Public Bank 2Q net profit at RM1.38b, dividend 7.5 sen

Public Bank founder and chairman Tan Sri Teh Hong Piow said: “Despite its resilient asset quality, the group continued to adopt a conservative stance in its preemptive provisioning to cushion against potential asset quality risks."

KUALA LUMPUR: Public Bank posted higher net profit of RM1.38bil in the second quarter ended June 30, 2021 compared with a year but on a quarter-on-quarter it showed a decline due to higher preemptive provisions for loan impairment.

The banking group announced on Friday 2Q net profit climbed 38.4% from RM1bil a year ago. Its revenue rose by 3.8% on-year to RM4.92bil from RM4.74bil. Earnings per share were 7.13 sen compared with 5.16 sen. It declared an interim dividend of 7.5 sen.