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Private Retirement Schemes Online FPX Signing Ceremony Between Public Bank Berhad and Private Pension Administrator Malaysia

For Immediate Release

11 November 2016

Private Retirement Schemes Online FPX Signing Ceremony Between Public Bank Berhad and Private Pension Administrator Malaysia
 
Public Bank Berhad (PBB) and Private Pension Administrator Malaysia (PPA) had officially signed the Private Retirement Schemes (PRS) Online FPX Service Agreement held at Menara Public Bank, Kuala Lumpur on 11 November 2016.
 
The service agreement was inked by YBhg. Tan Sri Dato’ Sri Tay Ah Lek, Managing Director of PBB, and YBhg. Datuk Zaiton Binti Mohd Hassan, Chairman of PPA.  Also present to witness the event were YBhg. Dato’ Chang Kat Kiam, Deputy Chief Executive Officer of PBB, En. Husaini Hussin, Chief Executive Officer of PPA, YBhg. Datuk Nozirah Binti Bahari and Mr. Ou Shian Waei, the Board of Directors of PPA, Puan Azryta Abdul Aziz, General Manager of Securities Commission as well as the Senior Management of PBB.
 
PPA is the central administrator for the PRS which was established in July 2012.  PPA is a body approved by the Securities Commission Malaysia to oversee and promote the growth of the industry, create general awareness and educating the public on PRS as well as protecting members’ interests.

PRS Online is a new online service offered by PPA, providing PRS Members an easy, convenient and secure way to make additional PRS contributions into their existing PRS funds directly via their smartphones, tablets or computers with a few simple steps.  The PRS Online is built to be mobile friendly and supported by robust e-banking infrastructure through the Financial Process Exchange (FPX) payment gateway, this online infrastructure is developed, operated and maintained by PPA.
 
The Private Retirement Scheme (PRS) is a voluntary long-term contribution scheme introduced in 2012 which is designed to help individuals accumulate savings for retirement.  The scheme is open to all individuals aged 18 and above, including foreigners, be it employed or self-employed as a supplement to their retirement savings.
 
The agreement between these two parties would see PBB acting as the sole facilitator to PRS Members in performing PRS contribution via PRS Online.
 
PBB is committed to support Malaysia’s transformation to e-payments and will continue to launch more new initiatives to promote e-payments.  The Bank has organised extensive nationwide e-Payments Forums to promote the Bank’s comprehensive online cash management and e-banking services to improve the overall efficiency of the payment system.
 
Public Bank offers a suite of online cash management services comprises of Public Bank Electronic Credit Payment, Direct Debit, Bill Payment, Payment Agent, JomPAY Service as well as collection service via self-service terminals.

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(From left) Public Bank’s Deputy Chief Executive Officer, YBhg. Dato’ Chang Kat Kiam, Managing Director, YBhg. Tan Sri Dato' Sri Tay Ah Lek, PPA's Chairman, YBhg. Datuk Zaiton Binti Mohd Hassan and Chief Executive Officer, En. Husaini bin Hussin at the Private Retirement Scheme Online signing ceremony in Menara  Public Bank, Kuala Lumpur.

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Comments on The Budget 2017

Note To Editors:
This press release is issued by
Tan Sri Dato' Sri Dr. Teh Hong Piow
Founder and Chairman of Public Bank

21 October 2016

Comments On The Budget 2017

We view positively the government’s commitment to address the nation’s fiscal challenges.  Budget 2017 affirms the ongoing fiscal reforms.  Prudent fiscal spending together with an expected increase in government revenue enables further reduction in budget deficit to 3.0% of GDP in 2017.  Thus, Malaysia should remain on track to achieve a near balanced budget as the economy progresses into a high-income nation by 2020. 
 
We are delighted to note the continued pro-business measures in stimulating private investments in major infrastructure projects and economic corridors.  The introduction of the new scheme of income tax for companies would help to lower the cost of business and stimulate further growth of businesses including the small and medium enterprises.
 
