Public Bank posts higher 3Q pre-tax profit

KUALA LUMPUR: Public Bank Bhd posted a higher pre-tax
profit of RM1.313 billion for the third quarter ended Sept 30, 2012, compared with RM1.231 billion registered in the previous corresponding quarter.

In a filing to Bursa Malaysia, the bank said revenue for the period also increased to RM3.589 billion from last year’s RM3.272 billion.

Founder and Chairman of Public Bank, Tan Sri Dr Teh Hong Piow said the group’s gross loans grew at an annualised rate of 11.3 per cent to RM193 billion as at the end of September this year, with domestic loans up 12.8 per cent on an annualised basis.

“Over the same period, we also recorded a steady growth of customer deposits at an annualised rate of 13.2 per cent, with domestic customer deposits increasing by 14 per cent.

“As a result, the group’s loan-to-deposit ratio remained stable at 86.8 per cent,” he was quoted saying in the statement.

Teh said Public Bank continued to be in the forefront amongst its banking peers in Malaysia in terms of recording the highest net return on equity of 24.2 per cent and maintaining the lowest gross impaired loan ratio of 0.7 per cent.

The group’s lending to small and medium enterprises also recorded
commendable growth with an annualised growth rate of 23.6 per cent in the first nine months of this year.

“Our funding position remained robust, supported by the strong retail franchise and large domestic depositor base of over 4.8 million customers.

“Domestic customer deposits grew at an annualised rate of 14 per cent compared with the domestic banking industry’s annualised growth of 8.8 per cent.”

The group expects to maintain its earnings momentum and record satisfactory performance for the fourth quarter of this year.– BERNAMA
FBP SD