RM8.83 Billion Pre-Tax Profit for 2022 and 5.0 Sen Third Interim Dividend Declaration
For the financial year 2022, the Public Bank Group’s pre-tax profit increased by 19.9% to RM8.83 billion, surpassing the RM8 billion mark for the first time.
Net profit attributable to shareholders increased by 8.2% to RM6.12 billion after taking into account the one-off impact of prosperity tax.
Tan Sri Dato’ Sri Dr. Tay Ah Lek, Managing Director and Chief Executive Officer of Public Bank announced that the Board of Directors of Public Bank declared a third interim dividend of 5.0 sen per share.
Operating Results
In 2022, the Public Bank Group delivered an operating profit before loan impairment and other allowances of RM9.20 billion, representing 7.3% growth as compared with 2021.
Loans and Deposits Businesses
In 2022, the Public Bank Group’s total loans expanded by 5.3% to RM376.9 billion. Domestic loans grew by 5.2% to RM352.1 billion, mainly contributed by growth in residential properties financing of 7.5% and hire purchase financing of 8.9%. Total domestic loans approval rose by 18.8% in 2022, further strengthening the Group’s leading market share in the residential properties and hire purchase financing which stood at 20.6% and 30.2% respectively. The Group also continued to maintain a leading market share of 18.6% in the domestic SME lending.
On deposits business, total customer deposits grew by 3.8% to RM394.7 billion in 2022. Domestic deposits rose by 4.1% to RM367.1 billion, mainly supported by current accounts and fixed deposits which grew by 5.8% and 4.2% respectively.
The Public Bank Group continued to maintain a healthy balance sheet with a gross loan to fund and equity ratio of 81.1% as at the end of 2022.
Asset Quality
As at the end of 2022, the Public Bank Group continued to sustain a resilient gross impaired loans ratio of 0.4%, significantly lower than the domestic banking industry’s average gross impaired loan ratio of 1.7%.
Non-interest Income
In 2022, the Public Bank Group’s unit trust business undertaken by its wholly-owned subsidiary, Public Mutual remained the main contributor to the Group’s non-interest income. Public Mutual recorded a pre-tax profit of RM780.4 million in 2022, contributing 8.8% to the Group’s profit. As at the end of December 2022, Public Mutual continued to capture a large retail market share of 35.4%, with a total of 179 unit trust funds and total assets under management of RM91.8 billion.
Overseas Operations
Public Bank Group’s overseas operations contributed 7.5% to the Group’s profit, mainly attributed to its Hong Kong and Indochina operations.
In 2022, Public Bank Vietnam achieved a profit growth of 23.4%, while Cambodian Public Bank recorded profit growth of 17.9%. To continue capturing good growth opportunities in Indochina, the Public Bank Group will continue to expand its branch network in the region. In Vietnam, following the opening of 3 new branches in 2022, the Group is targeting to open another 8 new branches in 2023 to reach a total of 40 branches. The Group will also continue to expand its range of banking products and services in Vietnam.
Capital and Liquidity Position
As at the end of December 2022, the Group’s capital position remained healthy with common equity Tier 1 capital ratio, Tier 1 capital ratio and total capital ratio standing at 14.6%, 14.6% and 17.6% respectively, after deducting the third interim dividend. Liquidity coverage ratio also remained stable and healthy at 127.7%.
Dividend
The third interim dividend was paid on 22 March 2023 based on the dividend entitlement date of 14 March 2023. Together with the total of first and second interim dividend of 12.0 sen per share declared earlier, the full year dividend for 2022 amounts to 17.0 sen. This represents a total dividend payout of RM3.30 billion or 53.9% of the Group’s net profit for 2022.
Group’s Prospects
Malaysia’s economic growth in 2023 is projected to remain on a positive trajectory supported by resilient domestic demand. However, global headwinds caused by elevated inflationary pressure, tighter monetary policy conditions, persistent supply disruption and geopolitical tensions are likely to continue to weigh on the economy.
Tan Sri Tay said, “The persisting economic challenges will continue to have spillover effects on the banking sector. Consumer and business sentiments will continue to be affected by the high inflationary pressure and softening global growth. However, outlook on the Malaysian economy remains positive, and this will continue to support a conducive environment for banking business growth.
As the Group continues to grow its retail and commercial banking business, it will remain focused on digital transformation, sustainability agenda as well as staff upskilling and reskilling, to ensure sustainable earnings growth and safeguard stakeholders’ interests at all times.”

Tan Sri Dato’ Sri Dr. Tay Ah Lek