We welcome the government’s wide-ranging and targeted measures to enhance the well-being of the rakyat, particularly the lower income group.  Budget 2017 reflects significant strategies and initiatives to address the need of the rakyat.  We note that new sources of prosperity lie in the ingenuity to mine existing resources which uncover economic opportunities and elevate the growth potential of the Malaysian economy.  Particularly, raising productivity and innovation, and enhancing human capital, are essential for a sustainable economic growth ahead.    
 
Public Bank applauds the Honourable Prime Minister and Minister of Finance for formulating Budget 2017 - Ensuring Unity and Economic Growth, Inclusive Prudent Spending, Wellbeing of the Rakyat.  While acknowledging that current economic condition remains challenging amid global uncertainties, Malaysia continues to evolve driven by transformation from a commodity-exporting nation to a modern diversified economy.

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Y.Bhg. Tan Sri Dato' Sri Dr. Teh Hong Piow
Founder and Chairman of Public Bank

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Public Bank Group Achieved Pre-Tax Profit of RM4.8 Billion For The First Nine Months of 2016

For Immediate Release

20 October 2016

Public Bank Group Achieved Pre-Tax Profit of RM4.8 Billion For The First Nine Months of 2016

Chairman’s Review
The Public Bank Group announced today another favourable set of financial results for the first nine months of 2016. As compared to the previous corresponding period, the Group’s net profit attributable to shareholders increased by 4.3% to RM3.72 billion for the first nine months of 2016, leading to a net return on equity of 15.8% for the period. Pre-tax profit grew by 2.8% to RM4.76 billion over the same period.
 
The Founder and Chairman of Public Bank, Tan Sri Dato’ Sri Dr. Teh Hong Piow said, “The Group has demonstrated the ability to generate stable profitability when the operating environment continued to present challenges to the business.  This was attributed to the Group’s solid strategy in strengthening its niches in the retail banking business.”
 
During the first nine months of 2016, the Public Bank Group’s total operating revenue grew by 5.4%, mainly attributed to the Group’s continued healthy loan and deposit growth at annualised rates of 7.2% and 7.4% respectively. Against the challenging operating environment, the Group also showed resilience through its efficient cost-to-income ratio of 32.5%, and low gross impaired loan ratio of 0.5%.

Continued Healthy Loan and Deposit Growth Despite Challenging Market Environment
For the first nine months of 2016, the Public Bank Group’s total loans grew at an annualised rate of 7.2% to RM288 billion. Domestically, the Group continued to achieve above industry loan performance, with its domestic loan growth standing at an annualised rate of 7.8% compared to the domestic banking industry’s growth of 2.8%. The Group’s lending activities continued to be driven by the extension of credit mainly for the purchase of residential properties and passenger vehicles, as well as to the small and medium enterprises.
 
On deposit-taking, the Public Bank Group achieved an annualised 7.4% growth in total deposits for the first nine months of 2016. Having established a vast network in Malaysia, the Group competed well in growing its deposit business. This is clearly reflected in its steady growth in domestic deposits of 7.5% despite a marginal contraction observed in the overall banking sector deposits during the period.
 
Tan Sri Teh added that, “Against the backdrop of weak consumer and business sentiment, the Group’s loans and deposits business has fared well. As a result, the Group continued to maintain a healthy loan-to-deposit ratio of 90.2% as at end-September 2016.”
 
Fee-based Income
Tan Sri Teh said, “Growing fee-based revenue has remained the Public Bank Group’s key strategic focus. Our network advantage has put the Group in a favourable position to grow fee-based revenue. For the first nine months of 2016, the Group’s transactional banking and unit trust management business remained positive, contributing two-thirds of the Group’s total non-interest income.”
 
