Public Bank Q3 pre-tax profit rises to RM1.55b
Published on: Friday, October 24, 2014
KUALA LUMPUR: Public Bank Bhd's pre-tax profit for the third quarter (Q3) ended Sept 30, 2014, increased to RM1.55 billion from RM1.36 billion recorded in the same period last year.Revenue rose to RM4.32 billion from RM3.87 billion previously, the bank said in a statement Thursday.Founder and Chairman Tan Sri Teh Hong Piow said the better results were mainly due to the increase in operating revenue coupled with stable credit costs.
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"The increase in net interest income in the current quarter was attributable to the commendable loan and deposit growth as well as the positive impact arising from the hike in the overnight policy rate and the recently completed rights issue," he said.Despite the challenging operating environment, Teh said the bank continued to perform well and achieved a double-digit annualised loan growth of 10.2 per cent, outpacing the banking system's annualised loan growth of 6.9 per cent. Stay up-to-date by following Daily Express’s Telegram channel.
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