October 18, 2012
KUALA LUMPUR, Oct 18 – Public Bank Bhd posted a higher pre-tax profit of RM1.313 billion for the third quarter ended Sept 30, 2012, compared with RM1.231 billion registered in the previous corresponding quarter.
In a filing to Bursa Malaysia, the bank said revenue for the period also increased to RM3.589 billion from last year’s RM3.272 billion.
Founder and Chairman of Public Bank, Tan Sri Dr Teh Hong Piow said the group’s gross loans grew at an annualised rate of 11.3 per cent to RM193 billion as at the end of September this year, with domestic loans up 12.8 per cent on an annualised basis.
“Over the same period, we also recorded a steady growth of customer deposits at an annualised rate of 13.2 per cent, with domestic customer deposits increasing by 14 per cent.
“As a result, the group’s loan-to-deposit ratio remained stable at 86.8 per cent,” he was quoted saying in the statement.
Teh said Public Bank continued to be in the forefront amongst its banking peers in Malaysia in terms of recording the highest net return on equity of 24.2 per cent and maintaining the lowest gross impaired loan ratio of 0.7 per cent.
The group’s lending to small and medium enterprises also recorded commendable growth with an annualised growth rate of 23.6 per cent in the first nine months of this year.
“Our funding position remained robust, supported by the strong retail franchise and large domestic depositor base of over 4.8 million customers.
“Domestic customer deposits grew at an annualised rate of 14 per cent compared with the domestic banking industry’s annualised growth of 8.8 per cent.”
The group expects to maintain its earnings momentum and record satisfactory performance for the fourth quarter of this year. – Bernama
Showing posts with label Pbb. Show all posts
Showing posts with label Pbb. Show all posts
Thursday 18 October 2012
Thursday 30 August 2012
Public Bank - Return on Retained Earnings
Public Bank
(Figures are in sens)
(Figures are in sens)
| Year | DPS | EPS | Retained EPS | |||
| 2002 | 9.5 | 25.5 | 16 | |||
| 2003 | 9.9 | 30 | 20.1 | |||
| 2004 | 42.8 | 36.2 | -6.6 | |||
| 2005 | 48.3 | 40.7 | -7.6 | |||
| 2006 | 37.9 | 47.8 | 9.9 | |||
| 2007 | 45.5 | 60.7 | 15.2 | |||
| 2008 | 56.7 | 69.5 | 12.8 | |||
| 2009 | 40.1 | 71.9 | 31.8 | |||
| 2010 | 37.2 | 87 | 49.8 | |||
| 2011 | 46.8 | 99.5 | 52.7 | |||
| Total | 374.7 | 568.8 | 194.1 | |||
| 2002-2011 | ||||||
| DPO | 66% | |||||
| EPS increase (sen) | 74.0 | |||||
| Return on retained earnings | 38% | |||||
Monday 23 July 2012
Public Bank Q2 earnings at RM952.69m, 20 sen dividend
KUALA LUMPUR: Public Bank Bhd posted net profit of RM952.69mil in the second quarter ended June 30, 2012, a slight dip of 0.2% compared with RM954.88mil a year ago due to a change in accounting policy a year ago.
It said on Monday its revenue increased by 9.3% to RM3.465bil from RM3.170bil. Earnings per share were 27.20 sen compared with 27.27 sen. It declared a dividend of 20 sen a share, similar to a year aof.
The banking group as a result of the change in accounting policy, the results for Q2 a year ago were restated, with pre-tax profit restated from RM1.16bil to RM1.262bil. Net profit attributable to equity holders was restated from RM880.4mil to RM954.9mil.
In the first half, its earnings rose 2.96% to RM1.893bil from RM1.839bil in the previous corresponding period while its revenue increased by 10.9% to RM6.839bil from RM6.162bil.
Tan Sri Teh Hong Piow
The banking group's founder and chairman,Tan Sri Teh Hong Piow said the group achieved another strong set of results in the first half of 2012 with pre-tax profit of RM2.49bil in the January-June period.
"As a result of the retrospective application of MFRS 139, the Public Bank group's pre-tax profit and net profit for the corresponding first half of 2011 were restated upwards by RM175mil and RM131mil to RM2.43bil and RM1.84bil respectively," he said.
Teh said hence, the group's pre-tax profit and net profit for the first half of 2012 grew by 2.1% and 3.0% respectively as compared to the higher restated pre-tax profit and net profit for the corresponding first half of 2011.
"Excluding the effects of higher restated profits for the last corresponding period, the group's pre-tax profit and net profit for the same period recorded double-digit growth of 10.0% and 10.9% respectively.
