Public Bank Q1 net profit slightly higher at RM1.41bil

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’s net profit for the first quarter ended March 31, 2019 (1Q19) came in slightly higher at RM1.41bil from the RM1.405bil reported in the same period a year ago.

The bank, the third-largest lender known for its prudence, cautions that while the Malaysian economy is expected to remain on a sustained growth path in 2019, it is likely to be another year of challenges, given the prevailing external headwinds. This is expected to weigh down on the domestic sentiment, with increased downside risk to the domestic economic environment.