Public Bank quarter one earnings up 12.6%

Founder and group chairman Tan Sri Teh Hong Piow, said the higher growth in revenue was mainly contributed by Lonpac.

PETALING JAYA: Public Bank Bhd, the country’s third-largest bank by assets, recorded higher earnings in the first quarter ended March 31 (1Q18) as its net profit rose by nearly 12.6% year-on-year (y-o-y).

In a filing with Bursa Malaysia, the banking group announced that its bottom line had risen to RM1.41bil, compared with RM1.25bil a year ago. The higher profit was primarily underpinned by the sustained growth of 4% in the group’s net interest income, supported by a 15.6% growth in non-interest income