"As compared to the first quarter of 2012, the group's net profit attributable to shareholders for the second quarter grew by RM11.9mil or 1.3% to RM953mil," he said.
The banking group's gross loans increased at an annualised rate of 10.8% in the first half of 2012 to reach RM187.3bil as at end-June. Domestic loans grew at a stronger annualised rate of 12.3%.
As for customer deposits, they grew at an annualised rate of 11.3% in the first half of 2012 while domestic customer deposit growth recorded an annualised growth rate of 12.0%.
Monday July 23, 2012
Friday 22 June 2012
Investor's Checklist: Banks
The business model of banks can be summed up as the management of three types of risk: credit, liquidity, and interest rate.
Investors should focus on conservatively run institutions. They should seek out firms that hold large equity bases relative to competitors and provision conservatively for future loan losses
Different components of banks' income statements can show volatile swings depending on a number of factors such as the interest rate and credit environment. However, well-run banks should generally show steady net income growth through varying environments. Investors are well served to seek out firms with a good track record.
Well-run banks focus heavily on matching the duration of assets with the duration of liabilities. For instance, banks should fund long-term loans with liabilities such as long-term debt or deposits, not short-term funding. Avoid lenders that don't.
Banks have numerous competitive advantages. They can borrow money at rates lower than even the federal government. There are large economies of scale in this business derived from having an established distribution network. the capital-intensive nature of banking deters new competitors. Customer-switching costs are high, and there are limited barriers to exit money-losing endeavors.
Investors should seek out banks with a strong equity base, consistently solid ROEs and ROAs, and an ability to grow revenues at a steady pace.
Comparing similar banks on a price-to-book measure can be a good way to make sure you're not overpaying for a bank stock.
Ref: The Five Rules to Successful Stock Investing by Pat Dorsey
Read also:
Investor's Checklist: A Guided Tour of the Market...
Investors should focus on conservatively run institutions. They should seek out firms that hold large equity bases relative to competitors and provision conservatively for future loan losses
Different components of banks' income statements can show volatile swings depending on a number of factors such as the interest rate and credit environment. However, well-run banks should generally show steady net income growth through varying environments. Investors are well served to seek out firms with a good track record.
Well-run banks focus heavily on matching the duration of assets with the duration of liabilities. For instance, banks should fund long-term loans with liabilities such as long-term debt or deposits, not short-term funding. Avoid lenders that don't.
Banks have numerous competitive advantages. They can borrow money at rates lower than even the federal government. There are large economies of scale in this business derived from having an established distribution network. the capital-intensive nature of banking deters new competitors. Customer-switching costs are high, and there are limited barriers to exit money-losing endeavors.
Investors should seek out banks with a strong equity base, consistently solid ROEs and ROAs, and an ability to grow revenues at a steady pace.
Comparing similar banks on a price-to-book measure can be a good way to make sure you're not overpaying for a bank stock.
Ref: The Five Rules to Successful Stock Investing by Pat Dorsey
Read also:
Investor's Checklist: A Guided Tour of the Market...
Friday 2 March 2012
Public Bank Berhad (At a Glance)
Share Information and Valuation Share Information Per share (sen) Basic earnings 99.5 Diluted earnings 99.5 Net dividend -Cash dividend 48.0 sen -Share dividend - Net assets 424.4 Share price as at 31.12.2011 (RM) - Local 13.38 - Foreign 13.20 Market capitalisation (RM Million) 47,066 Valuation (Local Share) Net dividend yield (%) 3.6 Net dividend yield (including share dividend) [%] 3.6 Dividend payout ratio (%) 48.3 Dividend payout ratio (including share dividend) [%] 48.3 Price to earnings multiple (times) 13.4 Price to book multiple (times) 3.2 Historical EPS & Net Dividends (sen) 2011 EPS 99.5 Cash Dividend 48.0 Share Dividend - 2010 EPS 87.2 Cash Dividend 45.5 Share Dividend - 2009 EPS 73.3 Cash Dividend 41.3 - Share Dividend 1 for 68 2008 EPS 76.9 Cash Dividend 41.0 Share Dividend 1 for 35 2007 EPS 63.3 Cash Dividend 55.3 Share Dividend -  |
