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Public Bank Group Achieved Pre-Tax Profit Of RM5.31 Billion For The First Nine Months Of 2018

25 Oct 2018
Tan Sri Dato' Sri Dr. Teh Hong Piow
For the first nine months of 2018, the Public Bank Group continued to make business progress despite the challenging operating environment and reported a pre-tax profit of RM5.31 billion, up 2.9% from the corresponding period in 2017. Net profit attributable to shareholders rose by 5.0% to RM4.19 billion from RM3.98 billion recorded in the previous corresponding period.
The Founder and Chairman of Public Bank, Tan Sri Dato’ Sri Dr. Teh Hong Piow said, “In the environment marked by rising uncertainties and persistent volatility, the Public Bank Group continued to uphold profitability growth, driven largely by its organic growth strategy in its loans and deposits businesses, coupled with its strong and stable asset quality and cost efficiency. These enabled the Group to continue delivering a leading set of financial performance indicators amongst its peers, with its net return on equity standing at 14.7%, cost-to-income ratio at 33.0% and gross impaired loans ratio at 0.5%.
For the 3rd quarter of 2018, the Group reported a net profit of RM1.38 billion. The reflects a growth of 1.6% from the operational net profit of RM1.36 billion achieved in the previous corresponding quarter, after excluding a one-off capital gain on investment of RM43 million.