The bank is expected to see positive earnings growth for financial year 2023 amid downside risks.
CGS-CIMB Research is projecting the bank’s net profit to rise 21.7% in FY23, driven by the absence of the prosperity tax and a healthy top-line expansion. — Bloomberg, which posted a whopping net profit of RM1.71bil in the fourth quarter ended Dec 31, 2022 , is expected to see positive earnings growth for financial year 2023 amid downside risks.
At the top line, the research house is forecasting net interest income to rise 3.7% and non-interest income to increase 24.7% in FY23. Public Bank’s net profit for 4Q22 rose 24.1% to RM1.71bil or 8.83 sen per share, against RM1.38bil or 7.11 sen per share in the same quarter last year, with revenue rising 24.79% to RM6.06bil from RM4.86bil.
For the full year, Public Bank’s net profit surged to RM6.12bil from RM5.7bil in FY21, as revenue rose to RM21.43bil from RM19.62bil.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Public Mutual declares RM6mil in distributions for three fundsKUALA LUMPUR: Public Bank Bhd’s wholly-owned subsidiary, Public Mutual Bhd has declared distributions amounting to over RM6mil for three funds for the financial year ended Feb 28, 2023.
Read more »
Exim Bank: Scheme announced in 2023 Budget will strengthen businessesKUALA LUMPUR, Feb 27 — The Exporters’ Development Incentive Scheme or “Skim Insentif Pemampanan Pengeksport” (SIP2) announced in Budget 2023 will strengthen businesses as...
Read more »
Untung sebelum cukai Public Bank RM8.83 bilionKumpulan Public Bank mencatatkan peningkatan keuntungan sebelum cukai bagi tahun kewangan 2022, sebanyak 19.9 peratus kepada RM8.83 bilion.
Read more »
Public Bank records earnings jump to RM1.71bil in 4QKUALA LUMPUR: Public Bank Bhd, which posted an improved earnings result in its 2022 financial year, expects the banking sector to remain supported by the positive growth of the Malaysian economy.
Read more »
Public Bank net profit climbs to RM6.12b in FY2022KUALA LUMPUR, Feb 27 — Public Bank Bhd’s net profit increased to RM6.12 billion for the financial year ended Dec 31, 2022 (FY2022) compared with RM5.66 billion a year ago,...
Read more »
Michelle Yeoh, Ke Huy Quan make history at SAG Awards 2023Michelle Yeoh was named outstanding film actress for her performance in the multiverse-jumping drama-comedy.
Read more »