Public Bank Q3 net profit at RM1.36bil

Tan Sri Teh Hong Piow

KUALA LUMPUR: Public Bank Bhd’s net profit slipped marginally by 1.5% in the third quarter ended Sept 30, 2019 to RM1.36bil, compared with RM1.38bil a year ago.

For the third quarter, the lender posted a pre-tax profit of RM1.76bil, a marginal increase of RM2.1mil or 0.1% as compared to a pre-tax profit of RM1.75bil in the previous year corresponding quarter a year ago. The increase was mainly due to higher net income from Islamic banking business and higher net interest income arising from loans growth, despite the negative effect of the 0.25% Overnight Policy Rate (OPR) reduction in May 2019.