| Announcement Date | Financial Yr. End | Qtr | Period End | Revenue RM '000 | Profit/Lost RM'000 | EPS | Amended | ||||||
| 30-Jan-12 | 31-Dec-11 | 4 | 31-Dec-11 | 3,321,633 | 886,054 | 25.04 | - | ||||||
| 17-Oct-11 | 31-Dec-11 | 3 | 30-Sep-11 | 3,272,466 | 907,897 | 25.66 | - | ||||||
| 25-Jul-11 | 31-Dec-11 | 2 | 30-Jun-11 | 3,170,654 | 891,444 | 25.14 | - | ||||||
| 18-Apr-11 | 31-Dec-11 | 1 | 31-Mar-11 | 2,991,607 | 838,629 | 23.63 | Amended | ||||||
Friday 25 November 2011
Public Bank Berhad PBB
Market Watch
| Announcement Date | Financial Yr. End | Qtr | Period End | Revenue RM '000 | Profit/Lost RM'000 | EPS | Amended | ||||||
| 17-Oct-11 | 31-Dec-11 | 3 | 30-Sep-11 | 3,272,466 | 907,897 | 25.66 | - | ||||||
| 25-Jul-11 | 31-Dec-11 | 2 | 30-Jun-11 | 3,170,654 | 891,444 | 25.14 | - | ||||||
| 18-Apr-11 | 31-Dec-11 | 1 | 31-Mar-11 | 2,991,607 | 838,629 | 23.63 | Amended | ||||||
| 25-Jan-11 | 31-Dec-10 | 4 | 31-Dec-10 | 2,971,194 | 860,095 | 24.16 | - | ||||||
ttm-EPS 98.59 sen
Price $ 12.40
Trailing PE 12.6x
Share Price Performance | ||||||||||||||||||||||||||||||||
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Friday 23 September 2011
Wednesday 18 May 2011
Public Bank best-managed company
Nazir voted best CEO, Public Bank best-managed company
By Hamisah HamidPublished: 2011/05/17
Read more: Nazir voted best CEO, Public Bank best-managed company http://www.btimes.com.my/Current_News/BTIMES/articles/16ASIABEST/Article/#ixzz1MfOWuUI3
By Hamisah HamidPublished: 2011/05/17
Read more: Nazir voted best CEO, Public Bank best-managed company http://www.btimes.com.my/Current_News/BTIMES/articles/16ASIABEST/Article/#ixzz1MfOWuUI3
KUALA LUMPUR: Public Bank Bhd emerged top in four out of nine categories under FinanceAsia's "Asia's best managed companies" country listings, while CIMB Group chief executive officer (CEO) Datuk Seri Nazir Razak was voted the "Best CEO".
Maxis' chief Sandip Dass was the runner-up for the "Best CEO", followed by Public Bank chief Tan Sri Tay Ah Lek in third place.
Malaysia's third largest bank in terms of asset and market capitalisation, Public Bank was polled the "Best managed company", "Best corporate governance", "Best corporate social responsibility" and "Most committed to a strong dividend policy".
The country's second largest lender CIMB Group, which topped the polls in "Best investor relations" category, came second after Public Bank in the four categories.
AirAsia Bhd was voted the "Best mid-cap", while integrated media group Media Prima Bhd came second in that category.
Gloves maker Latexx Partners Bhd was voted the "Best small-cap".
Malayan Banking Bhd chief finance officer (CFO) Khairussaleh Ramli was polled the "Best CFO".
Hong-Kong based FinanceAsia revealed the poll results for India and Malaysia on its website yesterday.
The publication has tallied votes from over 300 investors and analysts across the region for its 11th annual poll of Asia's top companies.
Read more: Nazir voted best CEO, Public Bank best-managed company http://www.btimes.com.my/Current_News/BTIMES/articles/16ASIABEST/Article/#ixzz1MfOFzehO
 |
Maxis' chief Sandip Dass was the runner-up for the "Best CEO", followed by Public Bank chief Tan Sri Tay Ah Lek in third place.
Malaysia's third largest bank in terms of asset and market capitalisation, Public Bank was polled the "Best managed company", "Best corporate governance", "Best corporate social responsibility" and "Most committed to a strong dividend policy".
The country's second largest lender CIMB Group, which topped the polls in "Best investor relations" category, came second after Public Bank in the four categories.
AirAsia Bhd was voted the "Best mid-cap", while integrated media group Media Prima Bhd came second in that category.
Malayan Banking Bhd chief finance officer (CFO) Khairussaleh Ramli was polled the "Best CFO".
Hong-Kong based FinanceAsia revealed the poll results for India and Malaysia on its website yesterday.
The publication has tallied votes from over 300 investors and analysts across the region for its 11th annual poll of Asia's top companies.