Public Mutual Berhad (“Public Mutual”), the Public Bank Group’s wholly-owned unit trust fund management subsidiary, remains a major contributor to the Group’s fee-based revenue. Public Mutual remained as the market leader in the private unit trust business with a strong domestic market share of 49.5% of the retail unit trust industry. As at the end of September 2016, Public Mutual has 133 funds and a total net asset value of RM70.1 billion under its management.
 
Efficient Cost Management
The Public Bank Group being the most cost-efficient banking group in Malaysia, has continued to maintain a low cost-to-income ratio of 32.5% during the period, significantly better than the industry’s cost-to-income ratio of 48.8%.
 
Tan Sri Teh commented, “The Public Bank Group’s extensive effort to pursue revenue growth during the period of uncertainty and rising operating costs has remained a key factor underlying the Group’s continued profitability.”
 
Strong Asset Quality
The Public Bank Group continued to uphold its strong asset quality record, with the lowest gross impaired loan ratio of 0.5% as at the end of September 2016, when compared to the banking industry’s gross impaired loan ratio of 1.7%.
 
Tan Sri Teh said, “Asset quality nonetheless is a concern to banks in times of challenges and uncertainties. However, the Public Bank Group is able to preserve its strong asset quality through its prudent lending policies, strong risk management practices and extensive recovery efforts.”
 
In addition, the Public Bank Group’s loan loss coverage ratio is also one of the highest in the banking industry, standing at 109.5% as at end-September, as compared to the banking industry’s ratio of 89.6%.
 
Overseas Operations
For the first nine months of 2016, the Public Bank Group’s overseas operations contributed 9.4% to the Group’s overall pre-tax profit. Public Financial Holdings Limited Group in Hong Kong and Cambodian Public Bank Plc, both subsidiaries of Public Bank, continued to be the main contributors to the Group’s overseas business growth.
 
Tan Sri Teh added that, “Despite the setbacks in the regional economy, the Public Bank Group will continue to build capabilities in its overseas business and envisages further growth avenue in the long term.”

Healthy Capital Position
The Public Bank Group’s capital position remained stable, with its common equity Tier 1 capital ratio, Tier 1 capital ratio and total capital ratio standing at 11.0%, 11.9% and 15.2% respectively as at end-September 2016. Tan Sri Teh highlighted that “Maintaining adequate capital cushions are essential to the perpetual sustainability of the Group’s business.”
 
Group’s Prospect
The global economy continues to face immense challenges as growth has remained subdued despite various stimulus measures and policies taken by major central banks. Headwinds emanating from Brexit implication, policy shifts in major economies and geopolitical issues will continue to weigh on the outlook. For the Malaysian economy, while headwinds continue to pose downside pressure to growth, expectations are for a healthy expansion given the support from domestic demand.
 
Tan Sri Teh commented, “The Public Bank Group’s stable performance for the first nine months of 2016 has reaffirmed the proven business strategies of the Group in withstanding challenges in the operating environment. The Group sees prudent risk management, sound corporate governance and sustaining superior asset quality continue to be the keys to maintaining trust and confidence among stakeholders and in ensuring long term sustainability of the Group’s profitability.”

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Y.Bhg. Tan Sri Dato' Sri Dr. Teh Hong Piow
Founder and Chairman of Public Bank


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Public Bank Launches Exhibition To Commemorate 50th Anniversary

For Immediate Release

27 September 2016

Public Bank Launches Exhibition To Commemorate 50th Anniversary

Founder and Chairman of Public Bank, Tan Sri Dato’ Sri Dr. Teh Hong Piow officially launched the Public Bank 50th Anniversary Exhibition on 27 September 2016 at the Grand Lobby of Menara Public Bank, Kuala Lumpur. The official launch was witnessed by the Board Of Directors and Senior Management staff of Public Bank.
 
This exhibition is part of Public Bank’s ongoing 50th Anniversary celebration. It showcases the Bank’s countless achievements and accomplishments for the past 50 years and the Bank’s rich history from the day it was established by Tan Sri Dato’ Sri Dr. Teh Hong Piow in 1966 till now.
 
