KUALA LUMPUR: PUBLIC BANK BHD []'s earnings rose 19.9% to RM880.35 million in the second quarter ended June 30, 2011 from RM734.08 million a year ago,
It said on Monday, July 2 revenue increased by 18.3% to RM3.17 billion from RM2.68 billion. Earnings per share were 25.14 sen compared with 20.96 sen.
It declared a first interim dividend of 20% or 20 sen a share which would result in a total dividend payout of RM700 million.
On a quarter-on-quarter, Public Bank's pre-tax profit grew by 5.9% to RM1.16 billion in the second quarter of 2011 as compared to the first quarter of 2011.
Net profit attributable to shareholders grew by 6.4% to RM880 million in 2Q of 2011 as compared to the first quarter of 2011.
For the first half, it posted a record half-year pre-tax profit of RM2.26 billion.
Its chairman Tan Sri Teh Hong Piow said 'The Public Bank group's track record of profitability remained strong, with net profit attributable to shareholders growing by 20.3% in the first half of 2011 and maintains the high net return on equity of 27.1% of the Group.'
'Domestic loan growth remained strong, achieving an annualised growth rate of 14.5% whilst gross impaired loan ratio declined to below 1%.'
Pre-tax profit increased by 18.7% to RM2.26 billion as compared to RM1.90 billion a year ago.
Net profit attributable to shareholders grew by 20.3% to RM1.71 billion from RM1.42 billion in the previous corresponding period.'' Annualised net return on equity stood at 27.1%.
On the overseas operations, he said the group remained committed to expanding its overseas operations, particularly the group's Hong Kong and Cambodian operations.
'The group currently has a network of 83 branches in Hong Kong and three branches in Shenzhen in China, with further plans to open three new branches in Hong Kong by the end of 2011. In Cambodia, the group has 21 branches, with another six branches targeted to be opened in the second half of 2011,' said Teh.
It said on Monday, July 2 revenue increased by 18.3% to RM3.17 billion from RM2.68 billion. Earnings per share were 25.14 sen compared with 20.96 sen.
It declared a first interim dividend of 20% or 20 sen a share which would result in a total dividend payout of RM700 million.
On a quarter-on-quarter, Public Bank's pre-tax profit grew by 5.9% to RM1.16 billion in the second quarter of 2011 as compared to the first quarter of 2011.
Net profit attributable to shareholders grew by 6.4% to RM880 million in 2Q of 2011 as compared to the first quarter of 2011.
For the first half, it posted a record half-year pre-tax profit of RM2.26 billion.
Its chairman Tan Sri Teh Hong Piow said 'The Public Bank group's track record of profitability remained strong, with net profit attributable to shareholders growing by 20.3% in the first half of 2011 and maintains the high net return on equity of 27.1% of the Group.'
'Domestic loan growth remained strong, achieving an annualised growth rate of 14.5% whilst gross impaired loan ratio declined to below 1%.'
Pre-tax profit increased by 18.7% to RM2.26 billion as compared to RM1.90 billion a year ago.
Net profit attributable to shareholders grew by 20.3% to RM1.71 billion from RM1.42 billion in the previous corresponding period.'' Annualised net return on equity stood at 27.1%.
On the overseas operations, he said the group remained committed to expanding its overseas operations, particularly the group's Hong Kong and Cambodian operations.
'The group currently has a network of 83 branches in Hong Kong and three branches in Shenzhen in China, with further plans to open three new branches in Hong Kong by the end of 2011. In Cambodia, the group has 21 branches, with another six branches targeted to be opened in the second half of 2011,' said Teh.
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