
promote shared prosperity for current and future of these Principles and be transparent about and
generations. accountable for our positive and negative impacts
and our contributions to our community.
57
OUR INITIATIVES
AmCare • FINCO Storytelling Sessions – AmBank participated in storytelling sessions on 24

Nov 2022 held at Sekolah Kebangsaan (SK) Alam Damai and SK Seri Setapak Kuala
The Group believes that positive impact creation is not limited to organisational Lumpur on 1 Dec 2022. The session benefitted 59 students.
level but also involves individual contributions. With that in mind, we launched
AmCare to serve as an avenue for employees to volunteer in CSR activities. The • Talk on Financial & Investment Literacy Programme – Collaborated with Bursa
platform amplifies the importance of sustainability and encourages AmBankers Malaysia to deliver a talk on Financial & Investment Literacy Programme to 100
to actively engage with the local communities in areas where we operate. Our students from the International Islamic University Malaysia (IIUM), under Bursa's
employees are entitled to three days of paid leave per annum for charitable work Sens-Ability Programme.
and/ or sustainability projects. This new initiative will encourage AmBankers to make
positive impact to people and planet by volunteering to invest their time and energy • Malaysian Finance Expert Convention (MFEC) 2022 – AmInvestment Bank
for the greater good. sponsored RM2,000 for MFEC 2022, which was organised by University Malaya
Finance Association. Participating as speakers at the convention, AmInvestment
Financial Literacy and Life Aspiration Bank also held a knowledge-sharing session with 580 students on Ultimate Stock
Picking Strategies Workshop conducted on 3 April 2022.
• FINCO – Donated RM187,500 to provide underprivileged children and youth
with educational tools and other life goals guidance. We also sponsored English Literacy Programmes
nine additional schools under the Adoption Programme assigned by BNM.
We contributed decommissioned computers and tables with internet data
subscription to be used by participating schools under the programme. As a
result of our active participation as a member, we were presented with two
awards by FINCO in 2022.
• FINCO Good SENS – Participated as a panel judge in The Dragon’s Den

Competition. Participants of the competition consisting of primary school students
aged between 10 and 12 years old were tasked to pitch their social enterprise
ideas. We contributed RM157,950 for the competition, which benefitted 360
students.
• FINCO Career Insights Career Fair – AmBank participated in the event aimed
to improve students’ understanding of career opportunities, the skills and
behaviours valued by employers and pathways in order to secure high value
employment. The event was held in nine states nationwide, namely Pulau Pinang,
Melaka, Perak, Johor, Putrajaya, Pahang, Kuala Lumpur, Kedah and Perlis. Our
involvement included opening consultation booth and financial literacy talk and • AmBank Group Storytelling Session – In support of FINCO’s Strategic Pillar of
we were able to reach out to 9,412 visitors. English Proficiency, AmBank organised English Storytelling sessions in charity
homes and our adopted schools including Pertubuhan Rahoma Darul Fakir,
• FINCO Aspire Workshop – AmBank participated in various programmes SK Bukit Rokan Utara from Negeri Sembilan, SK Taman Sri Muda from Shah Alam
including the Who Am I Workshop, Interview Workshop, My Aspiration Workshop and SK Batu Arang from Rawang. The sessions impacted 210 beneficiaries.
and Budgeting Workshop. The programme benefitted 201 secondary school
students from FINCO schools. • AmBank Literacy Programme in collaboration with MYReaders – Partnered with
MYReaders to develop children’s reading skill through one-on-one sessions. The
• FINCO CEO Volunteering Month 2022 – Our Group Senior Management six-month programme aims to enhance the English language proficiency among
supported the FINCO programme by volunteering as speakers, benefitting primary school students through a literacy toolkit with a tested and proven syllabus
116 secondary school students under the FINCO Life Aspiration and Financial structure. Twenty students from Pertubuhan Rahoma Darul Fakir Malaysia took
Literacy Pillar. In some of the sessions, AmBank Group was represented by Group part in the programme, which included reading sessions with AmBank volunteers
CEO, Dato’ Sulaiman Mohd Tahir and AmBank Islamic CEO/ Group Sustainability through Google Meet. AmBank invested RM14,900 into this initiative.
Champion, Eqhwan Mokhzanee.
• AmBank and Big Bad Wolf (BBW) Community Based Library – Supported the Big
Bad Wolf Charity event by sponsoring the purchase of books for flood affected

Matters Matters
families and book inventories in existing schools as well as community centres. We d) Climate Change + Banks – Datin Zameema Ariff, AmBank’s Head of Group
also assisted BBW to set up 10 stations in selected schools or ‘tabika’ nationwide. Sustainability, enlightened students on how banks play a part in sustainability
AmBank contributed RM35,000 for the programme, which promotes reading and by highlighting the bank’s role in advising and providing responsible financial
English literacy and impacted 5,643 beneficiaries. advice to consumers
• Community Outreach and Welfare The Lost Food Project (TLFP) – Continued to • University in Action Symposium - Collaborated with IIUM to hold the symposium,
partner with TLFP to reduce food wastage and be part of the solution in eliminating which showcased 173 community engagement projects that were designed and
hunger among the B40 community. We sponsored RM39,600 for the rental of the presented by the 3,420 IIUM students. The community projects were developed to
warehouse for 12 months. encourage students to learn and create positive impacts to the community, providing
them with first-hand experience to better balance their lifestyle with the well-being
• Pusat Kebajikan Masyarakat Kuching – Contributed financial assistance of of the environment. AmBank’s Head of Group Sustainability, Datin Zameema Ariff
RM20,000 via the Pusat Kebajikan Masyarakat Kuching to rebuild homes for fire was one of the panel jury members for the presented projects.
victims and for the hardcore poor in Santubong, Sarawak.
• Engaging with the business community on sustainability – Participated in several
• AmBank AmKasih Ramadhan Raya CSR Programme 2022 – Assisted 1,100 initiatives organised by various establishments to share knowledge and raise
beneficiaries of asnaf families from Amanah Ikhtiar Malaysia and asnaf students awareness on sustainability among the business community:
from AmBank adopted schools through the provision of food aid.
o Green Webinar themed Sustainability Financing: A Journey to Sustainable
• Japan Matsuri Festival, Tawau – Sponsored RM5,000 for the event, which seeks to Green Economy organised by Malaysian Green Technology and Climate Change
create public awareness on the 100-year old Japanese heritage and other historical Corporation (MGTC) on 21 October 2022 - presented by AmBank Group’s Head
assets in Tawau, Sabah. of Sustainability, Datin Zameema Ariff
Sponsorship o Global Conference 2022: Enterprise Risk Management: Rise of the Green
Machines organised by the Institute of Enterprise Risk Practitioners on
• Malaysian Zoological Society – Renewed our Camel Sponsorship from 2021 towards 27 October 2022 - AmBank Islamic CEO/ Group Sustainability Champion,
the upkeep of three Dromedary Camels at Zoo Negara. We donated RM50,000 for Eqhwan Mokhzanee, bridged the gap between business practices and
the initiative. sustainability by presenting “Leveraging the Relationship between ESG and
Business Risks”
Awareness and Knowledge-Sharing
o Greening Value Chain (GVC) Programme on 7 March 2023 – AmBank Islamic
• Sustainability Talk Series – Conducted a series of talks on sustainability to CEO/ Group Sustainability Champion, Eqhwan Mokhzanee, shared knowledge
around 200 students as part of a collaboration with the International Islamic on Climate Products and Services for SMEs
University Malaysia (IIUM). The Sustainability Talk Series served as a platform to
provide a holistic understanding for students and to motivate them to integrate o Knowledge sharing sessions – we organised customised sessions for our
sustainability into the students’ overall studies. Crafted for students to enhance customers and other stakeholders upon request to provide valuable insights
their understanding of sustainability, the event also aimed to raise awareness on and information, empowering them to understand and implement sustainable
environmental challenges and critical thinking among the students. Among the solutions in their own endeavours
topics of discussion were ESG in investments, financial literacy, ethics and climate
change to transition future generations to a more sustainable society.
a) Why ESG – Tracy Chen, AmInvestment Bank’s CEO spoke on “Why ESG”, the
importance of ESG factors for companies and the importance of sustainable
business growth to long-term sustainability
b) Financial Literacy – Shazman Shahid, AmBank’s Head of Group Communications

and Marketing shared the statistics on financial literacy in Malaysia and stressed
on the importance of personal financial management
c) Next Generation Ethics – Faradina Ghouse, AmBank’s Group Chief Compliance

Officer, highlighted to students on how ethics and business can lead to success
and alternatively, and how unethical practices can negatively affect individuals
and organisations. The session was conducted with the intention of instilling
responsibility in creating a better world
59
OUR INITIATIVES
Zakat Contributions
In order to better serve the community, we recalibrated our Zakat distribution strategy to expand our scope from providing sustenance to capacity-building and funding for
micro businesses. This is in line with the purpose of generating long-lasting positive impacts that will empower the communities. The recalibration has enabled us to benefit
asnaf groups, traders and entrepreneurs, students and charitable organisations.
AmBank Group allocated RM1,747,040 of business Zakat:
o RM498,000 paid to state zakat collection centres, which aided

various asnaf groups and improved their socio-economic status
- iTEKAD is a collaboration between AmBank Islamic, Teraju
AmBank Group’s first participation in

o RM1,249,040 allocated to eligible recipients: Ekonomi Asnaf (TERAS) under Majlis Agama Islam Selangor
(MAIS) and Majlis Agama Islamic Negeri Sembilan (MAINS).
a) Education assistance e.g assistance to university students and - Launched on 21 March 2023 and comprises three
iTEKAD Programme
underprivileged students components:
i) Seed Capital – RM200,000 (Business Zakat of
b) Economic empowerment e.g second participation of iTEKAD RM100,000 and a matching grant of RM100,000 from the
programme by AmBank Islamic and assistance for micro Ministry of Finance (MOF)/ BNM
entreperneurs ii) Microfinancing – RM100,000
iii) Capacity Building – RM80,000 (Business Zakat)
c) Charity association for Islamic development programmes and - This maiden initiative aims to support asnaf
cash assistance for charity homes microentrepreneurs through the generation of sustainable
income, to boost their business and digital capacity.
OUR PROGRESS AWARDS
Total Investments Total People Zakat

(RM)* Reached Contributions (RM) FINCO Volunteer
Awards 2022
2,705,471
1,359,650
33,670
917,779
1,747,040
21,943
991,087
698,950
10,315
o Overall Financial Institution with

FY21 FY22 FY23 FY21 FY22** FY23 FY21 FY22 FY23 the Most Volunteers (Banking)
* Our investments were channelled into various community empowerment initiatives including our Financial o Most Engaging Volunteer
Literacy and Life Aspiration with FINCO and English Literacy Programmes. We have made bigger impact this year
by reaching out to 21, 943 people.
** The data for FY2022 has been restated due to an error made in the reporting year.

