Public Bank Q3 net profit at RM1.36bil

“Recent developments in the operating environment posed further challenges to the banking industry. While macro headwinds remain, the reduction in the OPR in May 2019 had also resulted in the decline in net interest margins for the banking sector, which affected the profit for the first nine months ended September 2019, ” founder and chairman Tan Sri Teh Hong Piow(pic) said

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

For the 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’s corresponding quarter.