Stronger Q2 earnings for Public Bank, declares RM1b dividend payout

Public Bank founder and chairman Tan Sri Teh Hong Piow said for the first nine months ended Sept 30, 2015, the group reported 9.3% on-year growth in the net profit attributable to shareholders to achieve RM3.57 billion.

KUALA LUMPUR: Public Bank Bhd, which saw its net profit rose 6% to RM1.33bil in the second quarter ended June 30, has declared an interim dividend of 27 sen amounting to a payout of RM1.04bil.

The bank’s revenue in the second quarter rose 3.75% to RM5.17bil against RM4.98bil a year ago. Its earnings per share for the period rose to 34.49 sen per share from 32.53 sen from a year ago.

For the second quarter ended June 30, the group registered a pre-tax profit of RM1.73bil, an improvement of RM184.5mil or 11.9% as compared to the previous corresponding quarter. The improved pre-tax profit was mainly due to higher net interest income, lower loan impairment allowance and higher net fee and commission income, which were partially offset by higher other operating expenses.

For the first six months, Public Bank posted a net profit of RM2.58bil, or 66.81 sen earnings per share, on revenue of RM10.19bil. Its pre-tax profit increased to RM3.37bil, up 5.1% from the corresponding period in 2016.

“The Public Bank group has continued with its positive momentum in sustaining profitability growth. The group’s clear and focused business strategy coupled with its prudent credit culture, continues to underpin its consistent financial performance under the current challenging operating environment,” founder and chairman Tan Sri Teh Hong Piow said in a statement.