KUALA LUMPUR: Public Bank Bhd posted a lower net profit of RM1.77 billion in the third quarter (Q3) ended Sept 30, down from RM1.84 billion, while revenue rose to RM7.74 billion from RM7.41 billion previously.
Net profit fell 3.8%, or RM69.5 million, due to a RM116.4 million increase in loans/financing impairment allowance arising from the normalisation of credit charges, a RM90.8 million decrease in investment income and a RM47.0 million (3.7%) increase in other operating expenses.
In a filing with Bursa Malaysia, the bank said these were partially mitigated by a RM75.8 million (9.5%) increase in net fee and other income, mainly driven by higher unit trust-related fee income and bancassurance income, and a RM73.5 million (2.6%) increase in net interest and Islamic banking income.
