Latest news with #PublicBankGroup
BusinessToday
21-05-2025
- Business
- BusinessToday
Solid Start For Public Bank With Revenue Of RM7.3 Billion And Profit Of RM1.7 Billion
Public Bank Group announced its financial performance for the first quarter ended 31 March 2025, with pre-tax profit reaching RM2.31 billion, an 8.5% increase compared to the same period in 2024. The Group's net profit also saw growth, rising by 5.6% to RM1.75 billion. The Group's net interest and financing income increased by 3.5% to RM2.80 billion, supported by a stable net interest margin and growth in loans and deposits. Non-interest income showed a stronger increase, rising by 18.9% to RM772.1 million. Key financial indicators reported by Public Bank include: Total loans and deposits expanded at annualised growth rates of 5.6% and 3.5%, respectively. Net return on equity was 12.4%. Cost-to-income ratio stood at 35.0%. Gross impaired loans ratio was 0.5%. Loan-to-fund and equity ratio was 83.9%. Common Equity Tier 1 capital ratio was 14.0%, and the total capital ratio was 16.8%. On prospects, the banking group acknowledged concerns about potential disruptions to international trade due to reciprocal tariffs announced by the United States. While a 90-day pause has been implemented, uncertainties remain about the long-term impact on global growth. The bank noted that Malaysia, being an open economy and a key trade partner to the US, is susceptible to these trade tensions. However, it also pointed to supportive domestic measures such as wage hikes, ongoing infrastructure projects, a stable employment market, and a diversified economic structure, which are expected to mitigate some of the downside risks. Tan Sri Tay, in the statement, emphasised the Public Bank Group's commitment to maintaining long-term resilience and sustainable growth. The Group plans to focus on its core competencies, capitalize on emerging opportunities and support customers in adapting to the evolving economic landscape Related
The Star
21-05-2025
- Business
- The Star
Public Bank posts higher 1Q net profit of RM1.75bil
Public Bank managing director and CEO Tan Sri Tay Ah Lek KUALA LUMPUR: Public Bank Bhd reported an improved financial peformance in the first quarter of 2025 (1Q25), attributed to growth in net interest income as well as a surge in non-interest income contribution from its newly acquired insurance business. "Despite prevailing challenges in the operating environment, the Public Bank Group's latest financial performance reflects the resilience and strength of its fundamentals. "Prudent cost management yielded an efficient cost-income ratio of 35%, coupled with continued top-line growth, return on equity stood at 12.4%," said Public Bank managing director and CEO Tan Sri Tay Ah Lek in a statement. The financial group annnounced a quarterly net profit of RM1.75bil, up from RM1.65bil in the year-ago quarter, raising its earnings per share to 9.04 sen from 8.52 sen previously. This was on the back of revenue of RM7.31bil, an increase from RM6.65bil in the previous comparative quarter. During the three-month period, non-interest income increased 18.9% year-on-year (y-o-y) to RM772.1mil, mainly owing to the contribution from general insurer LPI Capital Bhd , as well as the enhanced performance of the group's investment and foreign exchange income. Public Bank's 44.15% stake in LPI saw a contribution of RM32.6mil to the group's net profit attributable to shareholders in 1Q25. The group's wholly-owned unit trust company, Public Mutual, recorded a quarterly pre-tax profit of RM208mil, which constituted 9% of the group's total pre-tax profit. "Supporting this performance was its market-leading position, with a retail market share of 33.9% and RM97bil in net asset value across 185 unit trust funds as at end-March 2025," said the group. Meanwhile, the group's net interest and financing income improved 3.5% to RM2.8bil. During the quarter, Public Bank's loans portfolio grew 6.3% to RM403.9bil on an annualised basis. The group's deposit franchise maintained a healthy liquidity position with gross loan-to-fund and equity ratio of 83.9% as at end-March 2025.
New Straits Times
21-05-2025
- Business
- New Straits Times
Public Bank posts strong Q1 results with 5.6pct rise in profit to RM1.75bil
KUALA LUMPUR: Public Bank Bhd's net profit rose 5.6 per cent to RM1.75 billion in the first quarter (Q1) ended March 31, 2025, from RM1.65 billion a year ago. In a statement, the group said its revenue rose 9.9 per cent to RM7.31 billion in the quarter from RM6.65 billion last year supported by healthy loans and customer deposits growth. "Supported by a stable net interest margin as well as healthy loan and deposit growth, the group's net interest and financing income improved by 3.5 per cent to RM2.80 billion. "Non-interest income increased by 18.9 per cent to RM772.1 million compared with the corresponding period last year," it said. Meanwhile, Public Bank said the group continued to maintain sound asset quality, as reflected in its low gross impaired loans ratio of 0.5 per cent as at end-March 2025. Loan loss coverage, standing at 159.9 per cent, continued to provide an ample buffer against potential credit losses, it said. Public Bank managing director and chief executive officer Tan Seri Tay Ah Lek said despite prevailing challenges in the operating environment, the group's latest financial performance reflects the resilience and strength of its fundamentals. "Prudent cost management yielded an efficient cost income ratio of 35.0 per cent, coupled with continued top-line growth, and return on equity stood at 12.4 per cent," Tay said. The Public Bank Group recorded total loans of RM430.1 billion as at March 2025, which marked a 5.6 per cent annualised loan growth for the first quarter of 2025. Domestically, the group's loan portfolios grew by 6.3 per cent to RM403.9 billion on an annualised basis. On its asset quality, Public Bank continued to demonstrate asset quality resilience, with a healthy gross impaired loans ratio of 0.5, as at end-March 2025. The Public Bank Group's capital position remained healthy and stable. The group's common equity tier 1, tier 1, and total capital ratios stood at 14.0 per cent, 14.1 per cent, and 16.8 per cent, respectively, as at the end of March 2025. On prospect, Tay said as the Public Bank Group continues to navigate an evolving global and domestic landscape, the group remains steadfast in fostering long-term resilience and sustainable growth. "We will continue to build on our core competencies, seize emerging opportunities, and support our customers to adapt to the fast-changing landscape. "By staying agile and forward-looking, we strive to continually deliver sustainable value to all of our stakeholders," he added.
