Malaysia's Public Bank Q1 net profit up 21 pc to 828mn ringgit

KUALA LUMPUR: Malaysia's third largest lender Public Bank reported on Monday a 21 percent rise in first quarter net profit to 827.7 million ringgit ($273.800) from a year ago on higher contributions from its loans business.

Gross loans grew 13.5 percent on year to 161.6 billion ringgit mainly due to property and vehicle financing, and loans to small and medium sized enterprises.

Public Bank did not declare a dividend for the period.