Public Bank Bhd posts 3.6% increase in net profit

PETALING JAYA: Public Bank Bhd posted a 3.6% year-on-year increase in net profit to RM877mil for its fourth quarter ended Dec 31, 2011, and cited the improved performance as mainly due to higher net interest and net income from its Islamic banking business.

 

However, the bank told Bursa Malaysia that that this was partially offset by higher other operating expenses and higher loan impairment allowance on higher loan growth achieved.

Revenue for the quarter under review grew 11.8% year-on-year to RM3.3bil.For its full financial year (FY11), the bank recorded a 14.3% year-on-year increase in net profit to RM3.48bil.Revenue grew 15.6% year-on-year to RM12.76bil in FY11.

The bank said during FY11, it recorded improved earnings mainly due to higher net interest and net income from Islamic banking business by RM464.6mil (8.6%) and higher net fee and commission income by RM87.1mil (8.4%).This was driven by continued strong loans and customer deposits growth.

http://biz.thestar.com.my/news/story.asp?file=/2012/1/30/business/20120130145017&sec=business

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