KUALA LUMPUR: Public Bank Bhd’s pre-tax profit for the first quarter ended March 31, 2015 grew by 12.2 per cent to RM1.49 billion from RM1.34 billion a year ago.
Its revenue improved to RM4.60 billion from RM3.95 billion previously, the bank said in a filing to Bursa Malaysia today.
Chairman Tan Sri Teh Hong Piow said the 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 per cent and in tandem with that, the group’s customer deposits also increased favourably at an annualised growth rate of 12.8 per cent,” he said in a statement today.
The bank also planned to launch attractive campaigns to reward both new and existing retail customers in placing more funds with the group, as well as be partially supplemented by wholesale deposits, he said.
On prospects, Teh said the group would continue to focus on its core retail banking and financing business, while maintaining its prudent credit policies as well as upholding strong corporate governance.
He said the group would also continue to leverage on its strong ‘PB’ brand and its wide and efficient branch network as well as its excellent customer service to support long-term sustainable growth.
Teh said the Malaysian economy was expected to remain resilient albeit at a moderate growth rate of 4.5 to 5.5 per cent this year, backed by domestic demand.
On the banking landscape, he said the bank expected continued net interest margin compression due to external headwinds and intense market competition.
“The group is expected to maintain its satisfactory performance for the rest of the year despite facing these challenges,” he said. -- BERNAMA
Its revenue improved to RM4.60 billion from RM3.95 billion previously, the bank said in a filing to Bursa Malaysia today.
Chairman Tan Sri Teh Hong Piow said the 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 per cent and in tandem with that, the group’s customer deposits also increased favourably at an annualised growth rate of 12.8 per cent,” he said in a statement today.
The bank also planned to launch attractive campaigns to reward both new and existing retail customers in placing more funds with the group, as well as be partially supplemented by wholesale deposits, he said.
On prospects, Teh said the group would continue to focus on its core retail banking and financing business, while maintaining its prudent credit policies as well as upholding strong corporate governance.
He said the group would also continue to leverage on its strong ‘PB’ brand and its wide and efficient branch network as well as its excellent customer service to support long-term sustainable growth.
Teh said the Malaysian economy was expected to remain resilient albeit at a moderate growth rate of 4.5 to 5.5 per cent this year, backed by domestic demand.
On the banking landscape, he said the bank expected continued net interest margin compression due to external headwinds and intense market competition.
“The group is expected to maintain its satisfactory performance for the rest of the year despite facing these challenges,” he said. -- BERNAMA
