Tan Sri Teh Hong Piow said: “Excluding the modification loss, the group’s pre-tax profit and net profit attributable to shareholders declined by 1.2% in 1H20, as compared to the previous corresponding period in 2019."
KUALA LUMPUR: Public Bank Bhd
reported net profit of RM1bil in the second quarter, down by 24.8% from RM1.33bil a year ago due to a mainly due to the one-off day one net modification loss related to Covid-19 relief measures of RM498.4mil.
The banking group said on Friday the 2Q profit was also impacted by the negative effect of OPR reductions during the period.
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