Read more: Nazir voted best CEO, Public Bank best-managed company http://www.btimes.com.my/Current_News/BTIMES/articles/16ASIABEST/Article/#ixzz1MfOFzehO
Monday 25 April 2011
Tuesday 19 April 2011
Public Bank Q1 net profit rises 21pc
Public Bank Q1 net profit rises 21pc
By Zurinna Raja Adam
Published: 2011/04/19
Public Bank recorded RM828 million in net profit for the first quarter against RM685 million during the same period last year.
Kuala Lumpur: Public Bank Bhd (1295), the country's third largest lender, saw its first-quarter net profit rise by 21 per cent and hopes to continue its "satisfactory" performance for the rest of 2011.
Despite a slowdown in global economy, Public Bank said, the domestic operating environment remained buoyant, due to sustainable domestic demand, with the expectation of between 5 and 6 per cent growth in the economy this year.
Public Bank recorded RM828 million in net profit for the first quarter against RM685 million during the same period last year.
Chairman Tan Sri Teh Hong Piow said the banking group's lending activities remained focused on the retail sector, which accounted for 85 per cent of the group's total loan portfolio.
"This comprises loans to mid-market commercial enterprises as well as loans for the financing of residential properties and the purchase of passenger vehicles," Teh said in a statement yesterday.
On its overseas expansion, he said the group will remain focused on its Hong Kong and Cambodian operations, with plans to open three new branches in Hong Kong and six new branches in Cambodia by the end of this year.
Public Bank's domestic loan base grew by 3.6 per cent during the quarter compared to the domestic banking industry's loan growth of 1.7 per cent in the first two months of 2011.
Its domestic market share of loans and advances stood at 16.2 per cent as at end of February this year.
Public Bank attributed its strong growth in net interest and finance income, which grew 10 per cent during the quarter, on the back of strong organic growth and core customers deposits.
For the first quarter of 2011, Public Bank's domestic retail loan approvals increased by 10 per cent, with housing loan approvals growing at a higher 17 per cent.
The bank approved a total of RM3 billion of loans to domestic small and medium enterprises, 11 per cent higher than the corresponding quarter in 2010.
Public Mutual Bhd, the group's wholly-owned unit trust fund management subsidiary, continued to be the clear market leader in the private unit trust industry, with an overall market share of 45 per cent.
As at end-March 2011, Public Mutual's net assets under management stood at RM42.4 billion, or 16 per cent higher, compared with RM36.6 billion a year ago.
Yesterday, Public Bank's share price closed 2 sen higher to RM13.06.
Read more: Public Bank Q1 net profit rises 21pc http://www.btimes.com.my/Current_News/BTIMES/articles/publcof/Article/index_html#ixzz1JylptVzl
By Zurinna Raja Adam
Published: 2011/04/19
Public Bank recorded RM828 million in net profit for the first quarter against RM685 million during the same period last year.
Kuala Lumpur: Public Bank Bhd (1295), the country's third largest lender, saw its first-quarter net profit rise by 21 per cent and hopes to continue its "satisfactory" performance for the rest of 2011.
Despite a slowdown in global economy, Public Bank said, the domestic operating environment remained buoyant, due to sustainable domestic demand, with the expectation of between 5 and 6 per cent growth in the economy this year.
Public Bank recorded RM828 million in net profit for the first quarter against RM685 million during the same period last year.
Chairman Tan Sri Teh Hong Piow said the banking group's lending activities remained focused on the retail sector, which accounted for 85 per cent of the group's total loan portfolio.
"This comprises loans to mid-market commercial enterprises as well as loans for the financing of residential properties and the purchase of passenger vehicles," Teh said in a statement yesterday.
On its overseas expansion, he said the group will remain focused on its Hong Kong and Cambodian operations, with plans to open three new branches in Hong Kong and six new branches in Cambodia by the end of this year.
Public Bank's domestic loan base grew by 3.6 per cent during the quarter compared to the domestic banking industry's loan growth of 1.7 per cent in the first two months of 2011.
Its domestic market share of loans and advances stood at 16.2 per cent as at end of February this year.
Public Bank attributed its strong growth in net interest and finance income, which grew 10 per cent during the quarter, on the back of strong organic growth and core customers deposits.
For the first quarter of 2011, Public Bank's domestic retail loan approvals increased by 10 per cent, with housing loan approvals growing at a higher 17 per cent.
The bank approved a total of RM3 billion of loans to domestic small and medium enterprises, 11 per cent higher than the corresponding quarter in 2010.
