PBBANK (1295) - Public Bank Q1 earnings up 15% to RM1.17b
Monday, 20 April 2015
KUALA LUMPUR: Public Bank Bhd’s earnings rose 15.1% to RM1.171bil in the first quarter ended March 31, 2015 from RM1.017bil a year ago due to higher net interest income and higher net fee and commission income.
It announced on Monday its revenue increased by 16.5% to RM4.60bil from RM3.948bil. Earnings per share were 30.34 sen compared with 29.04 sen.
Public Bank explained the improved earnings were mainly due to higher net interest income of RM131.2mil (9.4%) and higher net fee and commission income of RM47.4mil (14.7%).
However, these were partially offset by higher other operating expenses of RM46.9mil (7.2%) mainly due to higher personnel costs which were in tandem with the increased headcount to support business expansion.
Its founder and chairman, Tan Sri Teh Hong Piow said pre-tax profit grew by 12.2% to RM1.49bil for the same period.
“The Public Bank group has a head start in achieving its 2015 targets, particularly in its lending and deposit-taking businesses despite operating in a more subdued operating environment.
“The group registered a strong loan growth at an annualised rate of 13.1% and in tandem with that, the group’s customer deposits also increased favourably at an annualised growth rate of 12.8%,” he said..
Public Bank recorded a net return on equity of 17.1%, gross impaired loan ratio of 0.6% and cost-to-income ratio of 31.0%.
Teh said the banking group’s ability to continuously achieve the best in net return on equity while maintaining the lowest gross impaired loan ratio and cost-to-income ratio has enabled the group to rank highly amongst its banking peers in Malaysia.
In Q1, 2015, the group achieved a commendable growth of 15.7% in its non-interest income as compared to the corresponding quarter in 2014. The strong growth was attributed to higher income from its unit trust business, bancassurance, banking services and investment income.
Teh said the Public Bank Group’s unit trust management business through its unit, Public Mutual Bhd, continued to contribute positively to the group’s financial performance.
For the first quarter of 2015, Public Mutual recorded a strong year-on-year double-digit growth of 20.3% in its pre-tax profit.
http://www.thestar.com.my
Monday, 20 April 2015
KUALA LUMPUR: Public Bank Bhd’s earnings rose 15.1% to RM1.171bil in the first quarter ended March 31, 2015 from RM1.017bil a year ago due to higher net interest income and higher net fee and commission income.
It announced on Monday its revenue increased by 16.5% to RM4.60bil from RM3.948bil. Earnings per share were 30.34 sen compared with 29.04 sen.
Public Bank explained the improved earnings were mainly due to higher net interest income of RM131.2mil (9.4%) and higher net fee and commission income of RM47.4mil (14.7%).
However, these were partially offset by higher other operating expenses of RM46.9mil (7.2%) mainly due to higher personnel costs which were in tandem with the increased headcount to support business expansion.
Its founder and chairman, Tan Sri Teh Hong Piow said pre-tax profit grew by 12.2% to RM1.49bil for the same period.
“The Public Bank group has a head start in achieving its 2015 targets, particularly in its lending and deposit-taking businesses despite operating in a more subdued operating environment.
“The group registered a strong loan growth at an annualised rate of 13.1% and in tandem with that, the group’s customer deposits also increased favourably at an annualised growth rate of 12.8%,” he said..
Public Bank recorded a net return on equity of 17.1%, gross impaired loan ratio of 0.6% and cost-to-income ratio of 31.0%.
Teh said the banking group’s ability to continuously achieve the best in net return on equity while maintaining the lowest gross impaired loan ratio and cost-to-income ratio has enabled the group to rank highly amongst its banking peers in Malaysia.
In Q1, 2015, the group achieved a commendable growth of 15.7% in its non-interest income as compared to the corresponding quarter in 2014. The strong growth was attributed to higher income from its unit trust business, bancassurance, banking services and investment income.
Teh said the Public Bank Group’s unit trust management business through its unit, Public Mutual Bhd, continued to contribute positively to the group’s financial performance.
For the first quarter of 2015, Public Mutual recorded a strong year-on-year double-digit growth of 20.3% in its pre-tax profit.
http://www.thestar.com.my
