KUALA LUMPUR, May 30 — Public Bank Bhd’s net profit eased to RM1.40 billion in the first quarter ended March 31, 2022 (Q1 2022) from RM1.53 billion in the same quarter last year due to the imposition of the one-off Prosperity Tax.
Revenue also declined to RM4.89 billion in the quarter under review from RM5.03 billion previously, it said in a filing with Bursa Malaysia today.
Public Bank founder, chairman emeritus, director and adviser, Tan Sri Teh Hong Piow said in Q1 2022, the group continued to sustain a resilient net return-on-equity of 11.8 per cent and an efficient cost-to-income ratio of 33.2 per cent.
“Overall, the operating environment still remains highly challenging. However, the group’s sound fundamentals, coupled with its strategic vigilance and agility, enabled the group to sustain financial resilience,” he said. — Bernama
