Public Bank records RM1.41bil net profit in Q4

“Sustaining stable profitability and preserving strong asset quality will remain as the group’s strategic focus, going forward, ” said founder and chairman Teh in a statement.

PETALING JAYA: Public Bank Bhd, the country’s second largest lender by market value, recorded a net profit of RM1.41bil in the fourth quarter ended Dec 31,2019.

The net profit for the three-month period, which was flattish on a year-on-year (y-o-y) basis, was weighed down by higher other operating expenses – which is in tandem with increased business activities; increased allowance for impairment on loans, advances and financing; as well as higher tax expense and zakat.