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Best bank: Public bank Best investment bank: CIMB Group |
Public Bank is Malaysia’s largest bank by market capitalization and, by some distance, the country’s best-performing lender. It offers excellent financial ratios, the steadiest yields in the country and, most pertinently in these turbulent times, a steady institution focused on maintaining growth while minimizing risk.
The lender posted a 23% year-on-year rise in net profit in 2007, to M$2.1 billion ($640 million), on the back of higher operating income and net interest and financing income, coupled with lower loan-loss provisions. Earnings per share rose to 63.3 sen from 52.1. Non-performing loans fell to 1.2% from 1.6% a year earlier, and are expected to dip below 1% by the end of 2008. This year has also started brightly, with Public Bank posting earnings of M$717 million in the first quarter, up from M$476 million in the same period a year ago.