Matters Matters
DIGITAL TRANSFORMATION & DATA SECURITY
The financial services industry has been fundamentally transformed by digital

technologies, and this trend will continue to influence how we operate and serve
our customers.
By adopting intelligent digital solutions, financial institutions can offer a more seamless and accessible customer experience, while achieving cost and operational
efficiency. Digital transformation enables us to monitor customer behaviour more closely, leading to more engaging and personalised service. While digital banking was
vital during the pandemic, it continues to play an important role in enabling access to banking services amid the endemic phase. By capitalising on this digital wave, we
can gain a competitive edge to better serve future customers.
Given the high demand of digital banking by customers, it is imperative that we establish comprehensive cybersecurity measures to safeguard their data. Data breaches
pose a significant risk to both business continuity as well as customers’ finances and privacy. Recovering from breaches of data privacy and information can be a
prolonged, stressful and costly process for all parties involved. As such, protecting our operations and customers from cyber threats and mitigating cyber risk will enable
us to build trust with stakeholders and retain customer loyalty.
OUR APPROACH
Digitalisation has impacted the financial services industry in myriad ways. To this end, we recognise the importance of being proactive in adopting these technologies
to position ourselves as a data-driven organisation. As part of this effort, we are strengthening our data capabilities to enhance customer convenience and facilitate
more precise decision-making.
Our strategy for Digital Transformation focuses on enhancing customer value while simultaneously achieving efficiency and reducing cost. We invest in smart solutions
to serve various customer segments, including retail and SME customers as well as larger corporations and institutions.
We strive to enhance our customer outreach by adopting a digital approach rather than relying on conventional banking methods. This involves generating additional
revenue streams by offering more digital functionality and new digital solutions through various channels. Our fundamental strategy for achieving our Digital
Transformation objectives consists of two primary components:
Driving usage and penetration of

Leveraging strategic partnerships in the
1 existing digital channels through 2 marketplace
new initiatives
We embrace digital technologies to reach out to our customers through widening their access to our financial services. We have also enhanced our digital presence
to drive financial inclusion to meet the needs of customers, particularly the SMEs.
In 2023, we executed several initiatives to accelerate our digital transformation. We leveraged on strategic partnerships to generate long-term positive value for
our customers. These collaborations include working with Local Municipal Councils, partnering with industry players such as BonusLink, as well as initiating e-wallet
partnerships with Merchantrade Asia and Axiata Boost. We also offered a fully digital eKYC (Electronic Know Your Customer) to expedite account opening via AmOnline
and AmAccess Biz to support local SMEs, integrated AmOnline with Lembaga Tabung Haji and linked Amanah Saham Nasional Berhad (ASNB) to AmOnline to facilitate
account checking and transactions. Eligible customers may also apply for financing to invest in Amanah Saham Bumiputera (ASB) via AmOnline.
61
OUR APPROACH
Digital Support for Employees Data Protection

Apart from providing digital solutions to our customers, we have also increased As we move forward in our digital initiatives, we continuously monitor our
efforts to digitally support our employees and drive effectiveness through cybersecurity to protect the data of our business and stakeholders from potential
process automation. attacks or breaches. We strive to reduce the risk of cyberthreats by conducting
enhanced and continuous security monitoring via SOC 2.0. This entails evaluating
Since 2022, we deployed 27 robots to automate our customer due diligence AmBank’s preparedness to respond to cyberattacks and data breaches by carrying
process as well as credit underwriting in order to reduce Turnaround time out periodic Cyber Drills. Internally, we have in place a Risk Posture Dashboard
(TAT) and improve overall customer experience. These robots have thus far based on established quantitative Risk Control Metrics (RCM), which encompasses
processed over 7,000 applications. three overarching categories; Cyber Security, Data Protection and identity &
Assess Management (IAM).
As a result of greater process automation, more than 120 non-revenue
employees (i.e., support personnel) were reskilled and reassigned to other In the year under review, there were zero recorded cyberattack incidents and
critical tasks over the past 3 years. breaches to our cybersecurity system. Moving forward, we will continue to
strengthen the resilience of our cybersecurity and improve our Cyber Security
Maturity level.
OUR INITIATIVES
Digital Transformation o Tabung Haji, Malaysia’s Muslim pilgrimage fund and,

To serve the underserved segments and create comprehensive value o Amanah Saham Nasional Berhad (ASNB), Malaysia’s state-owned wealth
propositions for our valued customers, we established strategic partnerships management corporation owned by Permodalan Nasional Berhad (PNB)
with stakeholders across various industries. Our partnerships and initiatives o Apply for financing to invest in Amanah Saham Bumiputera (ASB)
included: • Continued to improve the AmOnline app and website to enhance user interface
• Collaborating with Local Municipal Councils to support petty traders through and to boost customer experience.
collection solutions such as mTAP that can be utilised to process debit and
credit card transactions. Cyber Security
• Initiating two e-wallet partnerships: We continued to safeguard customers’ data and privacy through robust cyber
o Merchantrade Asia: A hybrid e-wallet venture, Merchantrade’s security measures to mitigate cyber-attacks and cyber risks. The following
customers are given a larger capacity e-wallet along with the additional measures were implemented to strengthen our cybersecurity:
benefits of their Current Account-i. This hybrid e-wallet is the first of its
Integrating enhanced visibility, orchestration, automation and
kind and boasts the largest wallet size of RM50,000
o Axiata Boost: Offers digital solutions to support retail merchants and
1 intelligence
underserved micro SME (e.g. night market vendors, food and beverage
outlets). Boost has been onboarded as the Retail Payments Platform
(RPP) for Non-Bank Direct Participants (NBP) with PayNet and AmBank 2 Developing the ability to identify threats with the use of forensic tools
as its RPP RENTAS Sponsor Settlement Bank
• Enabling homegrown fintech companies to provide fully digitised eKYC tool
Enhancing our capacity to recognise security threats from multiple
through the Bank’s infrastructure. AmBank Group launched customised
Application Programming Interfaces (API) utilising DuitNow from Payments
3 sources and respond with minimal human intervention
Network Malaysia Sdn Bhd (PayNet) to facilitate Rakuten Trade, the pioneer
in Malaysia’s online equity brokerage, to enable seamless onboarding and Employing tools that offer effective automated protection with the
acquisition of new customers. 4 ability to enhance anomaly detection and predictive analytics
• Expanded AmOnline capabilities by seamlessly integrating it to:
o BonusLink, Malaysia’s largest loyalty company

Matters Matters
OUR PROGRESS
AmOnline
FY2021 FY2022 FY2023

Registered users 1,235,458 1,401,867 1,565,513
Registered users (%) of rise 28 13 12
Average no. of online transactions (Monthly) 761 87 89
Percentage of online transactions (%) 82 83 82
Percentage of online card activation (%) 63 65 84
Reduction in activation via call centres (%) 16 52 43
Percentage of credit card limit increase application via AmOnline (%) 63 82 84
Successful online enquiries 255 739 1,503
AmAccess Biz
FY2021 FY2022 FY2023

No. of total registered companies 11,161 27,235 39,029
No. of total registered companies using the platform 11,149 20,525 26,364
Volume of monthly transactions 16,689 142,987 368,439
Value of transactions (RM mil) 351 1,635 4,214
Total transactions from digital tokens (%) 76 68 68
Total deposits supported by AmAccess Biz (RM mil) 1,357 4,052 6,969
No. of cyber threats handled 0 0 0
Cases of data loss/ online breaches reported 0 0 0
Any fines/ penalties related to cybersecurity (RM) 0 0 0
AWARDS
o Digital CX Awards 2022 from The o Asian Banking & Finance Awards o Malaysian
Digital Banker - Winner for outstanding 2022 - “Analytics Initiative of the Year – e-Payments
Digital CX - Mobile Banking (SME) Malaysia” Excellence
Awards
(MEEA) 2022
o Malaysia Technology Excellence o The Asian Banker Awards 2022
- Leadership
Awards 2022 - Data Analytics “Lazy - “Best Digital Account Opening/
in DuitNow
Money” Model Onboarding Initiative”
Innovation
o Asian Banking & Finance Awards o The Asian Banker Awards 2022 - “Best
2022 - “Digital Business Banking Productivity, Efficiency and Automation
Initiative – Malaysia” Initiative” for Robotics Process Automation
63
EMPLOYEE WELL-BEING & DEVELOPMENT
The well-being and development of our employees is an important part in our

value creation journey, as they play a fundamental role in our business’s long-
term growth. As a responsible employer, we strive to prioritise the physical and
mental health of our employees, in addition to providing a safe and conducive
work environment.
We understand that our employees constantly face new challenges and uncertainties in their professional growth in today’s competitive and evolving business landscape.
As such, we continuously provide learning and development opportunities to equip our employees with the necessary skills and knowledge. This will help to improve
job satisfaction, which leads to employee loyalty and talent retention. Further to that, we promote a diverse and inclusive workplace culture to foster a sense of security,
motivation and acceptance among employees. A diverse workforce of various backgrounds enables us to benefit from unique and fresh perspectives which in turn,
enhances innovation and business performance.
OUR APPROACH
We are committed to investing in our people by providing training and generate positive social impact. This includes making sustainability integral to
development programmes that impart future-ready competencies and skillsets. the Group’s financial and investing activities, leading by example in our outreach
Our aim is to create career opportunities for our people through relevant and initiatives to society, to connect with them through contributions, grants and
targeted personal development initiatives. Our training and development strategy volunteering activities as well as optimising our management of resources and
covers on-the-job coaching, career growth, regular performance evaluations and waste.
career advancement opportunities.
Additionally, our talent management approach cultivates a diverse and inclusive
AmBank Group has in place a Code of Conduct which advocates workplace workplace. Our employee recruitment, retention, compensation and development
diversity and non-discrimination, ensuring a fair and respectful workplace. In this practices are free from any form of discrimination based on age, gender, disabilities,
context, we extend employment to individuals from the underprivileged group. ethnicity, religious beliefs and socio-economic background. This includes taking
AmBank’s Code of Conduct also upholds the community and is developed to appropriate measures to close the gender gap in executive and key positions.
We strive to be
Proactive
Appreciative Experimental
We approach every
We value and We strive to seek new
challenge positively, initiate
recognise everyone’s and relevant ways to
change responsibly, and
role and contribution, grow ourselves, our
always anticipate the
and always provide customers, our business
needs of all our employees,
support to our and our community in a
customers and our
Principled customers and Collaborative sustainable manner.
community
employees.
Integrity and We are connected
professionalism in everything we do.
remain the thrust in all We are part of an
we do, and we take organisation that fosters
accountability for our teamwork and open
actions communication.