The highlights of the exhibits include the display of over 300 Awards and Recognitions received by the Bank over the years, pictures of Corporate Social Responsibilities Programmme activites, award winning annual reports, numerous publications, the Bank’s newsletters, magazines cover story and Public Bank’s media highlights.
 
Tan Sri Teh in his official address said, “As Founder and Chairman, I am indeed proud of our journey of growth. Today, Public Bank is certainly the largest non-government link bank in Malaysia. It has the best quality asset and has expanded its network regionally to the Asia Pacific region.”
 
He continued, “This exhibition therefore seeks to depict the rich history and corporate excellence in Public Bank. The Bank has always practised a culture of excellence, prudence and integrity. This has resulted in the Bank receiving the many awards and accolades displayed here. The Bank has also played its part as a responsible corporate citizen. These initiatives have been captured for future generations. The exhibits today showcase our many celebrations of success.”
 
Tan Sri Tay Ah Lek, Managing Director of Public Bank in his speech said, “Any organisation which has made its mark would have a story worth telling.  In the case of Public Bank, our  50-year journey of success under the sterling leadership of our beloved Founder and Chairman, Tan Sri Dato' Sri Dr. Teh Hong Piow, is indeed a story that should be told for posterity. Public Bank’s successful journey spanning five decades is certainly a cause for celebration. The physical journey that the Bank traverses is a journey of determination, spirit and passion.”
 
He continued, “Bringing to life the vivid story of Public Bank under Tan Sri Chairman’s astute leadership, the exhibition will provide an interesting and meaningful glimpse of the whole make-up of Public Bank.  More importantly, it highlights the enduring spirit of pursuing excellence, the philanthropic spirit of giving back to society and sharing the fruits of prosperity.”
 
It is indeed a landmark occasion which certainly will leave a strong testament on the success of Public Bank for many years to come and which it is hoped will inspire the young generation to achieve their dream of success.
 
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Tan Sri Teh and the Board of Directors at the Bank’s 50th Anniversary Exhibition

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Public Bank Bestowed With '50 Years Of Asian Banking Excellence' Award From FinanceAsia On 50th Anniversary

For Immediate Release

8 August 2016

Public Bank Bestowed With ‘50 Years Of Asian Banking Excellence’
Award From FinanceAsia On 50th Anniversary
 
It was not only a celebration of the Golden Jubilee for Public Bank but it was also a celebration of accomplishments and success as the Bank proudly receives the ‘50 Years Of Asian Banking Excellence’ Award from FinanceAsia last Saturday, 6 August 2016 at the Bank’s 50th Anniversary Banquet held at The Mines International Exhibition And Convention Centre. The award was presented to Founder & Chairman, Tan Sri Dato’ Sri Dr. Teh Hong Piow in the presence of more than 3,000 guests comprising of staff of Public Bank Group.
 
Mr. Jonathan Hirst, Publisher of FinanceAsia in his citation speech expressed his admiration towards Public Bank. He said, “As I got to know Public Bank it struck me how special this financial institution had become. The financial performance and growth of the bank was and still is fantastic.”
 
He continued, “Whichever indicator you look at, the performance was great – loan growth, NPL rates, profits, net interest margin, share price and this was against a backdrop of choppy financial markets, skittish shareholders and mixed macro GDP growth in Malaysia.”
 
“Public Bank has pioneered the retail and SME banking space in Malaysia. Other state owned Malaysian banks may have concentrated on large corporate banking but Public Bank has lent money and help nurture thousands upon thousands of one man band companies that have now become major companies.”
 
According to him, “Many other banks want to expand too quickly, buy overseas banks, or sometimes take too much risk, but Public Bank concentrates on its core business and skills and has delivered 50 years of banking excellence in Asia.”
 
