KUALA LUMPUR (March 27): Public Bank Bhd, the country's second-largest lender, expects further margin compression based on industry trends and increased competition, which could put pressure on its return on equity (ROE). Intense competition will continue and that will affect the ROE, moving forward," Public Bank managing director Tan Sri Tay Ah Lek told reporters after the group's annual general meeting today. For 2017, Public Bank is targetting to achieve net ROE of 14% to 15%, according to its annual report 2016. Meanwhile, Tay said it is the group's target to maintain healthy asset quality and maintain the gross impairment loan ratio below 0.5%. At 2.05pm, Public Bank shares were traded unchanged at RM19.96, for a market capitalisation of RM77 billion.

Source: The Edge Markets March 27, 2017 06:56 UTC