The bank’s founder, chairman emeritus, director and adviser Tan Sri Teh Hong Piow (pic) noted that the economic and banking environment was increasingly challenging, and against this backdrop, the bank would take a cautious stance in growing its business.
PETALING JAYA: Public Bank Bhd
saw a 4.5% decline in net profit to RM1.33bil for the second quarter ended June 30, 2019 (2Q19), as the recent cut in the overnight policy rate (OPR) of 25 basis points compressed margins despite it posting a stronger loan growth.
The country’s third largest lender announced that its pre-tax profit fell by 1.5% to RM1.730bil from RM1.757bil.
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