Public Bank founder, chairman emeritus Tan Sri Teh Hong Piow said 2020 will be exceptionally challenging and earnings will be under pressure for banks. Public Bank Group’s resilient capital position, as well as its strong asset quality and large loan loss reserves, continue to provide a strong buffer to the group in navigating any challenges.
KUALA LUMPUR: Public Bank Bhd
's net profit fell by 5.7% to RM1.33bil in the first quarter ended March 31,2020 from RM1.41bil a year ago as the banking industry faced heightened earnings pressure.
It announced on Friday its revenue dipped by 0.9% to RM5.51bil from RM5.56bil a year ago. Earnings per share were 34.24 sen compared with 36.32 sen.
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