Matters Matters
The safety, health and well-being of our employees are important to us and as such, we invest significantly in these areas, prioritising occupational safety and health
(OSH). Through a “Prevention is Better Than Cure” approach, we have established OSH measures to mitigate potential safety risks. We regularly conduct safety and health
initiatives to promote employee well-being to enhance our performance and increase our competitive edge. Our OSH committees consist of competent individuals with
the knowledge to identify and address potential OSH risks. In addition to setting targets and developing strategic and operational safety and health plans, we conduct
OSH inspection audits at all sites in our premises across Malaysia. AmBank Group’s OSH Management is aligned with the ISO 45001:2018 (2018-2024). All our employees,
workers, activities and workplaces are covered by the Group’s OSH Management System.
To identify employees’ key concerns, we regularly engage with them through various channels to respond to any issues that may affect their job satisfaction, performance
and mental well-being. Our efforts to create a conducive and safe workplace are aligned with our aspiration to become an Employer of Choice.
OUR INITIATIVES
Talent Management Leadership & Talent Development Programmes
• In 2023, AmBank provided various programmes to elevate the skills and

competencies of its employees: BATMAN (Being a Talent Manager for Assistant Managers and Managers)
Role-based Programmes ELP (Emerging Leaders Programme for Senior Managers and Vice Presidents)
LEAP – AmBank’s Group Senior Vice Presidents and Executive Vice

Leadership & Development (L&D) Presidents participated in this holistic and accelerated development
programme conducted in collaboration with INSEAD
AmBank Group Academy - 5 Learning Pathways/ academies developed
AmBank Digital Academy
Asian Institute of Chartered Bankers (AICB) Certification
Chartered professionals in Islamic Finance – provided industry By 31 March 2023, a total 3,037 staff were onboarded for training in a
professional qualifications to raise leaders in Islamic Finance collaboration with 10 learning partners to execute digital competency
programmes for employees
The Institute of Chartered Accountants in England & Wales (ICAEW)
• Programmes that were launched included cybersecurity, self-paced online
Cambridge Executive Programme learning programme, data analytics, tech talk, and also data integration, data
quality and data governance. We ensured that all employees received training
Cass Business School on data security, privacy-related risks and procedures as well as ethical
standards. All employees and new graduate employees were provided training
Edinburgh Business School Programme with an exclusive course on these topics.
Bologna Business School Programme • AmBank partnered with the Asian Banking School (ABS) and AICB to develop
and conduct joint training programmes for employees.
Frankfurt School of Finance and Management (Frankfurt Germany
Programme) • Developed comprehensive ESG training for sustainability capacity building and
awareness across all levels to ensure the success of the Group Sustainability
Agenda. As at December 2022*, a total of 3,129 participated in the programme.
* Note: Data is based on calender year (CY) to align with AmBank’s Staff Training
Expenditure (STE) report to BNM.
65
OUR INITIATIVES
Promoting Work-Life Balance Working Hours

iii
We organised various efforts to increase engagement with our employees as well as
initiatives to promote their overall well-being and health: Female employees are entitled to leave work one hour earlier when in 28th week
of pregnancy and above.
• The ‘I Am Sihat’ Health & Wellness (H&W) Month Campaign ran from
13 February to 5 March 2023 across three AmBank Corporate buildings (BAG, • Virtual health talks were conducted by health professionals via Virtual Wellness
MAB, WAF). The campaign was organised with the objective of raising awareness Webinars, to provide support to employees. These talks covered topics such as
on the importance of a healthy lifestyle to all AmBank Group employees. Healthy Aging, Keep Your Eyes Healthy, Ancient Healing Therapy, Hypertension and
Coronary Artery Disease and Lifestyle Disease & Nutrition, among many others. Over
• We partnered with The Gallup Organisation to conduct an Engagement Survey, 3,000 employees participated in these webinars.
utilising Gallup’s Q12 Employee Engagement Index to evaluate our employee
engagement efforts and its correlation to business outcomes. • We organised Fireside Chat Series to connect our employees with decision-makers
and leaders from across industries to provide fresh perspectives and thought-
• We implemented the Hybrid Working Arrangement Guideline, effective provoking discussions on global issues and create a platform for the employees
1 November 2022 to enable employees the flexibility of working from home. to network, interact and connect. During the reporting year, two sessions were
conducted:
• Further, employees are given the option for staggered working hours (8.00am to
5.00pm or 10.00am to 7.00pm) to improve well-being and work-life balance.
28 October 2022 –
• AmBank also formed Kelab AmBank Group (KAG), a recreational club to provide Guest Speaker: Datuk Nicol Ann David, Former World Squash
employees with opportunities for social, sports and recreational activities along
Champion
with amenities for club members.
We provide a range of market-competitive employee benefits encompassing perks

and prerequisite reimbursements, leave benefits, preferential staff rates, insurance
coverage and medical benefits. In FY2023, we enhanced some of the benefits to
support the work-life balance of employees.
i Leave
Maternity Leave – increased from 90 to 98 days, with the opportunity to

further extend up to three months.
Paternity Leave – seven consecutive days leave.
Sick Leave – allows application without medical certificate up to three days

per calendar year.
AmCare – allows up to three days of paid leave per year for employees to
participate in charity work and/ or sustainability projects.
For more info on AmCare, refer to Community Empowerment on page 58.

10 February 2023 –
ii Medical Benefits Guest Speaker: Mr Ahman Zulqarnain Onn, President & Group CEO of
Permodalan Nasional Berhad
Medical coverage for employees’ unemployed children up to 23 years old
from 21 years old previously. • We initiated a virtual recognition via ‘eThankYou’ to enable employees to send
notes of gratitude to colleagues.
Provision of medical coverage of up to RM1,500 per family per annum for
disabled children above 23 years old who are not gainfully employed.
• AmBank employees at the lobbies of head offices were given tokens of
Maternity benefit provided for delivery charges with the reimbursement of appreciation every month through our ‘Freebie FriYay’ initiative.
RM1,000 and RM1,500 for normal and caesarean deliveries respectively.

Matters Matters
Collective Bargaining Inclusive Workplace
To maintain industrial harmony, we engage in dialogues with workers’ unions. We • We strive to create employment opportunities for individuals from diverse age
remain committed to supporting our employees’ right to freedom of association groups, without work experience and different educational backgrounds into
and collective bargaining, which is in the best interest of union members. The the workforce by implementing youth employment initiatives, apprenticeships
unions we engage with include: and graduate placements. Our efforts are aimed at developing young minds for
leadership, cultivating their talents in innovation and sales, and giving them an
overview of the banking industry.
Kesatuan Pekerja-Pekerja AmBank (M) Berhad (KEPPA)
• In 2023, we provided the following programmes:
Sabah Banking Employees’ Union (SBEU)
Sarawak Bank Employees’ Union (SBEU) AmGraduate Programme

An 18-month intensive programme that aims to develop young
Kesatuan Eksekutif AmBank (M) Berhad (Semenanjung) outstanding graduates by accelerating their education and capabilities at
entry level to take on future leadership roles within the Group.
In FY2023, 2,865 of our employees are covered by collective bargaining
agreements or are represented by a trade union. These enable negotiations AmDigital Graduates Programme
between one or more employees or employees’ organisations and one or A 12-month graduate programme to raise digital talents and drive digital
more workers’ organisations to determine working conditions and terms of innovation and transformation for AmBank.
employment for employees and workers.
AmApprentice Programme
A 12-month graduate programme designed to cultivate a strong sales
Percentage of Employees Covered by Collective
pipeline. This programme grooms participants to become the future top-
Bargaining Agreements
performing Relationship Managers and Sales Leaders within AmBank.
Structured Internship Programme

Provides an opportunity for students who are keen to learn about the
banking industry, the business and operations.
FY2021 FY2022
12% 12% Safe and Healthy Workplace
• AmBank Group believes that safe and healthy employees are productive
employees who lead more rewarding lives, both inside and outside the office.
We believe that the safety, health and welfare of all our employees are vital to
our business.
• All members of our OSH committees are equipped with the competencies and
knowledge to identify potential OSH risks and implement controls to minimise
FY2023 the occurrence of OSH incidents.
36% • In addition to setting measurable targets, and safety and health plans, we
conduct OSH inspection audits, which involve annual site inspections at
AmBank Group premises across Malaysia.
Note: The increase in FY2023 is due to the signing of collective agreement with
Kesatuan Eksekutif AmBank (M) Berhad (Semenanjung) in August 2022.
67
OUR INITIATIVES
OSH Training: Invested approximately RM80,000 in the following OSH-related Contractor Safety Management & PTW Virtual Training
training programmes:
• Aim: Enables employees to understand the legal responsibilities of the
relevant parties and develop the ability to assess contractors
OSH-Related Training Programmes
• Date: 18-19 October 2022
• Attendees: 26
Basic Fire Fighting & Emergency Response Plan & Preparedness
Virtual Training Safe Handling of Chemicals Virtual Training
• Aim: Trains employees in handling various emergencies, • Aim: Increases understanding of the requirements related to safe
understanding procedures and executing measures during disasters chemical handling to prevent workplace accidents
• Date: 22-23 September 2022 • Date: 21 November 2022
• Attendees: 65 • Attendees: 50
OSH Committee Roles & Responsibility Virtual Training Hazard Identification, Risk Assessment and Determining Controls
(HIRADC) Virtual Training
• Aim: Increases understanding of OSH legal requirements
• Date: 22-23 August 2022 • Aim: Enables employees to identify hazards, analyse and assess the
• Attendees: 47 associated risks and apply suitable control measures
• Date: 19-20 December 2022
Basic Occupational First Aid, CPR & AED Physical Training • Attendees: 17
• Aim: Enables employees to qualify as first-aiders

Musculoskeletal Disorder (MSD) & Ergonomic Awareness Virtual Training
• Date: 23 June 2022 & 17-18 January 2023
• Attendees: 76
• Aim: Improves awareness and knowledge on ergonomics to prevent
MSD in the workplace
Safe Handling of Motorcycle Riding as part of the Commuting Safety • Date: 20 July 2022
Support Programme (CSSP) in collaboration with SOCSO • Attendees: 38
• Aim: Increases employees’ awareness on safe riding behaviour and

OSH Coordinator Physical Training
practices to reduce motorcycle accidents
• Aim: Increases understanding and awareness of occupational safety
• Date: 27-28 July 2022 & 19 January 2023
and health at sites
• Attendees: 80
• Date: 13, 14 & 16 February 2023
• Attendees: 29
Eight of AmBank branches were audited by DOSH and graded “A”, a testament to our continuous efforts towards health and safety in our operations.
No Branch Region Date of Audit Grade % (score)

1 Sitiawan Perak 18/4/2022 A 95.59
2 Sg Bakap Penang 20/4/2022 A 95.15
3 Tampoi Johor South 25/4/2022 A 97.20
4 Kemaman East Coast 27/4/2022 A 98.75
5 Kuala Terengganu East Coast 12/5/2022 A 100.00
6 Ayer Tawar Perak 17/5/2022 A 93.00
7 Labuan Sabah 22/2/2022 A 91.26
8 Ipoh GreenTown Perak 24/2/2023 A 91.40

Matters Matters
Group-wide OSH Communication: • Various activities were conducted such as Health & Wellness booths from
various government and private agencies, health checks, wellness talks, blood
donation, fitness activities, fitness challenge and many others.
• Published and disseminated OSH Bulletins in the AmBank Group OSH Portal for
employees on AmBank’s internal intranet AmBank Connected. • Organised a team-building event at Sunway Lagoon on 8 March 2023
to encourage teamwork within the OSH team.
• Carried out the biannual ‘OSH Feedback Solicitation’ initiative to obtain OSH-
related feedback from employees.
OSH Personnel Competency:
• Performed OSH-related incident investigations, building inspections and
briefing updates monthly in all departments and divisions as well as in Group • AmBank received a renewal of the SHO Competency from DOSH for three
Committee meetings. years from 2019 to 2022 and from 2023 to 2026.
• Uploaded the Group OSH Manual, Standard Operating Procedures and Newly
Revised Group OSH Policy in the OSH Portal for all employees to access.
• Conducted scheduled OSH Training, campaigns, talks and projects.
• Continued to manage the dedicated COVID-19 microsite in AmBank Connected.
OSH Collaboration Projects and Special Events:
• AmBank’s FY2023 Health & Wellness Month Programme was organised to raise
awareness on OSH and to inculcate wellness practices throughout the Group.
The programme was held at three AmBank corporate buildings:
Bangunan AmBank Group (BAG) from 13 to 18 February 2023
Menara AmBank Berhad (MAB) from 20 to 25 February 2023
Wisma AmFirst (WAF) Kelana Jaya from 27 February to

4 March 2023
Capability Development
• Invested RM19,754,522 in the training and development of employees from all categories.
Total Employee Training Expenditure by Workforce Category (RM’ 000)
CY2020 CY2021 CY2022

Top Management/ Senior Management 163.2 287.4 683.2
Mid-Management 6,037.4 5,449.1 7,954.9
Professional/ Specialist 7,234.0 10,740.9 10,241.1
Non-Executive 791.7 1,251.9 875.3
Total 14,226.3 17,729.3 19,754.5
Note: This data is reported according to calendar year (CY) to align with the Staff Training Expenditure (STE) report that was submitted to BNM.
69
OUR PROGRESS
Diversity
Members of the Board by Gender and by Age Group (No. & %)
Gender Age
1 11% 3 13%
22% 2 33% 3
1 11%
FY2021 FY2022 FY2021 FY2022

78% 7
78% 67% 67%

7 33% 3 2 22% 6
6
FY2023 FY2023
67% 78%
6 7
Male Female Below 50 years old 50 - 60 years old Over 60 years old
Employees by Gender (No. & %)
38% 3,476 37% 3,045 38%

3,575
FY2021 FY2022 FY2023
62% 5,927 63% 62% 4,873

5,815
Total number of Total number of Total number of

employees at the end of employees at the end of employees at the end of
Financial Year Financial Year Financial Year
9,502 9,291 7,918
Number of male employees Number of female employees
Note: All FY2023 data excludes AmGeneral Insurance.