Managing Director, Tan Sri Dato’ Sri Tay Ah Lek in his acknowledgement speech said, “It is a privilege for me to acknowledge on behalf of Public Bank, the award for ‘50 Years of Asian Banking Excellence’ from FinanceAsia. Recognition from such a reputable publication is always an honour.  This is especially so, when FinanceAsia is well acclaimed for celebrating corporate and entrepreneurial achievements which contribute towards the fostering of business excellence. ”
 
He continued, “Tonight’s award is not only a sound recognition of Public Bank’s consistent achievements through the years, it is also a public acknowledgement of our Founder and Chairman, Tan Sri Dato’ Sri Dr. Teh Hong Piow. The award is made even more significant in light of Public Bank’s 50th anniversary celebration tonight.”
 
“With Tan Sri Chairman at the helm, Public Bank continues to be viewed as one of Malaysia's best run and most admired bank; contributing both to the economy and nation,” added Tan Sri Tay.
 
It is indeed a proud moment for all Public Bank staff to share in the joy of receiving such prestigious award that night as it would further spur staff to weather all challenges to surpass our current successes and bring the organisation to an even higher level of achievement. 

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Tan Sri Dato’ Sri Dr. Teh Hong Piow receiving the award from Mr. Jonathan Hirst

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Public Bank Group Achieved Pre-Tax Profit of RM3.20 Billion For The First Half Of 2016 and Declared 26 Sen First Interim Dividend

For Immediate Release

28 July 2016

Public Bank Group Achieved Pre-Tax Profit of RM3.20 Billion For The First Half Of 2016 and Declared 26 Sen First Interim Dividend

Chairman’s Review
 
The Founder and Chairman of Public Bank, Tan Sri Dato’ Sri Dr. Teh Hong Piow is pleased to announce the Public Bank Group’s financial results for the first half year ended 30 June 2016, “The Public Bank Group achieved a pre-tax profit of RM3.20 billion in the first half of 2016, an increase of 6.1% from RM3.02 billion in the corresponding period of 2015. Net profit attributable to shareholders amounted to RM2.49 billion, registering an increase of 5.0% from the same period last year. The improved profitability amid the increasing challenging operating environment shows that the Group’s proactive organic growth strategy with prudent banking practices has remained an edge in the competitive banking landscape.”
 
The Public Bank Group’s improved profit was largely driven by the Group’s continued healthy expansion in loan and deposit businesses, leading to an increase of 9.4% in net interest income. The Group’s domestic lending and deposit base have shown resilient performance despite the challenging operating environment, with domestic loans and deposits growing at healthy annualised rates of 8.3% and 7.4% respectively.
 
Tan Sri Teh added that, “The improved net profit performance translated into a net return-on-equity of 16.2%. Meanwhile, it also reflects the Public Bank Group’s disciplined cost management, as indicated in the Group’s cost-to-income ratio of 32.3%. The Group also continued to exhibit strong asset quality despite the moderating economic environment, with its gross impaired loan ratio remaining low and stable at 0.5%.”
 
“In view of the Public Bank Group’s commendable performance, I am pleased to announce that the Board of Directors has declared a first interim dividend of 26 sen, which will result in a total dividend payout of RM1.0 billion. The first interim dividend will be paid on 22 August 2016 based on the dividend entitlement date of 12 August 2016.” said Tan Sri Teh.
 
Healthy Loan and Deposit Growth

In the first half of 2016, the Public Bank Group’s total loans recorded an annualised growth rate of 7.3% to RM283.5 billion. Domestic loan grew stronger at an annualised rate of 8.3%, significantly higher than 2.2% annualised growth recorded by the banking industry during the period. The sustained growth performance in the Group’s loan business was mainly attributed to the continued expansion of its retail banking segment, comprising financing for the purchase of residential properties, passenger vehicles, and small and medium enterprises.
 
