Public Bank’s 3Q earnings feel impact of OPR reduction
PUBLIC Bank Bhd’s net profit for the third quarter ended Sept 30, 2019 (3Q19), fell marginally to RM1.36 billion from RM1.38 billion a year ago on negative impact of the cut in the Overnight Policy Rate (OPR) by Bank Negara Malaysia in May.
Earnings per share for the period was 35.1 sen versus 35.64 sen in 3Q18. The bank’s quarterly revenue decreased slightly to RM5.61 million from RM5.62 million in the same period last year.
For the cumulative nine months (9M19), Public Bank’s net profit dropped marginally to RM4.11 billion, while revenue increased 2.25% year-on-year (YoY) to RM16.8 billion.……
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