Matters Matters
Fixed term or temporary employees Employees by Working Level by Gender (%)

FY2023
FY2021 FY2022 FY2023
0.4% Male
Male
Top Management/ Senior Management 59 53 56
0.2% Female Mid-Management 51 51 51
Professional/ Specialist 35 35 37
Permanent employees Non-Executive 32 32 30
FY2023
Total (%) 37.6 37.4 38.5
38.1% Male
Female
61.3% Female
Mid-Management 49 49 49
Non-Executive 68 68 70
Total (%) 62.6 62.6 61.5
Note: Data is based on headcount and excludes AmGeneral Insurance for FY2023.
New Employee Hires
FY2021 FY2022 FY2023

Total number of new hires (headcount) 854 1,158 1,351
Overall new hire rate (%) 9.0 12.5 17.1
New Hires by Age Group (%)
11 8 7
34
40
43
FY2021 FY2022 FY2023
53
49
55
< 30 years 30 - 45 years > 45 years
71
OUR PROGRESS
Employee Turnover Rate (%)
Voluntary Involuntary
Workforce Category/ Year FY2022 FY2023 FY2022 FY2023
Top Management/ Senior Management 5.7 14.7 0.0 0.0
Mid Management 14.0 13.0 0.3 0.1
Profesional/ Specialist (Executive) 16.8 21.2 0.4 0.7
Non-executive 2.7 2.3 0.5 0.2
Total (%) 14.3 17.0 0.4 0.5
SAFE AND HEALTHY WORKPLACE
Through the successful implementation of our OSH Management Plan, we have achieved zero Lost Time Injury Frequency Rate (LTIFR) and Lost
Time Injury Incident Rate (LTIIR) in CY2022.
We conducted nine OSH training programmes during the year where 428 AmBankers received training on OSH-related skills. We will
continue to ensure that more AmBankers are equipped with these skills.
• FY2023 Branch Inspection Audit at AmBank Group selected branches • OSH Incidents/ Data:
No Branch Region Date of Audit Rating Work-Related Injuries (Employees) CY2020 CY2021 CY2022
1 Sg Siput Perak 27/12/2022 Good Total number of Accidents 8 3 0
2 Menglembu Perak 28/12/2022 Good Accidents with Fatality 0 0 0
3 Kampar Perak 29/12/2022 Good Accidents with Lost Workdays 8 3 0
4 Tanjong Malim Perak 30/12/2022 Good Total Lost Workdays Due to Incidents 360 220 0
5 Bukit Indah Johor South 09/01/2023 Good Accident without Lost Workdays 0 0 0
6 Skudai Johor South 10/01/2023 Good Fatality Rate 0 0 0
7 Setia Tropika Johor South 11/01/2023 Good Lost Time Injury Frequency Rate
8 Melaka Raya MNS 13/03/2023 Good (LTIFR) 0.32 0.12 0
9 Jalan Munshi Lost Time Injury Incident Rate (LTIIR) 0.79 0.30 0
Abdullah MNS 14/03/2023 Good Total Employee (TE) 10,110 9,926 9,736
10 Bandar Utama Manpower Worked (8x26xTE) 25,235,144 24,775,296 24,301,056
Cheng MNS 15/03/2023 Good
11 Ayer Keroh MNS 16/03/2023 Good Note: This data reported according to calendar year (CY) to align with the authority
12 Datuk Lee Fong reporting requirements.
Yee MNS 17/03/2023 Good

Matters Matters
ANTI-MONEY LAUNDERING & ANTI-CORRUPTION
Upholding the highest standards of ethics and integrity is essential in

establishing and maintaining stakeholder trust.
Strong business ethics and integrity enable us to protect the best interests of our stakeholders. This will prevent and avoid unethical activities including money laundering,
insider trading and other corrupt practices which can impede the socio-economic progress of the country and disrupt our mission to build a sustainable future. Lack of
integrity and ethical practices may expose our business to legal and reputational risks and disrupt our daily operations.
OUR APPROACH
We are committed to continuously enhance and strengthen our corporate All our employees and suppliers are expected to comply with the following
governance. Our policies and procedures promote conscientious, transparent, policies:
equitable and ethical practices throughout the organisation. With a holistic, top-to-
bottom approach to good governance, every action taken upholds stakeholders’ • Code of Conduct: Reflects our commitment to upholding, maintaining and
interests and fortifies financial stability. Our corporate governance framework demonstrating a high level of integrity, professionalism and ethical conduct. It
adheres to the primary principles of the Malaysian Code on Corporate Governance, sets out the guidelines for general workplace behaviour and guides employees
which affirms that we operate with uncompromising levels of integrity. This helps in maintaining good conduct in business activities and when engaging with
to maintain the trust we have built with our customers, shareholders and other key external stakeholders including the community, regulators and business
stakeholder groups. partners. Our Code of Conduct also consists of Code of Ethics, which sets out
our values, ethical principles and ethical standards.
We go beyond regulatory requirements to uphold good governance in all that
we do. Group Compliance has oversight of our policies, guidelines and principles
which encourage openness and accountability while ensuring that our business is
safeguarded from illegal and unethical practices.
Key principles of AmBank Group’s Code of Ethics
Compliant Comply with all relevant laws and regulations
Manage conflict of Interest with honesty and integrity Responsible
Ethical Practice honesty and integrity in everything we do
Ensure completeness and accuracy for financial records Accurate
Trustworthy Protect the confidentiality and sensitivity of information
Treat each other and our community with respect Equitable
73
OUR APPROACH
• Whistleblower Protection Policy (WPP): Promotes a culture of integrity, openness and accountability.
We encourage our internal and external stakeholders to report any misconduct such as dishonesty, fraud, corruption, bribery or illegal practices, abuse of power,
or conflict of interest involving the Group. The WPP provides a safe and reliable channel for stakeholders, including customers, suppliers and employees to raise
grievances and report all forms of unethical conduct without fear of repercussions.
The internal Whistleblower Reporting channels include Management Ombudsperson and Board Ombudsperson avenues. The external Whistleblower Reporting
channels include Regulator and Law Enforcement Agency Channels.
Whistleblowing shall be managed

Ombudsperson is to be appointed
in a transparent manner by
as the official channel for the
creating awareness on protection, 01 06 reporting of concerns.
confidentiality and enforceability.
Whistleblower should be protected

Whistleblower should provide
for reporting any actual or suspected
improper conduct upon demonstrating
02 07 sufficient and accurate information
on a best-effort basis.
sufficient basis for whistleblowing.
Principles
Confidential information relating Governing the Reported improper conduct shall be
investigated by an appointed party
to whistleblowing should be 03 Protection of 08 and deliberated at an appropriate
safeguarded.
AmBank Group Committee for decision making.
Whistleblowers
Whistleblower, including his/ her

spouses and related persons who are Appropriate communication and
employees of the Group, should be 04 09 record maintenance shall be in place.
protected from detrimental action.
Remedial actions should be taken

Violation of Policy may be subjected
on complaint for detrimental actions 05 10
to disciplinary action.
against the Whistleblower.

Matters Matters
OUR APPROACH
Whistleblowing Reporting Process
Concerns raised via: Assessment of concerns raised: Investigation to be set up:
a) Whistleblower to Ombudsperson Ombudsperson reviews the concerns and a) Conducted by Internal Audit, Group
b) Review by Compliance and Internal determines if it warrants investigation Compliance or external party
Audit b) Timeline for completion - up to three
months
Disciplinary action: Reporting to LEA and Domestic Inquiry (DI): Submission of investigation report:
Disciplinary action will be taken against a) Case to be reported to LEA upon a) Submission to Audit and Examination
the wrongdoer according to the decision by the Board Committee (AEC) and Board for deliberation
disciplinary matrix, including suspension b) Disciplinary Committee to conduct a DI b) AEC/ Board guided by the provision of law
pending an investigation by LEA and decides if the case should be reported to
relevant Law Enforcement Agencies (LEA)
OUR INITIATIVES
1. Strong Compliance Culture • Developed and implemented for the commercial banks a Know-Your-Customer
(KYC) system that integrates sanctions and name screening, AML risk rating and KYC
• The Compliance Culture Programme is a continuous undertaking, driven through customer profiling and maintenance.
continuous education and awareness initiatives to embed a culture of adherence
and conduct across the Group. • Re-commenced AML Transaction Monitoring threshold optimisation exercise to
allow for more effective application of thresholds and enhanced data analytics on
• Embedding Compliance DNA and conduct in the businesses has been done transactional data for focused fraud and AML risk identification. This review is in
through Tone from the Top and various other initiatives, reminding all of the line with the Group’s Continuous Improvement Program for AML. A similar exercise
Group’s stance on zero tolerance for bribery and corruption, in line with the has commenced for Market Surveillance covering the Stockbroking and Futures
requirements for Adequate Procedures to address Section 17A of the Malaysian businesses.
Anti-Corruption Commission Act 2009.
• Continue to build synergies between Compliance, Operational Risk and Internal
• Continue to enhance the skills and capabilities of the in-business control function Audit, and endeavoured to effectively conduct reviews to identify risk exposures
and Compliance talent pools. Group Compliance has continued to upgrade and coordinate with the business to implement risk mitigation solutions.
bench strength through the hiring of talent with Anti-Money Laundering (AML),
Market Surveillance and Regulatory Compliance experience and upskilling staff • Increased collaboration with enforcement agencies to act against financial crime.
through certifications in AML and regulatory compliance. AmBank is a member of the working group in setting up the National Scam
Response Centre (a joint effort between the anti-financial crime centre, police, BNM,
2. Anti-Money Laundering (AML) and Anti-Bribery and Corrupt Practices Malaysian Communications and Multimedia Commission, financial institutions, and
(ABCP) telecommunications companies). Contributed and participated in the development,
testing and the rollout of the Industry Fraud Portal in combating fraud, scam, and
• Group Compliance is engaged in the Group’s sustainability objectives in the areas mule cases, that will ultimately allow for faster coordination and response to any
of AML and Anti-Bribery and Corruption driven through continuous education fraud, scam, or mule situations by the banking industry, especially assisting the
and awareness initiatives, an important component of the Task Force on Climate- authorities to recover proceeds.
related Financial Disclosures (TCFD) pillars of governance and risk management.
75
OUR PROGRESS
100% 100%
of the Members of the Board received information on employees received communication and training on
the Group’s anti-corruption policies and procedures the Group’s anti-corruption policies and procedures
Good Governance Communication and Training
No. of complaints
Communication and Top
and grievances
Training on Anti-Corruption Management/
received through
Policies and Procedures, by Senior Mid- Professional/ Non-
whistleblowing
Employee Category Management Management Specialist Executive Total
channel
Number of employees that 28 1,327 4,812 1,011 7,178
AmBank Group's anti-
corruption policies and
7
procedures have been

communicated to
Percentage of employees 100% 100% 100% 100% 100%

that AmBank Group's anti-
corruption policies and
procedures have been
communicated to
4
Number of employees that 28 1,327 4,812 1,011 7,178

have received training on
anti-corruption
Percentage of employees 0% 18% 67% 14% 100%

that have received training on
anti-corruption
FY21 FY22 FY23

Note: No significant risks related to corruption identified and mitigative controls have been put in place based on the ABCP risk
assessment conducted.
Zero
incidents of corruption

