Latest news with #RM6.65
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.
The Star
19-05-2025
- Business
- The Star
FBM KLCI continues consolidation in wait for buying leads
KUALA LUMPUR: The selling pressure seen in the previous week spilled over onto this week as investors awaited fresh leads in the the form of corporate results over the upcoming two weeks. The FBM KLCI dropped 5.18 points to 1,566.57 at the start of the week's trading, reflecting the profit-taking activity on the domestic market following the sharp gains seen in the earlier half of the previous week. According to TA Securities Research, the daily technical momentum indicators on the FBM KLCI are looking toppish and overbought, which suggests blue chips are due for a pullback, or at least a consolidation. "Meanwhile, medium-term momentum and trend indicators on the local benchmark index remain bullish, implying further upside can be expected going forward. "However, stronger buying momentum and liquidity boost are needed to promote a sustained rise to higher ground given the lack of positive catalysts on the local front," it said in its market commentary. Rakuten Trade, meanwhile, said local institutions have turned net sellers to lock in some profits even as foreign funds return to the domestic market. It noted also that recent initial public offerings on Bursa Malaysia have lost some of their lustre, and hopes retail participation will improve on the secondary market. "For today, we expect the index to hover within the 1,570-1,580 range," it said in a note. On the FBM KLCI, the blue chips were broadly lower, weighed down by financial services. CIMB dropped six sen to RM7.12, Hong Leong Bank fell 14 sen to RM20.06 and RHB shed five sne to RM6.65. Nestle dropped 62 sen to RM81.06 while Gamuda shaved four sen to RM4.55. Actives on the broader market included NexG up 0.5 sen to 38 sen, Harvest Miracle flat at 18 sen and Innature rising one sen to 23.5 sen.
