Public Bank leads trio of banks with higher quarterly profits [WATCH]
KUALA LUMPUR: Public Bank Bhd, Malaysia's third-largest bank by total assets, led a trio of lenders reporting higher quarterly profits on Wednesday, as the banking sector continued to show resilience despite a more challenging operating environment.
![Public Bank leads trio of banks with higher quarterly profits [WATCH]](/img/3621727)
KUALA LUMPUR: Three Malaysian banks reported higher quarterly profits on Wednesday, showcasing the sector's resilience despite a challenging operating environment. Public Bank Bhd, the nation's third-largest bank by total assets, led the trio, posting a 3.7 percent increase in net profit. Bank Islam Malaysia Bhd saw a 9.8 percent rise, while Alliance Bank Malaysia Bhd's first-quarter earnings surged by 25 percent.
Public Bank's net profit reached RM1.82 billion for the quarter ending June 30, 2026, up from RM1.76 billion a year earlier, driven by a 3.5 percent revenue growth to RM7.61 billion. The bank credited this growth to a 21.3 percent increase in non-interest income, primarily from stronger unit trust sales. Public Bank also declared a first interim dividend of 10.5 sen per share, totaling RM2.04 billion for the year ending Dec 31, 2026.
Bank Islam's net profit grew 9.8 percent to RM139.12 million, while its revenue increased 6.3 percent to RM1.36 billion. Alliance Bank's earnings jumped 25 percent to RM248.32 million for the first quarter, with revenue growing 2.5 percent to RM630.93 million. The bank's success was attributed to higher loan volumes and non-interest income, though operating expenses increased by 7.8 percent due to ongoing investments in technology and talent under its Acceler8 strategy.
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