Matters Matters
OUR PROGRESS
Audits & Internal Controls
No. of Internal Audit Reviews Conducted and Ratings (%)
4% 6% 3% 1% 10% 3% 9%
FY2021 FY2022 FY2023
277 306 277
90% 86% 88%
Strong (%) Satisfactory (%) Weak (%) Partially Complied (%)
Governance and Ethics
FY2021 FY2022 FY2023

No. of complaints and grievances reported through the whistleblowing channel 7 7 4
Scoring for Governance-related disclosures in MSCI 5.5/ 10.0 7.1/ 10.0 6.4/ 10.0
Scoring for Governance-related disclosures in FTSE4Good 4.3/ 5.5 4.3/ 5.0 4.3/ 5.0
Number of misconduct/ malpractice reports received/ resolved 187 113 131
77
SUSTAINABILITY PERFORMANCE DATA
Overall Customer Satisfaction
FY2021 FY2022 FY2023

NPS 14 19 20
NPS rankings amongst industry competitors for AmBank customers only 1 1 1
Customer Satisfaction Score (CSAT) (%) 74 79 78
Percentage of CSAT improvement from the previous year (%) 2 5 (1)
Customer Complaints
FY2021 FY2022 FY2023
Number of customer complaints 2,343 2,119 2,229

Customer Complaints (%)* 2 3 4
* Based on Customer Relations Survey conducted by third party. FY2023, of those 4% who complained, 72% was resolved.
Marketing & Labelling
FY2021 FY2022 FY2023

Products/ services covered and assessed for compliance (%) 80 36 78
Total number of products/ services 10 11 9
Number of products/ services covered and assessed for compliance 8 4 7
Number of incidents of non-compliance with regulations concerning products and services 0 1 0
Number of incidents of non-compliance with regulations concerning marketing communications 0 0 0
Business Customers Reached
FY2021 FY2022 FY2023

Large Corporate 1,708 1,649 1,676
Mid Corporate 1,931 1,893 1,991
Financial Institution 305 305 298
Business Banking 10,111 12,286 13,224
SMEs 43,146 34,807 38,807
Total 57,201 50,940 55,996

Matters Matters
FINANCIAL INCLUSION
Empowering SMEs
FY2021 FY2022 FY2023

Total loans/ financing to the SME sector (RM bil) 22.8 24.9 26.7
Percentage of Group’s total loan portfolio made up of SMEs 20.2 20.8 20.5
Numbers of SMEs and entrepreneurs upskilled via AmBizClub 7,138 11,230 12,180
Total numbers of SMEs and Entrepreneurs participated in BizConference 1,318 5,382 8,217
Total number of SMEs participated in AmBank BizHub N/A 346 536
Total number of participants in programme with Capital Market Malaysia N/A N/A 155
Other initiatives for Community Benefits
FY2023
Affordable housing loans/ financing schemes
(such as PR1MA SPEF; Skim Rumah Pertamaku)
Total disbursement amount of loans/ financing (RM mil) 1,400*
Total number of affordable homes purchased 5,916*
Auto financing for B40 communities
Total disbursement amount (RM mil) 1,211
* Total cumulative disbursement since FY2020 for affordable homes: RM4.6 billion with 21,752 affordable homes purchased.
Overall GHG Emissions
FY2023’s carbon emission reduction against baseline FY2019* was 30%, which exceeded our reduction target of 24%. With carbon offset derived from solar power, Green
Electricity Tariff (GET) and Renewable Energy Certificate (REC), we further reduced our carbon emissions to 93% against the baseline.
Total GHG Emissions Total GHG Emissions by Entity Carbon Offset

(tCO2e)** (tCO2e)
AmBank AmBank Islamic AmInvestment Bank
48
13,876
45
18,178
17,146
45
880
16,088
15,298
15,528
14,702
664
656
1,741
30
FY21 FY22 FY23 FY21 FY22 FY23 FY21 FY22 FY23 FY21 FY22 FY23 FY21 FY22 FY23
Derived from solar panels, Green
*Baseline FY2019 = 22,184 Electricity Tariff and Renewable Energy
Certificate
Note:
The Electricity Carbon Emission Factor is obtained from Grid Emission Factor (GEF) in Malaysia, 2017-2019.
** The total GHG emissions include GHG emissions for AmFunds Management, AmIslamic Funds Management and AmGeneral.
79
GHG Emissions
Total Emission for Head Office Buildings FY2021 FY2022

(tCO2e) (Restated) (Restated) FY2023
Menara AmBank, Jalan Yap Kwan Seng (MAB) 1,209 1,065 1,147
Bangunan AmBank Group, Jalan Raja Chulan (BAG) 1,114 760 703
Menara MBF, Jalan Sultan Ismail (MBF) 179 - -
Plaza See Hoy Chan, Jalan Raja Chulan (PSC) 27 - -
Damansara Fairway 3 (DF3) 3,329 3,052 3,044
Wisma AmBank, Jalan Pudu (WAB)* 114 161 99
Total 6,374 5,487 5,479
Scope 1: Direct Emissions From Fuel Consumption
GHG Emissions from Petrol Consumption Petrol Consumption Per Year

(tCO2e) (Litres)
102
44,773
102
44,773
102
44,773
70*
30,792
25,460
58
18,077
41
* The increase in FY23 is due to resumption of office operations post MCO. Target Actual
Scope 1 GHG Emissions by Entity (tCO2e) No. of Vehicles/ Vehicle Composition

29
41
26
27
37
25
24
24
23
21
16
12
6
5
3
3
AmBank
AmBank
AmBank
Islamic
AmInvestment
Bank
AmBank
AmBank
Islamic
AmInvestment
Bank
No. of Vehicle
Hybrid
Non-Hybrid
No. of Vehicle
Hybrid
Non-Hybrid
No. of Vehicle
Hybrid
Non-Hybrid
AmBank
AmInvestment
Islamic
Bank

Matters Matters
Scope 2: Indirect Emissions from Electricity Consumption
FY2021 FY2022
Scope 2 GHG Emissions (tCO2e) (Restated) (Restated) FY2023
AmBank 17,088 15,244 14,463
Total 18,094 16,013 15,196
Note: Suruhanjaya Tenaga (Energy Commission) published in Q1 2023 revised Grid Emission Factors from 2017 - 2019. Hence, we have restated our Scope 2 emissions based on
this revision.
Actual vs. Target Scope 2 GHG Emissions (tCo2e) Total Electricity Consumption (kWh)
AmBank Group Head Office Buildings

18,623
18,094
25,434,294
22,942,505
16,498
16,481
21,403,212
16,013
8,172,011
15,196
7,007,255
6,992,412
FY21 (Restated) FY22 (Restated) FY23 FY21 FY22 FY23 FY21 FY22 FY23
(Restated) (Restated) (Restated) (Restated)
Target Actual
Total Electricity Consumption (RM’ 000) FY2021 FY2022 FY2023

AmBank 10,963 9,858 10,115
Total 11,656 10,374 10,662
81
Total Electricity Consumption (kWh)
Electricity consumed from external provider Electricity generated from renewable source Electricity purchased from renewable source
19,330,539
25,396,073
86,019
81,850
18,607,499
4,248,987
38,221
1,990,823
FY21 FY22 FY23 FY21 FY22 FY23 FY21 FY22 FY23
(kWh) (kWh/FTE)
Head Office Buildings FY2021 FY2022 FY2023 FY2021 FY2022 FY2023
Menara AmBank, Jalan Yap Kwan Seng (MAB) 1,550,028 1,364,965 1,467,915 815 627 682
Bangunan AmBank Group, Jalan Raja Chulan (BAG) 1,428,555 973,749 894,772 822 568 611
Menara MBF, Jalan Sultan Ismail (MBF) 229,675 - - 994 - -
Plaza See Hoy Chan, Jalan Raja Chulan (PSC) 35,200 - - 1,006 - -
Damansara Fairway 3 (DF3) 4,267,975 3,912,713 3,902,277 26,675 22,358 20,115
Wisma AmFirst, Kelana Jaya (WAF) 514,841 534,305 623,597 528 541 489
Wisma AmBank, Jalan Pudu (WAB)* 145,737 206,680 118,694 - - -
Total 8,172,011 6,992,412 7,007,255 884 1,383 1,379
Electricity Consumption
FY2022
tCO2e
Head Office Buildings & Branches RM’ 000 kWh kWh/FTE (Restated)
Main Buildings 3,176 6,992 1,383 5,454
Branches 7,198 15,950 8,184 10,559
Total 10,374 22,942 3,276 16,013
FY2023
Head Office Buildings & Branches RM’ 000 kWh kWh/FTE tCO2e
Main Buildings 3,537 7,025 1,379 5,466
Branches 7,007 14,396 6,680 9,730
Total 10,662 21,403 2,972 15,196

Matters Matters
Head Office Buildings FY2021 FY2022

(RM’ 000) (Restated) (Restated) FY2023
Menara MBF, Jalan Sultan Ismail (MBF) 127 - -
Plaza See Hoy Chan, Jalan Raja Chulan (PSC) 17 - -
Damansara Fairway 3 (DF3) 1,697 1,656 1,835
Wisma AmBank, Jalan Pudu (WAB)* 73 101 76
Total 3,665 3,075 3,519
Scope 3 Actual vs. Target Emissions (tCO2e)

332
316
003
262
34
26
FY21 FY22 FY23
Target Actual
Responsible Water Management
In FY2023, our water consumption for all branches and main buildings* was 73.6 megalitres.
* The main buildings exclude Menara AmBank, Wisma AmFirst and Bangunan AmBank Group. No water bill received from building owner, only fixed service charges hence the
water usage cannot be quantified in FY2023.
Responsible Waste Management
No. of Savings Passbook (‘000) A3 & A4 Paper Consumption (no. of sheets - mil)
52
14
44
41
13
30
29
28
10
Target Actual
83
Paper Waste Collected
Breakdown of Paper Waste Collected (tonnes) FY2021 FY2022 FY2023

