Public Bank Group for the full nine months posted a pre-tax profit of RM6.31 billion and a net profit attributable to shareholders of RM4.41 billion.
Tan Sri Dato’ Sri Dr. Teh Hong Piow, Founder, and Chairman commented, “Despite the prolonged headwinds in the global economy, the Malaysian economy remained on the recovery trajectory, mainly supported by improving domestic demand.
Tapping on the growing economy, Public Bank Group’s pre-tax profit improved by 13.5% for the first nine months of 2022, compared with the corresponding period in 2021. Net profit attributable to shareholders grew by 3.0% after taking into account the one-off impact of prosperity tax.” The 9-month profit growth was mainly due to higher net interest income growth by 7.7% and lower loan impairment allowances by 70.0%, but partially offset by lower non-interest income by 11.0%.
Group’s loans and deposits continued to achieve healthy annualised growth of 5.8% and 4.5% respectively. Backed by its
strong fundamentals and prudent management, the Group sustained a resilient net return of equity of 12.4% and efficient costto-income ratio of 32.6%. Gross impaired loans ratio remained strong at 0.3%, despite the expiry of PEMULIH repayment assistance programme.”
In view of the favourable performance, Tan Sri Teh said he is pleased to announce that, “The Board of Directors is declaring a second interim dividend of 4.0 sen per share, which will result in a total dividend payout of RM776.4 million. The second interim dividend will be paid on 23 December 2022 based on the dividend entitlement date of 15 December 2022.”
expansion, with the job market and income prospects improving.
