KUALA LUMPUR: Public Bank Group posted RM3.04 billion in net profit in the first nine months of the year ending December 2013, a 6.8 per cent rise from RM2.85 billion in the same period last year.
Revenue rose to RM11.35 billion from RM10.43 billion previously.
Founder and chairman Tan Sri Dr Teh Hong Piow, in a statement yesterday, said the group recorded healthy growth in both loans and deposits at 12 per cent and 13.2 per cent, respectively.
Public Bank's loan growth outpaced the industry's annualised loan growth rate of 9.8 per cent.
On its outlook for the rest of the year, Teh said that the group will maintain its earnings momentum.
As at September 2013, Public Bank's retail loan portfolio accounted for 86 per cent of its total loans.
Its focus remains with extension of credit mainly to small- and medium-sized enterprises (SMEs), financing of residential properties and purchase of passenger vehicles.
Public Bank is the leader in residential mortgages, commercial property financing and passenger vehicles financing with market shares of 19.6 per cent, 33.8 per cent and 26.4 per cent, respectively.
The group's lending to SMEs also recorded commendable growth with a 19.8 per cent rise from a year ago.
"With good growth in loans and deposits, coupled with stringent credit control and prudent cost management, we continue to be at the forefront among our peers.
Public Bank's liquidity remained stable, supported by strong deposits from over five million customers.
This large base has grown 13.2 per cent from a year ago. Again, the group outperformed industry's average of 8.1 per cent.
The strong domestic deposit growth was mainly attributed to the steady inflows of fixed deposits, low cost-savings and current accounts, which grew by an annualised rate of 16.2 per cent, 8.7 per cent and 15.2 per cent, respectively.