Damansara Fairway 3 (DF3) 0 0 0
Other (Record Management Service Provider) 60 39 61
Total 72 48 75
Types of Waste Recycled
Recycled Waste by Type (tonnes) FY2021 FY2022 FY2023

Plastic 0.150 0.200 0.302
Paper 1.977 2.041 1.801
Cardboard 1.348 1.674 2.031
Can 0.052 0.043 0.081
Metal 0.066 0.010 0
Total 3.593 3.968 4.215
Types of Waste Generated
Waste Diverted from Disposal (tonnes)
FY21 FY22 FY23

72.8
13.6
9.2
4.0
4.2
3.6
Paper Others (recycled Paper Others (recycled Paper Others

waste) waste) (recycled waste)

Matters Matters
All of our new vendors underwent screening and were found to be 100% compliant in the pre-qualification ESG questionnaires.
Breakdown of Suppliers FY2021 FY2022 FY2023

Total no. of local suppliers 1,129 1,866 1,136
Total no. of international suppliers 96 102 98
Total 1,225 1,968 1,234
Local suppliers with active contracts (%) 89 89 92
Economic Contribution to Suppliers (RM mil)/ (%) FY2021 FY2022 FY2023

Local suppliers 449.3 (83.3%) 1,069.6 (91.3%) 656 (89.6%)
International suppliers 89.8 (16.7%) 101.4 (8.7%) 76 (10.4%)
Total 539 1,171 732
New Suppliers Screened with Environmental and Social Criteria FY2021 FY2022 FY2023
Total no. of new suppliers 40 119 68
Zakat Contributions
Total Investments Total People Zakat

(RM)* Reached Contributions (RM)
2,705,471
1,359,650
33,670
917,779
1,747,040
21,943
991,087
698,950
10,315
FY21 FY22 FY23 FY21 FY22** FY23 FY21 FY22 FY23
* Our investments were channelled into various community empowerment initiatives including our Financial Literacy and Life Aspiration with FINCO and English Literacy
Programmes. We have made bigger impact this year by reaching out to 21, 943 people.
** The data for FY2022 has been restated due to an error made in the reporting year.
85
AmOnline
FY2021 FY2022 FY2023

Registered users 1,235,458 1,401,867 1,565,513
Registered users (%) of rise 28 13 12
Average no. of online transactions (Monthly) 761 87 89
Percentage of online transactions (%) 82 83 82
Percentage of online card activation (%) 63 65 84
Reduction in activation via call centres (%) 16 52 43
Percentage of credit card limit increase application via AmOnline (%) 63 82 84
Successful online enquiries 255 739 1,503
AmAccess Biz
FY2021 FY2022 FY2023

No. of total registered companies 11,161 27,235 39,029
No. of total registered companies using the platform 11,149 20,525 26,364
Volume of monthly transactions 16,689 142,987 368,439
Value of transactions (RM mil) 351 1,635 4,214
Total transactions from digital tokens (%) 76 68 68
Total deposits supported by AmAccess Biz (RM mil) 1,357 4,052 6,969
No. of cyber threats handled 0 0 0
Cases of data loss/ online breaches reported 0 0 0
Any fines/ penalties related to cybersecurity (RM) 0 0 0
Eight of AmBank branches were audited by DOSH and graded “A”, a testament to our continuous efforts towards health and safety in our operations.
No Branch Region Date of Audit Grade % (score)

1 Sitiawan Perak 18/4/2022 A 95.59
2 Sg Bakap Penang 20/4/2022 A 95.15
3 Tampoi Johor South 25/4/2022 A 97.20
4 Kemaman East Coast 27/4/2022 A 98.75
5 Kuala Terengganu East Coast 12/5/2022 A 100.00
6 Ayer Tawar Perak 17/5/2022 A 93.00
7 Labuan Sabah 22/2/2022 A 91.26
8 Ipoh GreenTown Perak 24/2/2023 A 91.40

Matters Matters
Total Employee Training Expenditure by Workforce Category (RM’ 000)
CY2020 CY2021 CY2022

Mid-Management 6,037.4 5,449.1 7,954.9
Professional/ Specialist 7,234.0 10,740.9 10,241.1
Non-Executive 791.7 1,251.9 875.3
Total 14,226.3 17,729.3 19,754.5
Note: This data is reported according to calendar year (CY) to align with the Staff Training Expenditure (STE) report that was submitted to BNM.
Members of the Board by Gender and by Age Group (No. & %)
Gender Age
1 11% 3 13%
22% 2 33% 3
1 11%
FY2021 FY2022 FY2021 FY2022

78% 7
78% 67% 67%

7 33% 3 2 22% 6
6
FY2023 FY2023
67% 78%
6 7
Male Female Below 50 years old 50 - 60 years old Over 60 years old
87
Employees by Gender (No. & %)
38% 3,476 37% 3,045 38%

3,575
FY2021 FY2022 FY2023
62% 5,927 63% 62% 4,873

5,815
Total number of Total number of Total number of

employees at the end of employees at the end of employees at the end of
Financial Year Financial Year Financial Year
9,502 9,291 7,918
Number of male employees Number of female employees
Fixed term or temporary employees Employees by Working Level by Gender (%)

FY2023
FY2021 FY2022 FY2023
0.4% Male
Male
0.2% Female Mid-Management 51 51 51
Permanent employees Non-Executive 32 32 30
FY2023
Total (%) 37.6 37.4 38.5
38.1% Male
Female
61.3% Female
Mid-Management 49 49 49
Total (%) 62.4 62.6 61.5
New Employee Hires
FY2021 FY2022 FY2023

Total number of new hires (headcount) 854 1,158 1,351
Overall new hire rate (%) 9.0 12.5 17.1

Matters Matters
New Hires by Age Group (%)
11 8 7
34
40
43
FY2021 FY2022 FY2023
53
49
55
< 30 years 30 - 45 years > 45 years
New Hires by Gender (%) New Hires by Region (%)
1 3 2 4
45 FY2021 55 45 FY2022 55 FY2021 FY2022
96 94
3 4
49 FY2023 51 FY2023
93
Male Female Peninsular Sabah Sarawak
Employee Turnover Rate (%)
Voluntary Involuntary
Workforce Category/ Year FY2022 FY2023 FY2022 FY2023
Top Management/ Senior Management 5.7 14.7 0.0 0.0
Mid Management 14.0 13.0 0.3 0.1
Professional/ Specialist 16.8 21.2 0.4 0.7
Non-executive 2.7 2.3 0.5 0.2
Total (%) 14.3 17.0 0.4 0.5
89
• FY2023 Branch Inspection Audit at AmBank Group selected branches • OSH Incidents/ Data:
No Branch Region Date of Audit Rating Work-Related Injuries (Employees) CY2020 CY2021 CY2022
1 Sg Siput Perak 27/12/2022 Good Total number of Accidents 8 3 0
2 Menglembu Perak 28/12/2022 Good Accidents with Fatality 0 0 0
3 Kampar Perak 29/12/2022 Good Accidents with Lost Workdays 8 3 0
4 Tanjong Malim Perak 30/12/2022 Good Total Lost Workdays Due to Incidents 360 220 0
5 Bukit Indah Johor South 09/01/2023 Good Accident without Lost Workdays 0 0 0
6 Skudai Johor South 10/01/2023 Good Fatality Rate 0 0 0
7 Setia Tropika Johor South 11/01/2023 Good Lost Time Injury Frequency Rate
8 Melaka Raya MNS 13/03/2023 Good (LTIFR) 0.32 0.12 0
9 Jalan Munshi Lost Time Injury Incident Rate (LTIIR) 0.79 0.30 0
Abdullah MNS 14/03/2023 Good Total Employee (TE) 10,110 9,926 9,736
10 Bandar Utama Manpower Worked (8x26xTE) 25,235,144 24,775,296 24,301,056
Cheng MNS 15/03/2023 Good
11 Ayer Keroh MNS 16/03/2023 Good Note: This data reported according to calendar year (CY) to align with the authority
12 Datuk Lee Fong reporting requirements.
Yee MNS 17/03/2023 Good
Employees by Working Level by Age (%)
FY2021 FY2022 FY2023

Under 30 years old
Mid Management 0.3 0.2 0.3
Professional/ Specialist 92.0 94.0 96.4
Non-Executive 7.7 5.8 3.3
Total (%) 15.3 14.4 13.9
30-50 years old

Total (%) 70.2 69.3 69.0
Over 50 years old

Total (%) 14.5 16.3 17.1

Matters Matters
Employees by Ethnicity (%)
3 3 3
9 9 9
47 48 47
FY2021 FY2022 FY2023
41
41 40
Malay Chinese Indian Others
Employees by Ethnicity by Gender (%)
Year FY2021 FY2022 FY2023

Race/ Gender Male Female Male Female Male Female
Malay 36.7 63.3 36.8 63.2 37.6 62.4
Chinese 38.0 62.0 37.4 62.5 38.9 61.1
Indian 41.6 58.4 41.4 58.5 41.3 58.7
Others 36.1 63.9 34.6 65.4 37.5 62.5
Total (%) 37.6 62.4 37.4 62.6 38.5 61.5
Employees by Vulnerable Group by Gender (Headcount)
Gender Male Female

Year FY2021 FY2022 FY2023 FY2021 FY2022 FY2023
Blind 2 2 1 3 3 3
Deaf 0 0 0 1 1 0
Limb Loss 1 1 1 0 0 0
Walking with Limited Ability 0 0 0 1 1 0
Sight Problem 0 0 0 1 1 0
Total 3 3 2 6 6 3
91
Turnover by Age (%) Employee Turnover Rates by Gender (%)
FY21 FY22 FY23

42.6
39.2
20.0
8.8
8.0
17.4
7.0
13.2
FY2023:
20.0
8.0
FY2022: 17.7 FY2021: 11.0 Male

<30 years old
30-45 years old
> 45 years old
<30 years old
30-45 years old
> 45 years old
<30 years old
30-45 years old
> 45 years old

FY2023:
16.0 FY2022: 12.9 FY2021: 8.0 Female
Turnover by Region (%)
Region/ Year FY2021 FY2022 FY2023

Peninsular 10.0 15.0 17.5
Sabah 6.0 11.0 20.9
Sarawak 11.0 14.0 15.6
Total (%) 10.0 15.0 17.5
Employee Retention (%)
High Performer Retention Rate FY2021 FY2022 FY2023

Total (%) 97.0 95.5 95.7

Matters Matters
Employee Taking Parental Leaves by Gender (%)
FY2021 FY2022 FY2023

Male 2.0 2.6 0.8
Female 4.0 4.0 2.9
Employees Returning to Work After Parental Leave Ended by Gender (%)
FY2021 FY2022 FY2023

Male 92.0 93.3 100.0
Female 95.0 93.2 92.9
Average Training Per Employee
Average Training per Employee (Hours) CY2020 CY2021 CY2022

Total number of training hours (mandatory and non-mandatory) 397,233 461,300 324,058
Average number of mandatory and non-mandatory training hours 47 54 38
Average Training by Gender (Hours)

Male
Mid Management 54 65 48
Average per male employee 48 53 41
Female
Average per female employee 37 54 37
Note: Data is based on calender year (CY) to align with AmBank’s Staff Training Expenditure (STE) report to BNM.
93
Employee Training by Learning Category and Employment Level
Total Employees Trained, by Learning Type CY2020 CY2021 CY2022

