Public Bank confident of asset quality

KUALA LUMPUR: Public Bank Bhd is confident that its asset quality can be contained to maintain its profitability above the industry's, thanks to its prudent lending culture.

Managing director and CEO Tan Sri Tay Ah Lek said asset quality is not a major concern for the banking group despite the economic uncertainty.

"Our prudent credit culture has been inculcated by Tan Sri Teh Hong Piow since he founded the bank. This has been (maintained) over the last 50 years," he said at Public Bank's AGM here this morning.

Public Bank's gross impaired loan ratio stood at 0.5% in 2016, the lowest among domestic commercial banking groups.