Public Mutual Bhd, the group's wholly-owned unit trust fund management subsidiary, continued to be the clear market leader in the private unit trust industry, with an overall market share of 45 per cent.
As at end-March 2011, Public Mutual's net assets under management stood at RM42.4 billion, or 16 per cent higher, compared with RM36.6 billion a year ago.
Yesterday, Public Bank's share price closed 2 sen higher to RM13.06.
Read more: Public Bank Q1 net profit rises 21pc http://www.btimes.com.my/Current_News/BTIMES/articles/publcof/Article/index_html#ixzz1JylptVzl
Analysts bullish on Public Bank
Analysts bullish on Public Bank
Published: 2011/04/19
Public Bank Bhd remains well-positioned to meet the challenges of rising interest rates, backed by a low duration bond portfolio and lower asset risks, says Kenanga Research.
In fact, a rate hike will increase the bank's net interest income given the higher growth rates of loans and low-cost deposits, it said in a research note today.
"Moreover, management has started managing its interest rate risk with the aim of growing the fee-based income by 30 per cent year-on-year for financial year 2011, via stronger contributions from bancassurance and fund management," it added.
Kenanga Research has rated Public Bank an "outperform" with a target price of RM14.80.
Another research firm, HwangDBS Vickers Research expects Public Bank to continue to steer towards growing non-interest income, particularly bancassurance, supported by forex income.
The research firm believed the bank's unit trusts sales would remain the main driver of non-interest income for now.
HwangDBS Vickers has maintained its "hold" recommendation on the bank with target price of RM13.10.
AmResearch also maintained its "hold" recommendation on Public Bank with an unchanged fair value of RM14.30 per share.
For the first quarter ended March 31, 2011, Public Bank Bhd's pre-tax profit rose 19 per cent to RM1.097 billion from RM922.57 million in the same quarter 2010.
Its revenue jumped to RM2.99 billion from RM2.507 billion previously. -- Bernama
Read more: Analysts bullish on Public Bank http://www.btimes.com.my/Current_News/BTIMES/articles/20110419125044/Article/index_html#ixzz1JyjQQruv
Published: 2011/04/19
Public Bank Bhd remains well-positioned to meet the challenges of rising interest rates, backed by a low duration bond portfolio and lower asset risks, says Kenanga Research.
In fact, a rate hike will increase the bank's net interest income given the higher growth rates of loans and low-cost deposits, it said in a research note today.
"Moreover, management has started managing its interest rate risk with the aim of growing the fee-based income by 30 per cent year-on-year for financial year 2011, via stronger contributions from bancassurance and fund management," it added.
Kenanga Research has rated Public Bank an "outperform" with a target price of RM14.80.
Another research firm, HwangDBS Vickers Research expects Public Bank to continue to steer towards growing non-interest income, particularly bancassurance, supported by forex income.
The research firm believed the bank's unit trusts sales would remain the main driver of non-interest income for now.
HwangDBS Vickers has maintained its "hold" recommendation on the bank with target price of RM13.10.
AmResearch also maintained its "hold" recommendation on Public Bank with an unchanged fair value of RM14.30 per share.
For the first quarter ended March 31, 2011, Public Bank Bhd's pre-tax profit rose 19 per cent to RM1.097 billion from RM922.57 million in the same quarter 2010.
