Public Bank FY17 earnings at record RM5.47b, Div 34c
Public Bank founder and chairman Tan Sri Teh Hong Piow said the FY17 financial results were yet another milestone with pre-tax profit of RM7.12bil.
KUALA LUMPUR: Public Bank Bhd 
posted an improved set of financial results for the financial year ended Dec 31, 2017 with earnings at a record RM5.47bil, up 5% from the RM5.20bil a year ago.
It reported on Thursday that its revenue increased to RM20.858bil from RM20.102bil.
It proposed a final dividend of 34 sen a share, bringing the total dividend for the year to 61 sen compared with 32 sen a year ago and 58 sen for FY16.
In the fourth quarter, its earnings rose 0.2% to RM1.485bil from RM1.482bil a year ago. Its revenue increased by 5.2% to RM5.35bil from RM5.08bil. Earnings per share were 38.47 sen compared with 38.40 sen.
Public Bank founder and chairman Tan Sri Teh Hong Piow said the FY17 financial results were yet another milestone with pre-tax profit of RM7.12bil, surpassing the RM7bil mark for the first time.
“This represents 8.6% growth from the pre-tax profit of RM6.55bil achieved a year ago. Net profit attributable to shareholders grew by 5.1% to RM5.47bil, translating to a net return on equity of 15.8% for 2017,” he said.
The banking group's strong financial results were underpinned by a commendable 7.9% total net income growth. This was attributed to steady loan growth coupled with continuous drive on fee-based revenue and effective cost management.
“With the resilient performance in 2017, the Public Bank group continued to achieve a high net return on equity of 15.8% whilst maintaining its low gross impaired loan ratio of 0.5% and an efficient cost-to-income ratio of 31.9%.
“The results are a validation of the group’s effective organic growth strategies and sustainable business model. We have benefited from our disciplined execution of our growth strategies whilst preserving prudent risk management practices to ensure sustainable and stable returns,” he said.
posted an improved set of financial results for the financial year ended Dec 31, 2017 with earnings at a record RM5.47bil, up 5% from the RM5.20bil a year ago.It reported on Thursday that its revenue increased to RM20.858bil from RM20.102bil.
It proposed a final dividend of 34 sen a share, bringing the total dividend for the year to 61 sen compared with 32 sen a year ago and 58 sen for FY16.
In the fourth quarter, its earnings rose 0.2% to RM1.485bil from RM1.482bil a year ago. Its revenue increased by 5.2% to RM5.35bil from RM5.08bil. Earnings per share were 38.47 sen compared with 38.40 sen.
Public Bank founder and chairman Tan Sri Teh Hong Piow said the FY17 financial results were yet another milestone with pre-tax profit of RM7.12bil, surpassing the RM7bil mark for the first time.
“This represents 8.6% growth from the pre-tax profit of RM6.55bil achieved a year ago. Net profit attributable to shareholders grew by 5.1% to RM5.47bil, translating to a net return on equity of 15.8% for 2017,” he said.
The banking group's strong financial results were underpinned by a commendable 7.9% total net income growth. This was attributed to steady loan growth coupled with continuous drive on fee-based revenue and effective cost management.
“With the resilient performance in 2017, the Public Bank group continued to achieve a high net return on equity of 15.8% whilst maintaining its low gross impaired loan ratio of 0.5% and an efficient cost-to-income ratio of 31.9%.
“The results are a validation of the group’s effective organic growth strategies and sustainable business model. We have benefited from our disciplined execution of our growth strategies whilst preserving prudent risk management practices to ensure sustainable and stable returns,” he said.
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