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PUBLIC BANK SHARES SHINE IN EARLY TRADE
KUALA LUMPUR, May 12 — Shares of Public Bank rose today and the counter was among the top five actively traded stocks on Bursa Malaysia this morning, hours after the banking group announced record first-quarter net profit.
As at 9.06 am, the stock rose 11 sen to RM4.21 with 4.96 million shares changing hands.
Gains in Public Bank was the major contributor to the key index -- FTSE Bursa Malaysia KLCI (FBM KLCI), which rebounded from its weak performance following the nationwide expansion of the movement control order.
Yesterday, Public Bank announced that its net profit rose to RM1.53 billion in the first quarter ended March 31, 2021 from RM1.33 billion recorded in the same period last year.
In a filing with Bursa Malaysia, it said the improved performance was mainly attributable to lower loan impairment allowance, higher net interest income and net income from the Islamic banking business, as well as higher net fee and commission income.
Revenue, however, slipped to RM5.03 billion from RM5.51 billion, while basic earnings per share improved to 7.88 sen compared with 6.85 sen before.
-- BERNAMA
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