Public Bank / Teh Hong Piow

[winston]

vested

To acquire 44.15% of LPI

BUY maintained Public Bank’s proposed acquisition of a 44.15% stake in LPI Capital (LPI) for MYR1.72b is mildly positive to the group, in our view, with a marginal 1.4% enhancement in FY25E earnings and a slight uplift in ROEs.

Positively, capital ratios would still be comfortable, post the acquisition.

Our forecasts are maintained, as is our BUY on Public Bank, with an unchanged TP of MYR5.40 (FY25E PBV of 1.7x; ROE: 12.7%).

Source: Maybank

https://mkefactsettd.maybank-ke.com/PDFS/410126.pdf

[behappyalways]

It entered the top ten decliners list after the resumption of trading

复牌就进入十大下跌榜 大众伦平双双大跌 | 新闻报报看 11/10/2024

https://m.youtube.com/watch?v=0W0xWRWpeSs

[winston]

vested

Public Bank 2Q net profit slips, declares 10.5 sen dividend

By Syafiqah Salim

KUALA LUMPUR (Aug 26): Public Bank Bhd (KL:PBBANK), Malaysia’s third-largest bank by assets, said on Tuesday its net profit slipped in the second quarter from a year earlier, dragged by lower non-taxable income.

Net profit for the three months ended June 30, 2025 (2QFY2025) was RM1.76 billion, a 1% decline when compared to RM1.78 billion recorded for the same period last year.

Year-on-year, net interest income rose 5.1% while non-interest income climbed 15% during the quarter.

The bank declared a first interim dividend of 10.5 sen per share, payable on Sept 24. The entitlement date is Sept 12.

For the first half of FY2025, Public Bank’s net profit rose 2.05% to RM3.51 billion from RM3.44 a year earlier as net interest income grew by 4.1% year-on-year while non-interest income grew 17.5%.

Non-interest and non-financing income growth was further complemented by the newly acquired general insurance business undertaken by LPI Capital Bhd (KL:LPI).

As at end-June, the bank’s asset quality remained stable with the gross impaired loans ratio standing at 0.5% and credit costs at three basis points, well below the banking industry’s average.

Loan loss coverage stood at a prudent level of 153.9%, exceeding the 90.5% industry average.

Public Bank’s common equity Tier 1 capital — a measure of a bank’s capital strength based on the highest quality of regulatory capital — stood at 14%.

Source: theedgemalaysia.com

https://theedgemalaysia.com/node/768119

[winston]

vested

Public Bank (PBK MK) 2Q25: Growth Holds Firm Amid Higher Costs

Public Bank’s 2Q25 earnings came in marginally below expectations due to one-off legal costs.

Nonetheless, PPOP rose a commendable 7% yoy in 1H25.

We maintain our BUY rating and target price of RM5.25 (1.66x 2026F P/B, 12.6% ROE).

With its valuation near pandemic lows (-1.5SD below mean) and the sector’s strongest provision buffers, the bank remains well-positioned to weather macro headwinds.

Source: UOBKH

https://research.uobkayhian.com/content ... e=hs_email

[winston]

vested

Public Bank profit slips in 3Q on lower interest-based income after OPR cut

Net profit for the third quarter ended Sept 30, 2025 slipped 3.65% year-on-year on lower interest-based income.

Net profit fell to RM1.84 billion from RM1.91 billion a year earlier, after the 25-basis-point cut in the overnight policy rate (OPR) during the quarter.

Earnings per share eased to 9.54 sen from 9.85 sen in the same quarter last year.

No dividends were declared for the quarter.

Quarterly revenue rose 8.96% to RM7.42 billion from RM6.81 billion a year ago.

The group’s gross impaired loans ratio remained steady at 0.52%. Loan loss coverage was sustained at a prudent level of 154.8%.

Source: theedgemalaysia.com

https://theedgemalaysia.com/node/780739

[winston]

vested

1295 PBBANK (BUY)
Steady sequential growth

Public Bank’s 3Q25 net profit rose 4.7% QoQ, in tandem with stronger total income and lower loan loss provision.

Loan growth remained firm and asset quality well-guarded, with the GIL ratio holding steady.

However, sequential NIM compression weighed on profitability.

Given the results were broadly within expectations, our earnings estimates were kept.

Subsequently, we continue to see an upside-skewed risk-reward profile, underpinned by potential provision write-backs and historically low foreign shareholding levels (current: 23% vs Mar-11 low of 24% and Mar-18 high of 40%).

Maintain BUY call with GGM-TP of RM5.10, based on 1.46x FY26 P/B.

Source: HLIB