On the funding side, the Public Bank Group’s total customer deposits also grew at a healthy annualised rate of 6.9%. On the domestic front, the Group’s total customer deposits remained on positive momentum, registering a favourable 7.4% annualised growth, as compared to 0.1% growth in the domestic banking industry. 
 
Tan Sri Teh further added that, “The Group’s funding and liquidity position has remained healthy with its loan-to-deposit ratio standing at 90.5% as at the end of June 2016.”
 
Contribution from Non-interest Income

The Public Bank Group continues to widen its revenue stream by growing its non-interest income. Tan Sri Teh said, “The Group’s non-interest income continued to generate revenue for the Group, with the unit trust business, foreign exchange related transactions and fee income from banking operations playing a significant part. The Group has continued to enhance its cross-selling activities and widen its product offerings, while tapping on the Group’s strong retail franchise and extensive delivery channels, to expand our non-interest income.”
 
The Public Bank Group’s unit trust business, undertaken by Public Bank’s wholly-owned subsidiary, Public Mutual, continued to maintain its market leadership in the private unit trust industry despite the challenging market condition. Public Mutual’s retail market share of the Malaysian private sector unit trust industry stood at 49.6% as at the end of May 2016, with 130 funds and a total net asset value of RM67.7 billion under management.

Prudent Approach in Cost Management
 
As at the end of June 2016, the Public Bank Group posted a cost-to-income ratio of 32.3%, significantly better than the banking industry’s average of 48.8%.
 
Tan Sri Teh highlighted that disciplined cost management underpins sustained profitability of the Public Bank Group, “The Group has continued to maintain a low cost-to-income ratio despite the prevailing cost pressure faced by industry players. To best serve the interests of all stakeholder groups, the Group executes careful approach in managing its operating model to ensure best cost efficiency and productivity are carried out while generating revenue growth.”

 Sustained Strong Asset Quality
 
As at end-June 2016, the Public Bank Group’s gross impaired loan ratio stood at 0.5%, as compared to the banking industry’s 1.6%. Tan Sri Teh emphasised, “The Group’s low impaired loan ratio presents a good indication of the Group’s prudent credit administration and risk management practices. While this strengthens customer confidence, it creates considerable headroom for the Group to further grow its business. ”
 
Meanwhile, the impaired loans of the Group was well covered, with loan loss coverage ratio at 116.3% as at end-June 2016, compared to the banking industry’s coverage ratio of 91.2 %. 
 
Overseas Operations
 
For the first half of 2016, the Public Bank Group’s overseas operations contributed 9.4% to the Group’s pre-tax profit. Public Financial Holdings Limited Group and Cambodian Public Bank Plc, both subsidiaries of Public Bank, continued to be the main contributors to the Group’s overseas business growth, generating pre-tax profit of HKD245 million and USD30 million respectively during the period.
 
Having become a 100% wholly-owned subsidiary of the Public Bank Group with effect from 1 April 2016, Public Bank Vietnam Limited stands in good stead to further strengthen the Group’s position in the region, and will continue to explore opportunities in pursuit of revenue growth.
 
Tan Sri Teh said, “The strengthening of Public Bank Group’s business in the region augurs well for its long-term business growth.”
 
Capital Position Well Buffered Against Risk

The Public Bank Group’s common equity Tier 1 capital ratio, Tier 1 capital ratio and total capital ratio stood at a healthy level at 11.1%, 12.0% and 15.4% respectively as at end-June 2016, after deducting the first interim dividend. Tan Sri Teh reiterated that “The Group will continue with its proactive capital management to maintain strong and efficient level of capital to sustain growth of the Group’s business.”
 
Group’s Prospect
 
As the major advanced economies remain on a slow recovery pace and growth in most Asian economies moderates, the UK decision to withdraw from the European Union has added to the uncertainties clouding the economy, posing significant downside pressure to global growth. Malaysia, while experiencing a more moderate economic growth coupled with cautious business sentiments, can expect to face continued headwinds in the near term.
 