Its revenue jumped to RM2.99 billion from RM2.507 billion previously. -- Bernama
Read more: Analysts bullish on Public Bank http://www.btimes.com.my/Current_News/BTIMES/articles/20110419125044/Article/index_html#ixzz1JyjQQruv
Wednesday 30 March 2011
Dividends Track Record of Public Bank Berhad
Company | Particulars | Date announced | Ex-Date | To those registered by | To be paid on | Total for yr so far | Total for prev y |
2nd Int Franked25¢+Single Tier8¢ | 25-Jan-11 | 10-Feb-11 | 14-Feb-11 | 23-Feb-11 | 58¢ | 55¢ | |
First Interim 25¢ | 20-Jul-10 | 03-Aug-10 | 05-Aug-10 | 13-Aug-10 | 25¢ | 55¢ | |
Second Interim 25¢ | 20-Jan-10 | 03-Feb-10 | 05-Feb-10 | 13-Feb-10 | 55¢ | 55¢ | |
Interim 30¢ | 20-Jul-09 | 03-Aug-09 | 05-Aug-09 | 13-Aug-09 | 30¢ | 55¢ | |
Final 25 | 20-Jan-09 | 26-Feb-09 | 02-Mar-09 | 11-Mar-09 | 55¢ | 75¢ | |
Interim 30¢ | 17-Jul-08 | 01-Aug-08 | 05-Aug-08 | 13-Aug-08 | 30¢ | 75¢ | |
Final 40¢ + Special 10¢ | 21-Jan-08 | 27-Feb-08 | 29-Feb-08 | 10-Mar-08 | 75¢ | 60¢ | |
Interim 25¢ | 17-Jul-07 | 01-Aug-07 | 03-Aug-07 | 13-Aug-07 | 25¢ | 60¢ | |
Final 30¢ + Special 10¢ | 30-Jan-07 | 16-Mar-07 | 20-Mar-07 | 28-Mar-07 | 60¢ | 55¢ | |
Interim 20¢ | 30-Aug-06 | 03-Oct-06 | 05-Oct-06 | 16-Oct-06 | 20¢ | 55¢ | |
Final 20¢ + Special 15¢ | 07-Feb-06 | 21-Mar-06 | 23-Mar-06 | 31-Mar-06 | 55¢ | 90¢ | |
Interim 20¢ | 21-Jul-05 | 08-Aug-05 | 10-Aug-05 | 18-Aug-05 | 20¢ | 90¢ | |
Final 35¢ + Special 15¢ | 07-Feb-05 | 01-Apr-05 | 05-Apr-05 | 12-Apr-05 | 90¢ | 22¢ | |
Special 40¢ | 25-Oct-04 | 17-Dec-04 | 21-Dec-04 | 30-Dec-04 | 40¢ | 22¢ | |
Final 22% | 27-Mar-04 | 21-Apr-04 | 23-Apr-04 | 10-May-04 | 22% | 18% |
Tuesday 15 March 2011
Public Bank’s Teh celebrates birthday with promise of nice dividend present
Tuesday March 15, 2011
By JAGDEV SINGH SIDHU
jagdev@thestar,com.my
KUALA LUMPUR: Shareholders gave a lot of applause and sang “Happy Birthday” to Public Bank chairman Tan Sri Teh Hong Piow at the group's AGM yesterday where he set a medium-term target of achieving a net return on equity (ROE) of above 26% and an impaired loan ratio of below 1% as he believes the banking sector in Malaysia would be able to maintain its profitability despite uncertainty in the global markets.
Teh, in his address to shareholders at the bank's 45th AGM yesterday, said its joint venture with ING to provide family takaful business would add to the group's fee-based income once operations start in the first half of this year and the group would open four new branches in Vietnam and one in Laos this year.
Chief operating officer Leong Kwok Nyem said Public Bank could maintain a dividend payout ratio of 50% in the medium term.
“Barring unforeseen circumstances, the Public Bank group is expected to maintain its earnings momentum and continue to record satisfactory performance in 2011,” said Teh.
Tan Sri Teh Hong Piow waving to the shareholders at Public Bank’s AGM yesterdayIn recapping the group's financial performance last year, Teh highlighted the strong growth in profit where the group broke the RM3bil net profit mark to register a bottomline of RM3.05bil in 2010. The bank's ROE at the end of last year was 27.1% and its impaired loans ratio was 1.1%.
Loans growth was strong and above industry average, as its been for years, and Teh said the bank's share of the domestic lending business had grown to 16.3% from 15.9% in 2009.
He said domestic customer deposits grew by 15% compared with the industry average of 6.7% and pointed to the growing market share of itsmutual fund business which now manages RM40.6bil of assets under management at the end of last year.
The AGM proved to be a warm affair for Teh and his board of directors who received thunderous applause from grateful shareholders.
Teh, whose birthday was on the same day as the AGM, was also greeted by a hall packed of shareholders singing “Happy Birthday” to the founder of the Public Bank group after it was revealed his birthday fell on the same day as the annual shareholders meet.
The questions posed by shareholders, who were generally appreciative of the performance of the banking group and the dividends declared over the years, contained the usual perusal of the company's accounts but a number of comments latched onto a suggestion by the Minority Shareholder Watchdog Group (MSWG) which wondered if more women could be appointed to the board.
The MSWG also raised the issue of long-serving tenure of independent directors on the board, which Tan Sri Thong Yaw Hong, the non-executive co-chairman of Public Bank replied that since Public Bank was regulated by Bank Negara, independent directors had to fulfil their responsibilities in accordance with the central bank's guidelines while displaying their independence at the same time.
One investor who claims to be from Singapore said her investment in Public Bank was the best she had made as the other global banks she had invested in offered little or no dividends.