Leadership
Total 3 21 916
Soft Skill
Mid Management 3 9 1,185
Professional/ Specialist 6 9 2,901
Total 10 19 4,377
Technical
Mid Management 1,413 1,442 1,503
Professional/ Specialist 5,925 5,932 5,867
Non-Executive 1,105 1,078 1,039
Total 8,489 8,504 8,460
Leadership Development Programmes
CY2020 CY2021 CY2022

No. of participating employees (attended programmes) 222 365 318
Total training hours completed 20,470 28,181 25,033
Average training hours 92 78 79
Average training days 12 10 10
Talent promoted (%) 15% 32% 35%

Matters Matters
Mission Critical Positions (MCP) and Successor Development
CY2020 CY2021 CY2022

Total Mission Critical Positions (MCP) 12 12 21
Total successors 55 56 99
MCP : Successor ratio 1 MCP : 4.6 1 MCP : 4.7 1 MCP : 4.7
Key position with successors (%) 100% 100% 100%
Employee Engagement & Well-being
Employee Engagement Index:
• 7,023 employees responded to the Survey in FY2023
• Achieved 86% Q12 engagement mean compared to 78% in FY2022
Employee Satisfaction Survey
Engagement Survey Index (EEI) FY2021 FY2022 FY2023*

No. of employees who responded to the survey 8,602 8,086 7,023
Participation rate 93% 96% 98%
Engagement mean 77% 78% 86%
Engagement ratio (engaged: not engaged: actively disengaged) 30:60:10 35:57:8 58:37:5
ANTI-MONEY LAUNDERING AND ANTI-CORRUPTION
Communication and Training
Top
Management/
Communication and Training on Anti-Corruption Policies and Senior Mid- Professional/ Non-
Procedures, by Employee Category Management Management Specialist Executive Total
Number of employees that AmBank Group's anti-corruption policies
and procedures have been communicated to 28 1,327 4,812 1,011 7,178
Percentage of employees that AmBank Group's anti-corruption
policies and procedures have been communicated to 100% 100% 100% 100% 100%
Number of employees that have received training on anti-corruption 28 1,327 4,812 1,011 7,178
Percentage of employees that have received training on anti-
corruption 0% 18% 67% 14% 100%
Note: No significant risks related to corruption identified and mitigative controls have been put in place based on the ABCP risk assessment conducted.
95
Audits & Internal Controls
No. of Internal Audit Reviews Conducted and Ratings (%)
4% 6% 3% 1% 10% 3% 9%
FY2021 FY2022 FY2023
277 306 277
90% 86% 88%
Strong (%) Satisfactory (%) Weak (%) Partially Complied (%)
Governance and Ethics FY2021 FY2022 FY2023

No. of complaints and grievances reported through the whistleblowing channel 7 7 4
Scoring for Governance-related disclosures in MSCI 5.5/ 10.0 7.1/ 10.0 6.4/ 10.0
Scoring for Governance-related disclosures in FTSE4Good 4.3/ 5.0 4.3/ 5.0 4.3/ 5.0
Number of misconduct/ malpractice reports received/ resolved 187 113 131

Matters Matters
STATEMENT OF INDEPENDENT ASSURANCE
SIRIM QAS INTERNATIONAL SDN BHD

INDEPENDENT ASSURANCE STATEMENT
To Board of Directors, Stakeholders, and Interested Parties,
SIRIM QAS International Sdn. Bhd. was engaged by AMMB Holdings Berhad (hereafter referred to as AmBank Group) to
perform an independent verification and provide assurance of AmBank Group Sustainability Report 2023. The main
objective of the verification process is to provide assurance to AmBank Group and its stakeholders on the accuracy and
reliability of the information as presented in this report. The verification by SIRIM QAS International applied to selected
sustainability performance information (subject matter) as listed below, within the assurance scope which is included in
AmBank Group Sustainability Report 2023.
The management of AmBank Group was responsible for the preparation of the Sustainability Report. The objectivity and
impartiality of this report is assured as no member of the verification team and no other employee of SIRIM QAS
International was involved in the preparation of any part of AmBank Group Sustainability Report and the Integrated Annual
Report 2023.
The assurance engagement was designed to provide limited assurance in reference to International Standard on Assurance
Engagements (ISAE) 3000, Assurance Engagements other than Audits or Reviews of Historical Financial Information, and
BURSA Sustainability Reporting Guide, irrespective of the organization’s ability to achieve its objectives, targets or
expectations on their subject matter and sustainability-related issues. The assurance activity evaluates the adequacy of
AmBank Group Sustainability Report (limited to selected subject matter, from page 22 to 72 of the Sustainability Report) and
its overall presentation against respective frameworks such as UN-SDGs, GRI Standard, TCFD and other relevant
frameworks. The assurance process involves verification of selected subject matters as follows. Details provided in
Appendix 1 of this statement.
Topic Page no. in SR 2023
Sustainability Governance 22 – 31
Responsible Consumption 45 – 54
Responsible Procurement 55 – 56
Employee Well-Being and Development (including Occupational Safety & Health 64 – 72
The verification was carried out by SIRIM QAS International between May and June 2023, with the following methodologies:
• Reviewing and verifying the traceability, transparency and accuracy of information collected from various sources;
internal and external documentation which are made available during the conduct of assessment.
• Verification of data consistency as presented in the Sustainability Report includes a detailed assessment of the
sampled data.
• Interviewing key personnel responsible for collating information and writing various parts of the statement to
substantiate the veracity of the claims.
97
Enhancements in FY 2023
Limited to the selected subject matters reviewed in this external assurance exercise, AmBank Group keeps a strong drive in
executing their ESG-related programs and achieving the set targets. It has been noted that apart from being certified to
Energy Management Gold System, AmBank Group is now enhancing its management system practices to Environmental
Management System as well.
The verification process was subjected to the following limitations:

• The scope of work did not involve verification of other information reported in AmBank Group’s Integrated Annual
Report 2023.
• The corporate office at Menara Ambank, Jalan Yap Kwan Seng was visited as part of this assurance engagement.
The verification process did not include physical inspections of any of AmBank Group’s operations and assets; and,
• The verification team did not verify any contractor or third-party data.
Conclusion
SIRIM QAS International, a Conformity Assessment Body in Malaysia, is accredited to both ISO 17021-1:2015 and ISO
17065:2012 covering all our operational activities. The appointed assessors performing the assurance engagement were
selected appropriately based on our internal qualifications, training and experience. The verification process is reviewed by
management to ensure that the approach and assurance are strictly followed and operated transparently. During the
verification process, issues were raised, and clarifications were sought from the management of AmBank Group relating to
the accuracy of some of the information contained in the statement. In response to the raised findings, the Sustainability
Report was subsequently reviewed and revised by AmBank Group. It is confirmed that changes that have been incorporated
into the final version of the report have satisfactorily addressed all issues. Based on the scope of the assessment process
and evidence obtained, the following represents SIRIM QAS International’s opinion:
• The level of data accuracy included in AmBank Group Sustainability Report 2023 is fairly stated;
• The level of disclosure of the specific sustainability performance information presented in the report was found to be
properly prepared;
• The personnel responsible were able to demonstrate the origin(s) and interpretation of data contained in the
statement;
• The Sustainability Report provides a reasonable and balanced presentation of the sustainability performance of
AMMB Holdings Berhad.
List of Assessors.
1) Ms. Aernida Abdul Kadir : Team Leader
2) Ms. Kamini Sooriamoorthy : Team Member
3) Ms. Suzalina Kamaralarifin : Team Member
Statement Prepared by: Statement Approved by:
AERNIDA BINTI ABDUL KADIR MOHD HAMIM BIN IMAM MUSTAIN
Team Leader Senior General Manager

Management System Certification Department Management System Certification Department
SIRIM QAS International Sdn. Bhd. SIRIM QAS International Sdn. Bhd
Date: 7 June 2023 Date: 9 June 2023

Note 1:
This Independent Assurance Statement has been issued based on the content verified prior to the approval date. SIRIM QAS International Sdn Bhd
shall not be responsible for any changes or additions made after the referred date (9 June 2023).

Matters Matters
99
GRI CONTENT INDEX
Statement of Use:
AMMB Holdings Berhad has reported the information cited in this GRI content index for the period of 1 April 2022 to 31 March 2023 (FY2023) with reference to the GRI
Standards.
GRI 1 Used: GRI 1: Foundation 2021
GRI Standards Brief Descriptions of the Disclosures Brief Information (Key Disclosures and References) Page Number
GRI 2: General Disclosures 2021
The organisation and its reporting practices
2-1 Organisational details Overview of AmBank Group Pg. 10 - 15

AMMB Holdings Berhad is headquartered in Kuala Lumpur, Malaysia, with a
market capitalisation of more than RM12 billion as at 31 March 2023
2-2 Entities included in the organisation’s sustainability Basis of This Report Pg. 4-5
reporting This Report covers information pertaining to our three main subsidiaries: AmBank
(M) Berhad; AmBank Islamic Berhad; and AmInvestment Bank Berhad
2-3 Reporting period, frequency and contact point Basis of This Report Pg. 4-5
This Report covers the financial year 1 April 2022 to 31 March 2023 (FY2023)
unless otherwise specified and is reported annually.
Contact Point: Sustainability Department at [email protected]
2-4 Restatements of information Some data from previous years have been restated according to updated Pg. 50-51, 60,
methodologies and numbers 80-83, 85
2-5 External assurance Statement of Independent Assurance Pg. 97-99
Selected indicators in this Report have been independently assured by SIRIM
QAS International Sdn. Bhd.
Activities and workers
2-6 Activities, value chain and other business relationships What We Do: Core Business Segments Pg. 13-14
2-7 Employees 7,918 employees Pg. 70, 88
2-8 Workers who are not employees We engaged 1,234 suppliers in FY2023 Pg. 56, 85
Governance
2-9 Governance structure and composition Our robust governance structure sets out clear functions with specific roles and Pg. 22-23
responsibilities to address our sustainability risks and opportunities
2-10 Nomination and selection of the highest governance Refer to Corporate Governance Overview Statement in the Integrated Annual -
body Report 2023 (Pg. 120-143)
2-11 Chair of the highest governance body AMMB Holdings Berhad is chaired by Tan Sri Md Nor bin Md Yusof, who is an -
Independent Non-executive Chairman and a Member of the Board. Refer to page
122 in the Integrated Annual Report 2023
2-12 Role of the highest governance body in overseeing The Board has overall accountability and responsibility of the Group’s Pg. 22-23
the management of impacts sustainability/ ESG agenda sustainability-related decision making, including
climate-related matters
2-13 Delegation of responsibility for managing impacts The Board is supported by the Group Sustainability Council (GSC), which Pg. 22-24
is chaired by the Group CEO. AmBank Islamic CEO, who is also the Group
Sustainability Champion, is the Alternate Chairman of the GSC

