Public Bank records 20% increase in net profit for 4Q21

By ASILA JALIL / Pic by TMR FILE PIX

Public Bank Bhd recorded a 20.3% year-on-year (YoY) increase in its net profit for the fourth quarter ended Dec 31, 2021 (4Q21) to RM1.38 billion due to lower loan impairment allowance of RM274.3 million and higher net interest income of RM149.9 million, partially offset by lower investment and other income. 

Revenue for the quarter was down by 1.2% YoY to RM4.86 billion. 

For the full financial year ended Dec 31, 2021 (FY21), the group posted a 16.1 YoY  increase in net profit to RM5.66 billion due to increase in net interest income and net income from islamic banking which grew by RM1.14 billion and RM302.3 million respectively. 

Revenue for the year was down by 3.4% YoY to RM19.62 billion. 

The banking group declared a second interim dividend of 7.7 sen per share which will be paid on March 22 based on the dividend entitlement date of March 14. Together with the first interim dividend of 7.5 sen per share, the full year dividend for 2021 amounts to 15.2 sen.