Net interest and non-interest income both increased, with China Bank earning over 1.9 billion in Q3.

Meanwhile, China Bank's third-quarter revenue increased by 5.07% year-on-year to 6.8 billion and 9.01 million ringgit.

In the first 9 months of the current fiscal year, Public Bank recorded a net profit of 5.3 billion 47.55 million ringgit, a 6.23% year-on-year increase, while revenue increased by 7.56% year-on-year to 20.2 billion 94.21 million ringgit.

In the third quarter, Public Bank's net interest income was 2.4 billion 6.32 million ringgit, a 5.29% year-on-year increase, while non-interest net fees and commission income also increased by 14.06% year-on-year to 0.5 billion 72.62 million ringgit.

Public Bank's Director and Chief Executive Officer, Tan Sri Tay Ah Lek, stated in a press release that the bank has achieved commendable performance in the first 9 months of this year, with the main drivers coming from stable loan and deposit growth, and the stabilization of Net Interest Margin (NIM).

"The increase in non-interest income, coupled with lower credit costs, further propelled our performance."

In the first 8 months, Public Bank's overall loans expanded by 5.2% to 414.5 billion ringgit, with domestic market loans rising by 6.2% to 390.1 billion ringgit, surpassing the country's banking industry's average growth rate of 4.5%.

Public Bank pointed out that its domestic loan growth momentum comes from mortgages, car loans, and small and medium enterprise (SME) loans, increasing by 5.4%, 14.4%, and 3.5% respectively, with market shares of 20.2%, 31.7%, and 17.3%.

Its total customer deposits also increased by 3.9% to 425.1 billion ringgit, with domestic customer deposits rising by 4.7% to 398.5 billion ringgit.

"Our liquidity position remains healthy, with total loans to financing and securities ratio at 83% as of the end of September."

Public Bank did not disclose its net interest margin or the actual numbers for the current account and savings account (CASA) ratio.

In terms of asset quality, the bank has shown stability, with a gross impaired loans (GIL) ratio remaining steady at 0.6%, and a loan loss coverage ratio as high as 153.6%.

Looking ahead, CEO Tay Ah Lek pointed out that with improving economic prospects, Public Bank continues to see opportunities for growth in the banking industry.

An unnamed small shareholder disclosed relevant details to the media after attending the aforementioned online shareholder meeting.

In addition, Zheng Yali also stated that People's Bank would be open to any new merger opportunities, but currently has no other targets and is not interested in acquiring any life insurance companies.

People's Bank held a special shareholders' meeting yesterday to seek approval for the aforementioned Lunping acquisition.

Ultimately, the relevant resolution was strongly approved with 99.55% of the affirmative votes.

Subsequently, People's Bank will offer 9.80 ringgit per share to purchase the remaining stake of Lunping from other shareholders.