Public Bank 3Q Net Profit Falls 3.8 Pct To RM1.77 Bln
KUALA LUMPUR, Nov 6 (Bernama) -- Public Bank Bhd posted a lower net profit of RM1.77 billion in the third quarter (3Q) ended Sept 30, down from RM1.84 billion, while revenue rose to RM7.74 billion from RM7.41 billion previously.
Net profit fell 3.8 per cent, or RM69.5 million, due to a RM116.4 million increase in loans/financing impairment allowance arising from the normalisation of credit charges, a RM90.8 million decrease in investment income and a RM47.0 million (3.7 per cent) increase in other operating expenses.
In a filing with Bursa Malaysia, the bank said these were partially mitigated by a RM75.8 million (9.5 per cent) increase in net fee and other income, mainly driven by higher unit trust-related fee income and bancassurance income, and a RM73.5 million (2.6 per cent) increase in net interest and Islamic banking income.
“Other comprehensive loss (net) of the group for the current quarter increased by RM385.5 million to RM451.0 million, mainly attributable to higher losses on revaluation of financial investments arising from higher market yields on bonds, partially mitigated by gains from the translation of foreign operations,” it said.
For the nine months of 2026, net profit was marginally higher at RM5.349 billion versus RM5.348 billion a year ago, while revenue rose to RM22.67 billion from RM22.08 billion previously.
On prospects, the group said it will continue to uphold its commitment to strengthening its role as a financial intermediary in support of national development, prioritise prudence in managing credit risk, uphold strong corporate governance, and ensure effective risk management to safeguard stakeholder value.
“The Public Bank Group will strive to maintain its market-leading position in the domestic retail consumer as well as small and medium enterprises (SME) through its multi-delivery channels and efficient customer service.
“The Group will remain focused on its core financing segments, namely residential property financing, passenger vehicle financing and SME financing businesses,” it said.
Public Bank added that the group will also continue to enhance its cybersecurity efforts to manage the risks of cyber fraud and scams, and is highly committed to safeguarding customers’ confidential information, as well as reinforcing cyber resilience and operational integrity.
Meanwhile, in an update on the group’s proposal to privatise its 73.23 per cent owned Hong Kong-based unit, Public Financial Holdings Ltd, it said the privatisation is expected to be completed by Dec 16, 2026.
“Barring any unforeseen circumstances, the proposed privatisation is expected to have a positive impact on the group’s future earnings and earnings per share,” it said.
-- BERNAMA