Matters Matters
GRI CONTENT INDEX
Governance
2-14 Role of the highest governance in sustainability This Sustainability Report is approved by AMMB Holdings Berhad’s Board of Pg. 22-23
reporting Directors
2-15 Conflicts of interest Refer to Corporate Governance Overview Statement in the Integrated Annual -
Report 2023 (Pg. 120-138)
2-16 Communication of critical concerns Refer to Corporate Governance Overview Statement in the Integrated Annual -
Report 2023 (Pg. 120-133)
2-17 Collective knowledge of the highest governance body Refer to Corporate Governance Overview Statement in the Integrated Annual -
Report 2023 (Pg. 134-143)
2-18 Evaluation of the performance of the highest Refer to Corporate Governance Overview Statement in the Integrated Annual -
governance body Report 2023 (Pg. 134-143)
2-19 Remuneration policies Refer to Corporate Governance Overview Statement in the Integrated Annual -
Report 2023 (Pg. 134-143)
2-20 Process to determine remuneration Refer to Corporate Governance Overview Statement in the Integrated Annual -
Report 2023 (Pg. 134-143)
2-21 Annual total compensation ratio Refer to Corporate Governance Overview Statement in the Integrated Annual -
Report 2023 (Pg. 134-143)
Strategy, policies and practices
2-22 Statement on sustainable development strategy Leadership Commitment Pg. 6-9

2-23 Policy commitments Key Sustainability Policies and Guidelines Pg. 22-30, 36-37
2-24 Embedding policy commitments Sustainability considerations are incorporated in the relevant policies and Pg. 26-30
guidelines to drive sustainability in our organisation and ensure that they are
embedded in our business decision making processes and strategies
2-25 Processes to remediate negative impacts We have in place the processes to remediate negative impacts including Pg. 74-75
addressing grievances
2-26 Mechanisms for seeking advice and raising concerns We have in place a Whistleblowing Protection Policy and various grievance Pg. 74-75
mechanisms to encourage stakeholders to report any corruption or malpractices
without fear of repercussions
2-27 Compliance with laws and regulations Zero incidents of non-compliance with laws and regulations during the reporting Pg. 35, 54
period
• Zero non-compliance of products and services
• Zero environmental non-compliance
2-28 Membership associations Associations & Memberships Pg. 31
We engage actively in the relevant industry associations and memberships to
foster knowledge sharing and collaborative discussions to adopt industry best
practices
101
GRI CONTENT INDEX
Stakeholder engagement
2-29 Approach to stakeholder engagement We engage regularly with key stakeholder groups via various internal and Pg. 18
external platforms
2-30 Collective bargaining agreements Core Sustainability Matters: Material Topic – Employee Well-being & Pg. 67
Development
36% of AmBank Group employees are covered by collective bargaining
agreements
GRI 3: Material Topics 2021
3-1 Process to determine material topics We conduct a materiality assessment once every few years and review the Pg. 19-21
material matters on an annual basis to ensure that our sustainability matters
remain relevant to local and global trends
3-2 List of material topics We have identified nine sustainability matters that are material to our business Pg. 19-21
and stakeholders

3-3 Management of material topics Core Sustainability Matters: Customer Satisfaction Pg. 33
416-1 Assessment of the health and safety impacts of 78% of products/ services covered and assessed for compliance Pg. 35, 78
product and service categories
416-2 Incidents of non-compliance concerning the health Zero incidents of non-compliance with regulations concerning product and Pg. 35, 78
and safety impacts of products and services services
417-3 Incidents of non-compliance concerning marketing Zero incidents of non-compliance with regulations concerning marketing Pg. 35, 78
communications communications
Mitigating ESG & Climate Related Risks
3-3 Management of material topics Core Sustainability Matters: Mitigating ESG & Climate Related Risks Pg. 36-37
Non-GRI Exclusion List As of 2022, ceased to provide new/ additional loans/ financing or refinancing Pg. 38
Disclosure to coal-fired power plants and businesses where coal or coal-related activities
contribute at least 20% of the business’ total revenue or raw materials for its
production unless critical for national energy security
Financial Inclusion
3-3 Management of material topics Core Sustainability Matters: Financial Inclusion Pg. 42
203-1 Infrastructure investments and services supported Providing financial access and capacity building to the underbanked including Pg. 42-43
SMEs and affordable home financing schemes
203-2 Significant indirect economic impacts Almost RM27 billion of loans/ financing to SMEs, RM1.4 billion* disbursed under Pg. 44, 79
the affordable home financing schemes with 5,916 homes purchased and RM1.21
billion of auto-financing for B40 segment
* Total cumulative disbursement since FY2020 for affordable homes: RM4.6

billion with 21,752 affordable homes purchased.

Matters Matters
GRI CONTENT INDEX
3-3 Management of material topics Core Sustainability Matters: Responsible Consumption Pg. 45-47
302-1 Energy consumption within the organisation 21,403,212 kWh in total electricity consumption Pg. 51-52, 81-83
305-1 Direct (Scope 1) GHG emissions Scope 1: Direct Emissions from Fuel Consumption Pg. 48-50, 80
70.0 tCO2e for Scope 1 emissions in FY2023
305-2 Energy indirect (Scope 2) GHG emissions Scope 2: Indirect Emissions from Electricity Consumption Pg. 50-52, 81-82
15,196 tCO2e for Scope 2 emissions in FY2023
305-3 Other indirect (Scope 3) GHG emissions Scope 3: Indirect Emissions from Employee Travel Pg. 52, 83
262 tCO2e for Scope 3 emissions in FY2023
305-5 Reduction of GHG emissions 30% reduction in total carbon emissions Pg. 49, 79
306-1 Waste generation and sigifinant waste-related impacts Our waste is mostly from paper consumption Pg. 48
306-2 Management of significant waste-related impacts Monitoring paper consumption,promoting the use of passbook-less transactions, Pg. 48, 53
encouraging waste segregation and raising awareness on waste management
306-3 Waste generated 17.8 tonnes of waste diverted from disposal Pg. 54, 83-84
3-3 Management of material topics Core Sustainability Matters: Responsible Consumption Pg. 55
204-1 Proportion of spending on local suppliers RM656 million contributed to our local suppliers Pg. 56, 85
308-1 New suppliers that were screened using 68 new suppliers were screened using environmental criteria Pg. 56, 85
environmental criteria
414-1 New suppliers that were screened using social criteria 68 suppliers were screened using social criteria Pg. 56, 85
3-3 Management of material topics Core Sustainability Matters: Community Empowerment Pg. 57
203-1 Infrastructure investments and services supported Community programmes. 21,943 people reached Pg. 58-60, 85
413-1 Operations with local community engagement, impact Through AmKasih Programme, we engage with the local communities and Pg. 58-60
assessments, and development programs contribute to their sustainable development
103
GRI CONTENT INDEX

3-3 Management of material topics Foundation Sustainability Matters: Digital Transformation & Data Security Pg. 61-62
418-1 Substantiated complaints concerning breaches of Zero cases of data loss/ online breaches reported Pg. 63, 86
customer privacy and losses of customer data
3-3 Management of material topics Foundation Sustainability Matters: Employee Well-being & Development Pg. 64-65
401-1 New employee hires and employee turnover Employee turnover rate: Voluntary 17.0%, Involuntary 0.5% Pg. 71-72, 89-92
401-3 Parental leave Both male and female employees are provided with parental leave, with 0.8% Pg. 93
and 2.9% utilising this benefit in 2023, respectively
403-1 Occupational health and safety management system AmBank Group’s OSH Management is aligned with the ISO 45001:2018 (2018- Pg. 65
2024). All our employees, workers, activities and workplaces are covered by the
Group’s OSH Management System, which was established by Banking Services
at the Head Office and YKS Branch
403-4 Worker participation, consultation, and communication Group-wide OSH awareness and feedback are conducted through various Pg. 69
on occupational health and safety activities and platforms
403-5 Worker training on occupational health and safety Invested approximately RM80,000 in various physical and virtual OSH training Pg. 68, 72
programmes for 428 AmBankers
403-9 Work-related injuries 0 Lost Time Injury Rate and Lost Time Injury Incident Rate Pg. 72, 89
404-1 Average hours of training per year per employee 38 hours per year per employee; 41 hours for male and 37 hours for female Pg. 93-95
404-2 Programmes for upgrading employee skills and RM19.8 million were invested in the training and development of employees. Pg. 65, 69 &
transition assistance programmes The programmes included leadership & talent development and AmBank Digital 93-95
Academy
405-1 Diversity of governance bodies and employees 44% of Top/ Senior Management positions were held by women, whilst 33% of Pg. 70-71, 87-88
the Board of Directors were female
3-3 Management of material topics Foundation Sustainability Matters: Anti-Money Laundering & Anti-Corruption Pg. 73-75
205-1 Operations assessed for risks related to corruption 277 internal audits conducted, no significant risks have been noted Pg. 76-77, 95-96
205-2 Communication and training about anti-corruption 100% of Members of the Board and employees received communication and Pg. 76, 95
policies and procedures training on the Group’s anti-corruption policies and procedures
205-3 Confirmed incidents of corruption and actions taken Zero incidents of corruption Pg. 76

AMMB Holdings Berhad
Registration No. 199101012723 (223035-V)
(Incorporated in Malaysia)
22nd Floor, Bangunan AmBank Group

No. 55, Jalan Raja Chulan
50200 Kuala Lumpur
Malaysia
Tel: 603 2036 2633 Fax: 603 2031 6453

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S U STA IN A B ILITY R E P O RT 2023

Dat rmatio ital

ocie Respons on cial In

This Sustainability Report is available on

the website at ambankgroup.com

INSIDE THIS REPORT

SUSTAINABILITY @ AmBank FOUNDATION SUSTAINABILITY

78 Sustainability Performance Data

BASIS OF THIS REPORT

REPORTING PERIOD REPORTING STANDARDS

Responsible Conscious Positive

4 SUSTAINABILITY REPORT 2023

BASIS OF THIS REPORT

Integrated Annual Report Financial Report

The assurance report is shown on pages 97-99.

Please contact our Sustainability Department at [email protected]

DATO’ SULAIMAN MOHD TAHIR

Group Chief Executive Officer

6 SUSTAINABILITY REPORT 2023

Where customers are categorised with a high ESG-

93% earned us the Energy Management Gold Standard (EMGS)

8 SUSTAINABILITY REPORT 2023

As a caring employer, we understand that employee well-being extends beyond

EMPOWERING OUR COMMUNITIES

OVERVIEW OF AmBank Group

OUR VISION PURPOSE

AmBank Group is a leading

We have over three million

10 SUSTAINABILITY REPORT 2023

2023 KEY HIGHLIGHTS

44.3% 10% Account (CASA) Growth

RM1,735.2 RM130.2 (LCR)

Common Equity Tier 1 Deposits From Customers

Branches ATMs CRMs CQMs

<100 people per sq km 16

101-500 people per sq km

501-1,000 people per sq km

1,001-1,500 people per sq km Scan the QR code

12 SUSTAINABILITY REPORT 2023

AmBank (M) Berhad

AmBank Islamic Berhad

AmInvestment Bank Berhad

AmMetLife Insurance Berhad

AmMetLife Takaful Berhad

AMMB Holdings Berhad

100% 100% 100% 100% 100% 100%

AmBank MBFC AmIslamic AmInvestment AIGB AMAB

100% 100% 70% 100%

100% 100% 100% 30%

100% 100% 100%

100% 100% 100% 50%-1 Share

100% 100% 80% 50%+1 Share

33.33% 100% 100%

14 SUSTAINABILITY REPORT 2023

Legend Company Principal Activities

AmBank - AmBank (M) Berhad Commercial banking

MBFC - MBF Cards (M’sia) Sdn Bhd Dormant

AmIslamic - AmBank Islamic Berhad Islamic banking

AmInvestment - AmInvestment Bank Berhad Investment banking

AIGB - AmInvestment Group Berhad Investment holding