Public Bank Q2 net profit at RM1.33b, Div 33c

Tan Sri Teh Hong Piow: “The economic and banking environment was increasingly challenging. In addition to this, arising from the reduction of OPR in May 2019, domestic banks were faced with a decline in net interest margins which affected the profit for the half year ended 30 June 2019."

KUALA LUMPUR: Public Bank Bhd posted lower net profit of RM1.33bil in the second quarter ended June 30, 2019 due to the 25 basis points cut in the Overnight Policy Rate (OPR) in May despite stronger loan growth.

It announced on Wednesday its net profit declined by 4.5% from RM1.396bil a year ago. Its pre-tax profit fell by 1.5% to RM1.730bil from RM1.757bil. It declared an interim dividend of 33 sen a share totalling RM1.28bil.