Public Bank said shareholders received a total return of RM17,000 from the appreciation of the market value of the bank's stock and gross dividends declared over the past five year, a return of 160% or 24% per annum over the initial RM6,550 to buy 1,000 shares at the start of 2006.
Monday 14 March 2011
Public Bank says 50% dividend payout policy remains
Public Bank says 50% dividend payout policy remains
Written by Chua Sue-Ann of theedgemalaysia.com
Monday, 14 March 2011 15:18
KUALA LUMPUR: PUBLIC BANK BHD [] has assured shareholders that it was in the position to maintain its 50% dividend payout policy in the medium term despite the impending Basel III requirements.
Public Bank chief operating officer Leong Kwok Nyem on Monday, March 14 told shareholders that Public Bank aimed to balance between the need to meet regulatory capital requirements and the needs to optimise returns to shareholders.
"The group's strong earnings generation capabilities will help the group to have the capital to support its strong organic growth strategy and to maintain its dividend payout ratio," Leong said, in response to questions from shareholders at Public Bank's annual general meeting today.
Public Bank recently announced its fourth quarter ended Dec 31, 2010 (4QFY10) results which saw net profit grow 24.85% to RM846.19 million from RM678.23 million a year ago, driven by higher interest income, fee-based earnings and smaller provision for bad loans.
This was on the back of a 18.8% revenue increase to RM2.97 billion from RM2.5 billion a year ago.
For the 12 months, Public Bank's net profit rose 21% to RM3.05 billion from RM2.52 billion a year ago while revenue rose 13.6% to RM11.04 billion from RM9.72 billion.
For its 4QFY10, Public Bank declared a cash dividend of 33 sen per share, comprising a franked dividend of 25 sen less income tax and a single-tier dividend of eight sen per share.
Public Bank's total gross dividend payout for FY10 was 58 sen per share.
To a shareholder's question about a rights issue, Leong said Public Bank had the capital to support its strong organic growth strategies without having to return to shareholders in a rights issue exercise.
Leong added that Public Bank's capital ratio were healthy, at 10% for its Tier 1 Capital ratio, 13.7% risk weighted capital ratio and 7.2% core equity capital.
Asked about overseas expansion plans, Public Bank co-chairman Tan Sri Thong Yaw Hong assured shareholders that the bank's board and management was always alert about opportunities and mindful of its challenges.
One shareholder had voiced concern that Public Bank had been less aggressive than its competitors in overseas expansions.
Meanwhile, in a statement Public Bank said it plans to add six branches to its existing 21 branches in Cambodia, four new branches in Vietnam and one new branch in Laos this year.
Overseas, Public Bank currently has 81 branches in Hong Kong, three in Shenzen, China, seven in Vietnam, three in Laos and one in Sri Lanka.
Written by Chua Sue-Ann of theedgemalaysia.com
Monday, 14 March 2011 15:18
KUALA LUMPUR: PUBLIC BANK BHD [] has assured shareholders that it was in the position to maintain its 50% dividend payout policy in the medium term despite the impending Basel III requirements.
Public Bank chief operating officer Leong Kwok Nyem on Monday, March 14 told shareholders that Public Bank aimed to balance between the need to meet regulatory capital requirements and the needs to optimise returns to shareholders.
"The group's strong earnings generation capabilities will help the group to have the capital to support its strong organic growth strategy and to maintain its dividend payout ratio," Leong said, in response to questions from shareholders at Public Bank's annual general meeting today.
Public Bank recently announced its fourth quarter ended Dec 31, 2010 (4QFY10) results which saw net profit grow 24.85% to RM846.19 million from RM678.23 million a year ago, driven by higher interest income, fee-based earnings and smaller provision for bad loans.
This was on the back of a 18.8% revenue increase to RM2.97 billion from RM2.5 billion a year ago.
For the 12 months, Public Bank's net profit rose 21% to RM3.05 billion from RM2.52 billion a year ago while revenue rose 13.6% to RM11.04 billion from RM9.72 billion.
For its 4QFY10, Public Bank declared a cash dividend of 33 sen per share, comprising a franked dividend of 25 sen less income tax and a single-tier dividend of eight sen per share.
Public Bank's total gross dividend payout for FY10 was 58 sen per share.
To a shareholder's question about a rights issue, Leong said Public Bank had the capital to support its strong organic growth strategies without having to return to shareholders in a rights issue exercise.
Leong added that Public Bank's capital ratio were healthy, at 10% for its Tier 1 Capital ratio, 13.7% risk weighted capital ratio and 7.2% core equity capital.