In such challenging operating environment, the Public Bank Group will continue to focus on its niche in the retail banking business whilst maintaining its prudent credit policies and cost management. The Group remains steadfast in its commitment to uphold sound risk management practices to support sustainable growth. The Group is confident that its strong market position and solid banking fundamentals built over the last 50 years, will continue to lead the Group to steer through the challenges and heading towards achieving another year of favourable results.
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Y.Bhg. Tan Sri Dato' Sri Dr. Teh Hong Piow
Founder and Chairman of Public Bank

Public Bank To Launch UnionPay Card In Malaysia

For Immediate Release

26 July 2016

Public Bank To Launch UnionPay Card In Malaysia
 
Public Bank, Malaysia’s third largest bank and UnionPay International, a global payment network, signed an agreement for UnionPay Debit Card Issuing Business today. With this partnership, Public Bank will be the first local bank to issue UnionPay card in Malaysia.
 
PB UnionPay Lifestyle Debit Card will be launched to cater to the needs for customers / businessmen particularly for those who frequently travel, offering the convenience of cards payment over carrying large amounts of cash.
 
UnionPay’s acceptance across 160 countries encourage Malaysians who travels often, expatriates and inbound students to take up the card.
 
In Malaysia, UnionPay cards issued locally and overseas are accepted at 80% of ATMs whilst 60% of merchants accept payments by UnionPay cards.
 
The agreement was signed  by Public Bank’s Managing Director, Tan Sri Dato’ Sri Tay Ah Lek and UnionPay International’s Chief Executive Officer, Mr. Cai Jianbo at Menara Public Bank with the presence of other management staff of Public Bank and officials of UnionPay International.
 
Commenting at the launch, Tan Sri Dato’ Sri Tay said, “Being the first local bank in Malaysia to launch UnionPay card once again proves that Public Bank is focused in progressing and improving our core retail business to enhance our customers’ banking experience. It is also a great pleasure in partnering with UnionPay International to offer our customers another new payment option.”
 
Concurring on the significance of this partnership, Mr. Cai Jianbo said, “To issue UnionPay Cards with a leading local brand and institution like Public Bank is a milestone for UnionPay’s Malaysian business. This bodes well for UnionPay’s continued localisation in Malaysia, that we are fully committed to serving local businesses and consumers. And this could not have come at a better time – to celebrate Public Bank’s Golden Jubilee.
 
About UnionPay International
 
UnionPay International (UPI) is a subsidiary of China UnionPay focusing on  international business. In partnership with more than 1,000 institutions worldwide, UnionPay International has extended its card acceptance to 160 countries and regions globally with issuance in over 40 countries and regions. UnionPay International provides high quality, cost effective and secure cross-border payment services to the world’s largest cardholder base and ensures convenient localized services to a growing number of global UnionPay cardholders and merchants.
 
For more information about UnionPay International, please visit www.unionpayintl.com.
 
About Public Bank Berhad
 
Founded in 1966 by Tan Sri Dato’ Sri Dr. Teh Hong Piow and listed on the Main Board of Bursa Securities Malaysia in 1967, Public Bank Berhad is today the leading financial services provider serving over five million customers in Malaysia. Known for its prudent management and strong corporate governance, Public Bank Berhad continues to be accorded international and domestic awards and accolades.
 
The Group continues to commit to deliver excellent customer service and to be more innovative in providing superior financial products and services to meet increasingly sophisticated customer demand. For more information, visit www.pbebank.com.

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Public Bank And Public Islamic Bank To Reduce Its Base Rate By 23 Basis Points

For Immediate Release

25 July 2016

Public Bank And Public Islamic Bank To Reduce Its Base Rate By 23 Basis Points
 
Public Bank today announced the reduction in its Base Rate and Base Lending Rate/Base Financing Rate by 23 basis points effective 27 July 2016, following the reduction by Bank Negara Malaysia in the Overnight Policy Rate (“OPR”).
 
