Public Bank net profit at RM1bil in second quarter

Elaborating on the first half-year results, founder and chairman Tan Sri Teh Hong Piow said the group’s pre-tax profit fell by 15.3% to RM3.01bil

KUALA LUMPUR: Public Bank Bhd reported a net profit of RM1bil in the second quarter, down by 24.8% from RM1.33bil a year ago due to a one-off net modification loss of RM498.4mil related to Covid-19 relief measures.

“These had resulted in lower overall net interest income and net income from Islamic banking business of RM319.2mil and RM101.9mil, respectively, ” the bank said.