PETALING JAYA: Public Bank Group reported a pre-tax profit of RM8.93 billion and net profit attributable to shareholders of RM7.15 billion for financi...
Tay says Public Bank Group will continue to position itself for sustainable growth in the years to come.Public Bank Group reported a pre-tax profit of RM8.93 billion and net profit attributable to shareholders of RM7.15 billion for financial year 2024 , higher by 4.6% and 7.5%, respectively, compared with 2023.
With the proactive management of funding cost, Public Bank has been able to maintain a stable net interest margin and generate 5.1% growth in net interest and financing income to RM11.07 billion in 2024. This is complemented by stronger growth in non-interest income, which rose by 15.2% to RM2.85 billion during the period.
The gross impaired loans ratio for 2024 remained low at 0.5%, highlighting Public Bank's strong credit risk management and resilient loan portfolio. Loan loss coverage ratio remained prudent at 166.2% as at end-December 2024. With the first interim dividend of 10 sen per share declared in August 2024, the total dividend for 2024 amounted to 21 sen. This represents a total payout of RM4.08 billion or 57% of the group's net profit for 2024. The second interim dividend will be paid on March 24, with a dividend entitlement date of March 13.
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