Did Public Bank meet expectations in the first quarter?
Higher operating costs, combined with increased loan provisions, drove the net profit of PBBANK (PBBANK, 1295, Main Board Financial Stock) down 3.54% year-on-year to RM1,653,349,000 in the first quarter of fiscal year 2024.
The revenue for the first quarter was 10.97% from the year to RM6.79 billion 4723,000.
According to the statement, the bank's total loan volume as of the end of March increased by 6.3% per year and continues to maintain its dominant position in the financing market.
As for total deposits, the annual increase was 7.1%, of which domestic deposits increased 7.3% to RM391.9 billion.
The revenue for the first quarter was 10.97% from the year to RM6.79 billion 4723,000.
According to the statement, the bank's total loan volume as of the end of March increased by 6.3% per year and continues to maintain its dominant position in the financing market.
As for total deposits, the annual increase was 7.1%, of which domestic deposits increased 7.3% to RM391.9 billion.
Source: Nanyang Siang Pao
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