KUALA LUMPUR (Jan 30): PUBLIC BANK BHD [] recorded net profit of RM876.98 million in the fourth quarter ended Dec 31, 2011, up 3.6% from a year ago due to higher net interest and net income from Islamic banking business. It declared a second interim single-tier dividend of 28 sen per share.
It said on Monday that its revenue rose 11.8% to RM3.32 billion from RM2.97 billion a year ago. Its earnings per share were 25.04 sen compared with 24.16 sen.
“For the 4Q ended Dec 31, 2011, the group registered a pre-tax profit of RM1.163 billion, an increase of RM33.0 million or 2.9% as compared to the previous corresponding quarter. The improved performance was mainly due to higher net interest and net income from Islamic banking business.
“This was partially offset by higher other operating expenses and higher loan impairment allowance on higher loan growth achieved. Earnings attributable to equity holders grew by 3.6% or RM30.8 million over the same period,” it said.
Public Bank’s net income rose 4.8% to RM1.882 billion from RM1.795 billion on-year. Its operating profit was RM1.320 billion compared with RM1.269 billion while its allowance for impairment on loans, advances and financing was higher at RM154.64 million compared with RM142.83 million.
There was a share of loss after tax of equity accounted from associated companies of RM3.21 million compared with profit of RM4.58 million.
For FY ended Dec 31, 2011, its earnings rose 14.3% to RM3.483 billion from RM3.048 billion in FY10. Its revenue was RM12.756 billion compared with RM11.035 billion.
Public Bank founder and chairman, Tan Sri Dr Teh Hong Piow said the Public Bank Group delivered yet another strong set of results in 2011 with record net profit of RM3.48 billion. Pre-tax profit increased by 12.8% to RM4.61 billion.
“With a clear lead of having the highest net return on equity of 26.8% amongst the Malaysian banking groups, the group continues to maintain its top ranking in asset quality and cost efficiency in the banking industry with notably lower gross impaired loan ratio of 0.9% and cost-to-income ratio of below 30%,” he said.
It said on Monday that its revenue rose 11.8% to RM3.32 billion from RM2.97 billion a year ago. Its earnings per share were 25.04 sen compared with 24.16 sen.
“For the 4Q ended Dec 31, 2011, the group registered a pre-tax profit of RM1.163 billion, an increase of RM33.0 million or 2.9% as compared to the previous corresponding quarter. The improved performance was mainly due to higher net interest and net income from Islamic banking business.
“This was partially offset by higher other operating expenses and higher loan impairment allowance on higher loan growth achieved. Earnings attributable to equity holders grew by 3.6% or RM30.8 million over the same period,” it said.
Public Bank’s net income rose 4.8% to RM1.882 billion from RM1.795 billion on-year. Its operating profit was RM1.320 billion compared with RM1.269 billion while its allowance for impairment on loans, advances and financing was higher at RM154.64 million compared with RM142.83 million.
There was a share of loss after tax of equity accounted from associated companies of RM3.21 million compared with profit of RM4.58 million.
For FY ended Dec 31, 2011, its earnings rose 14.3% to RM3.483 billion from RM3.048 billion in FY10. Its revenue was RM12.756 billion compared with RM11.035 billion.
Public Bank founder and chairman, Tan Sri Dr Teh Hong Piow said the Public Bank Group delivered yet another strong set of results in 2011 with record net profit of RM3.48 billion. Pre-tax profit increased by 12.8% to RM4.61 billion.
“With a clear lead of having the highest net return on equity of 26.8% amongst the Malaysian banking groups, the group continues to maintain its top ranking in asset quality and cost efficiency in the banking industry with notably lower gross impaired loan ratio of 0.9% and cost-to-income ratio of below 30%,” he said.
