Public Bank, PBBANK (Stock Quote 1295) has announced the 1st quarter financial report for financial year 2009. These are the few key points of the report:
· The Group’s pre-tax profit, excluding the ING goodwill payment, shows a marginal drop of RM25.7 million or 3.3% to RM 744.9 million. It is a drop of RM68 million or 8.4% as compared to the pre-tax profit of RM812.9 million for the preceding quarter ended 31 December 2008.
· Net profit attributable to equity holders is lower by 17.9% to RM589.3 million compared to the previous corresponding quarter. This was due to the one-off goodwill payment of RM200 million received from ING in respect of a regional strategic alliance on bancassurance distribution in the previous corresponding quarter.
· Non-Performing loan (NPL) improved to below 1.0% from 1.1% a year ago. The NPL balance is RM1.23 billion as at 31 March 2009.
· Public Bank recorded a pre-tax profit of RM437.0 million for the first quarter of financial year 2009 and was lower than the pre-tax profit of RM804.5 million achieved in the previous corresponding quarter.
· Pre-tax profit contribution from the Group’s overseas operations decreased by RM32.3 million or 33.0% from the previous corresponding quarter to RM65.7 million.
· The EPS has decreased to 17.4 cent in the 1st quarter compared to 21.4 cent in the previous corresponding quarter.
· The Net assets per share is RM2.78.
· Total assets is RM199,226 million and total liabilities is RM188,882 million.
· The Group’s pre-tax profit, excluding the ING goodwill payment, shows a marginal drop of RM25.7 million or 3.3% to RM 744.9 million. It is a drop of RM68 million or 8.4% as compared to the pre-tax profit of RM812.9 million for the preceding quarter ended 31 December 2008.
· Net profit attributable to equity holders is lower by 17.9% to RM589.3 million compared to the previous corresponding quarter. This was due to the one-off goodwill payment of RM200 million received from ING in respect of a regional strategic alliance on bancassurance distribution in the previous corresponding quarter.
· Non-Performing loan (NPL) improved to below 1.0% from 1.1% a year ago. The NPL balance is RM1.23 billion as at 31 March 2009.
· Public Bank recorded a pre-tax profit of RM437.0 million for the first quarter of financial year 2009 and was lower than the pre-tax profit of RM804.5 million achieved in the previous corresponding quarter.
· Pre-tax profit contribution from the Group’s overseas operations decreased by RM32.3 million or 33.0% from the previous corresponding quarter to RM65.7 million.
· The EPS has decreased to 17.4 cent in the 1st quarter compared to 21.4 cent in the previous corresponding quarter.
· The Net assets per share is RM2.78.
· Total assets is RM199,226 million and total liabilities is RM188,882 million.