Asked about overseas expansion plans, Public Bank co-chairman Tan Sri Thong Yaw Hong assured shareholders that the bank's board and management was always alert about opportunities and mindful of its challenges.
One shareholder had voiced concern that Public Bank had been less aggressive than its competitors in overseas expansions.
Meanwhile, in a statement Public Bank said it plans to add six branches to its existing 21 branches in Cambodia, four new branches in Vietnam and one new branch in Laos this year.
Overseas, Public Bank currently has 81 branches in Hong Kong, three in Shenzen, China, seven in Vietnam, three in Laos and one in Sri Lanka.
Tuesday 8 February 2011
Public Bank still ahead of the pack
Public Bank still ahead of the pack
Written by Financial Daily
Monday, 07 February 2011 11:39
Written by Financial Daily
Monday, 07 February 2011 11:39
Public Bank Bhd
(Feb 2, RM13.44)
Maintain buy at RM13.65 with target price RM14.20: Public Bank reported an FY10 earnings growth of 24.7% year-on-year (y-o-y) and a 4QFY10 quarter-on-quarter (q-o-q) growth of 8%, the highest sequential growth in FY10, further cementing the group’s share of domestic market leading loans, core customer deposits and private unit trust at 16.2%, 16% and 43.3% respectively.
The group’s FY10 results were spot on with our full-year estimates but slightly ahead of consensus, representing 99.6% and 104.8% of our and consensus full-year forecast respectively. The results are commendable as the group continued to register above industry growth rates, which translate into a one percentage point improvement in return on equity (ROE) to a record 27.1% despite the competitive domestic banking landscape, which has put immense pressure on industry wide retail lending yields and upward pressure on deposit rates in general.
Growth was broad based across all key operating lines. Net interest income jumped 13.9% y-o-y on a relatively robust loans growth of 13.8%, which was more than sufficient to offset the slight 10 basis points contraction in net interest margins. Non-interest income expanded by 18.7% on: i) higher unit trust management fees (up 29.7% y-o-y) due to expansion in assets under management, ii) a 45.7% surge in forex income, and iii) a 18.1% increase in transactional fee income. Meanwhile, profit before tax from its overseas operations expanded by 30% largely on the back of lower credit costs on improving non-performing loans. Asset quality remained solid, with gross impaired loans ratio declining to 1.1% from 1.4% while coverage ratios hit 142%.
We have raised our FY11 and FY12 earnings by 2.9% and 3.7% respectively, taking into account the stronger fee-based income growth from its bancassuarce business. Consequently, our ROE is raised marginally to 26.3% from 26% and our target price from RM14.20 to RM14.40. Maintain buy. — OSK Investment Research, Feb 2
This article appeared in The Edge Financial Daily, February 7, 2011.
(Feb 2, RM13.44)
Maintain buy at RM13.65 with target price RM14.20: Public Bank reported an FY10 earnings growth of 24.7% year-on-year (y-o-y) and a 4QFY10 quarter-on-quarter (q-o-q) growth of 8%, the highest sequential growth in FY10, further cementing the group’s share of domestic market leading loans, core customer deposits and private unit trust at 16.2%, 16% and 43.3% respectively.
The group’s FY10 results were spot on with our full-year estimates but slightly ahead of consensus, representing 99.6% and 104.8% of our and consensus full-year forecast respectively. The results are commendable as the group continued to register above industry growth rates, which translate into a one percentage point improvement in return on equity (ROE) to a record 27.1% despite the competitive domestic banking landscape, which has put immense pressure on industry wide retail lending yields and upward pressure on deposit rates in general.
Growth was broad based across all key operating lines. Net interest income jumped 13.9% y-o-y on a relatively robust loans growth of 13.8%, which was more than sufficient to offset the slight 10 basis points contraction in net interest margins. Non-interest income expanded by 18.7% on: i) higher unit trust management fees (up 29.7% y-o-y) due to expansion in assets under management, ii) a 45.7% surge in forex income, and iii) a 18.1% increase in transactional fee income. Meanwhile, profit before tax from its overseas operations expanded by 30% largely on the back of lower credit costs on improving non-performing loans. Asset quality remained solid, with gross impaired loans ratio declining to 1.1% from 1.4% while coverage ratios hit 142%.
We have raised our FY11 and FY12 earnings by 2.9% and 3.7% respectively, taking into account the stronger fee-based income growth from its bancassuarce business. Consequently, our ROE is raised marginally to 26.3% from 26% and our target price from RM14.20 to RM14.40. Maintain buy. — OSK Investment Research, Feb 2
This article appeared in The Edge Financial Daily, February 7, 2011.
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