Malaysia Public Bank profit up 4.8% to $341.84m in Q2

Its Islamic banking unit performed strongly.

Malaysia’s Public Bank continued its positive earnings momentum after profits rose 4.8% YoY to $341.84m (RM1.4b) in Q2, reports The Star.

Strong net interest income and improvements in its Islamic banking business boosted Public Bank’s quarterly earnings.

Also read: Is Islamic financing the future of Malaysian banks?

Revenue also rose 5.2% YoY to $1.33b (RM5.44b) over the same period. Loan growth also edged up by 4.3% to $70.39b (RM288.3b) on the back of strong mortgage and commercial lending.

“The group was able to sustain good business momentum in the first half of 2018. The higher profit for the period was largely driven by growth in its loan and deposit business, with further impetus from a 4.9% growth in non-interest income,” Public Bank founder and chairman Tan Sri Teh Hong Piow said in a statement.

The bank’s gross impaired loans ratio which clocked in at 0.5% remained the best when compared to the Malaysian banking industry’s gross impaired loans ratio of 1.6%, added Teh.

The bank declared an interim dividend of 32 sen per share.

Also Read

AusPayNet welcomes Aussie gov’t retirement of cheques by 2029

Japan Post Bank posts $1.44b net income for H1 FY2025/3

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit