Public Bank founder and chairman Tan Sri Teh Hong Piow (pic) 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 Bhd
posted a higher net profit of RM1.38bil in the second quarter ended June 30, 2021 compared with a year ago but on a quarter-on-quarter basis, it showed a decline due to higher preemptive provisions for loan impairment.
The banking group said its second-quarter net profit climbed 38.4% from RM1bil a year ago.
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