PBBANK 1295 Share Price

The Public Bank Group’s profit before tax grew by 19.9% or RM1,464.5 million to RM8,831.1 million in 2022, surpassing the RM8 billion mark for the first time. The higher profit before tax was mainly due to healthy loans and deposits growth as well as positive effects of the increase in Overnight Policy Rate (“OPR”) by 100 basis points (“bps”) and lower allowance for impairment on loans, advances and financing by RM835.6 million, partially offset by drop in other operating income by RM201.6 million and higher other operating expenses by RM270.1 million. Moving Forward, The Group will continues to operate efficiently, maintain prudence in management of credit risk while preserving its strong corporate governance and sound overall risk management practices. The Public Bank Group is also committed to ensure that it remains well-capitalised and well-funded to support its business, while safeguarding the interests of its stakeholders. The Group’s healthy capital and liquidity position coupled with its resilient asset quality and prudent loan loss reserves will enable the Group to generate sustainable growth through challenging times and business cycles.

The Group registered a pre-tax profit of RM2,022.6 million, a marginal increase of RM22.4 million or 1.1% as compared to the pre-tax profit of RM2,000.3 million for the preceding quarter. The improved performance was mainly due to higher net interest income of RM113.3 million (5.4%) arising from the positive effect of OPR hike of 25 bps and healthy loans growth, as well as lower loan impaiment allowance of RM19.8 million (19.9%)

Bursa Malaysia ended the morning session on a firm note, with the key index staying in positive territory as sentiment in the market recovered following rising hope for a COVID-19 vaccine. At lunch break, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 8.64 points to 1,640.56 after moving between 1,627.53 and 1,644.5 throughout the session. Among the heavyweights, Public Bank rose 16 sen to RM20.62.

Banking stocks are among the value gainers this week. Banking stocks have regained some lost ground over the past two weeks as investors were adding cyclical stocks to their portfolios to hedge investment risks. Public Bank Bhd went up 54 sen. The banks’ quarterly earnings will be closely watched amid concern on asset quality.

In Financial Year End 2019, the directors’ remuneration was 79.41 million. It was fair compared to average in listed companies, considering the employees’ remuneration of 2741.6 million and auditor’s remuneration of 2757 thousands

For the 4th quarter ended 31 December 2019, the Group registered a pre-tax profit of RM1,822.5 million, an increase of RM60.7 million as compared to the pre-tax profit of RM1,761.8 million for the preceding quarter. Net profit attributable to equity holders increased by RM43.2 million to RM1,405.9 million over the same period. The improvement was mainly due to higher foreign exchange income, higher net interest income, higher investment and other income.