Public Financial returns to profit with $2.6m net gain in H1

The recovery was led by higher net interest income which rose to $530.5m, a 13% increase from $470.7m in 2024. 

Public Financial Holdings Limited has returned to profit in the first half of 2025, posting a net gain of $2.6m after recording a $34.5m loss in the same period last year.

The recovery was led by higher net interest income which rose to $530.5m, a 13% increase from $470.7m in 2024. Fee and commission income also grew substantially, reaching $138.8m compared to $105.9m a year earlier.

Meanwhile, total operating income climbed to $685.2m, up from $593.9m.

Credit loss expenses remained elevated at $155.9m, though slightly improved from the $164.3m charge last year. Stage 3 impairments (credit-impaired assets) were the main driver of these losses.

The group also took a hit from a $46.2m loss in the fair value of investment properties, impacting performance in its “other businesses” segment, which includes taxi leasing and property letting.

Retail and commercial banking remained the group’s primary revenue engine, whilst the wealth management segment delivered notable growth, more than doubling its commission income YoY.

The balance sheet remained stable, with total assets rising to $43.6b and equity attributable to shareholders increasing to $7.74b. Customer deposits grew to $33.2b. Impaired loans rose to $789.4m, with impairment allowances also increasing to $398.6m.

Public Financial Holdings declared an interim dividend of $0.02 per share, its first such payout in over a year.