Neutral impact on Public Bank from HK unit performance

Quick Summary:

The anticipated losses and goodwill impairment of Public Bank Bhd’s (PBB) Hong Kong-listed subsidiary, Public Financial Holdings Ltd (PFH), is expected to have a neutral impact on the banking group.

Excluding this, PFH expects to report a loss of about HK$190mil for FY24, noted RHB Research in a report.

On Dec 23, 2024, PFH issued a profit warning and is expected to incur a net loss of HK$800mil to HK$1.1bil for financial year 2024 (FY24).

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Article Details

Category: EconomyBusiness

Markets: MalaysiaHong Kong

Topics: /Business/Business News Corporate News HongKong GoodwillImpairment PBB PFH LoanImpairment

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-27 @ 00:00:00 (20 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 441 words

Reading Time: 3 minutes read

Sentences: 16 lines

Sentence Length: 28 words per sentence (average)

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Copyright Owner: © The Star

News ID: 24680026

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