Public Bank shares up on higher Q2 results

PETALING JAYA: Public Bank Bhd’s shares rose 4 sen to RM20.46 today after the bank reported higher net profit and revenue for its second quarter ended June 30, 2017.

At 11.18am, its share price rose 0.2% to RM20.46 with a total of 364,000 shares traded. The stock closed at RM20.42 yesterday.

Yesterday, the bank reported a 6.02% increase in net profit to RM1.33 billion during the quarter from RM1.25 billion a year ago, on the back of higher net interest income, lower loan impairment allowance and higher net fee and commission income.

Revenue for the quarter rose 3.75% to RM5.16 billion from RM4.98 billion a year ago. Its chairman Tan Sri Teh Hong Piow said that the group will be able to continue its positive momentum despite the challenging operating environment.