This will bring Public Bank's Base Rate to 3.52% and Base Lending Rate / Base Financing Rate to 6.72%.
 
The Founder and Chairman of Public Bank, Tan Sri Dato' Sri Dr. Teh Hong Piow said, “In line with the objective of the pre-emptive action by Bank Negara Malaysia to reduce the OPR, Public Bank reduces its lending and financing rates to pass on the benefits to the customers. The move is poised to be a positive catalyst for the Malaysian economy to continue growing on a steady path amid increasing signs of moderating momentum in global economic growth. On a positive note, domestic demand as the main engine of the Malaysian economy will remain supported by monetary accommodativeness, healthy financial condition and stable inflation in the domestic economy.”


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Public Bank Gives The Thumbs-Up for Perodua’s First Sedan “Bezza”

For Immediate Release

22 July 2016

Public Bank Gives The Thumbs-Up for Perodua’s First Sedan “Bezza”
 
Perusahaan Otomobil Kedua Sdn Bhd’s (Perodua) first Energy Efficient Sedan, the new Perodua “Bezza” received the thumbs-up from Public Bank during the new sedan Motorcade stop-over at Menara Public Bank in Jalan Ampang, Kuala Lumpur today.
 
Managing Director, Tan Sri Dato’ Sri Tay Ah Lek and Deputy CEO, Dato’ Chang Kat Kiam were on hand to receive the Perodua’s entourage led by Dr. Zahari Husin, Managing Director of Perodua Sales Sdn. Bhd.
 
In his welcoming speech, Tan Sri Tay Ah Lek congratulated Perodua on the launch of Perodua’s first EEV Sedan. Tan Sri Tay said, “Five years ago, Public Bank was proud to be invited to participate in the Perodua Myvi Motorcade. Today, with the unveiling of the New Perodua Bezza, the Bank’s continued participation serves as a show of our commitment in providing financing to Perodua’s new vehicles.”
 
He continued, “Public Bank, being the leading financier in the domestic car market, believes that the new Perodua Bezza will bring our mutually beneficial relationship with Perodua to a higher level. Moving forward, we will ensure that all our Branches and HP Centres nationwide, which specialise in providing hire purchase financing packages, will continue to support all Perodua dealers with our customer-centric service in speedy loan delivery and disbursement of hire purchase loans.”
 
Dr. Zahari Husin in his speech said, “I would like to take this opportunity to thank the Malaysian public as well as our valued customers for their strong support of our brand. It is because of you that Perodua was able to grow and with your honest feedback that we are able to build this car to your needs and wants.”
 
Tan Sri Tay thanked Perodua for its strong support given to Public Bank all these years and said that Public Bank look forward to further strengthen its business relationship with Perodua.

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Public Bank Donates RM100,000 To The Underprivileged

For Immediate Release

28 June 2016

Public Bank Donates RM100,000 To The Underprivileged

Founder and Chairman of Public Bank, Tan Sri Dato’ Sri Dr. Teh Hong Piow presented an outright donation totalling RM100,000 to six beneficiary organisations at Menara Public Bank today. This Hari Raya festive charity programme is one of the many CSR initiatives by Public Bank to commemorate the Bank’s 50th Anniversary this year.
 
The aid recipients are the National Cancer Society Malaysia (Children Home of Hope), Pertiwi Soup Kitchen, Pusat Jagaan Orang-Orang Tua Al-Ikhlas, Pusat Jagaan dan Pendidikan Warga Emas Darul Insyirah, Rumah Perlindungan Al Nasuha and Rumah Anak Yatim Nur Qaseh.
 
The cheque presentation was also attended by Public Bank Managing Director, Tan Sri Dato’ Sri Tay Ah Lek and Public Bank Senior Management Staff besides the officials from the organisations.
 
Managing Director, Tan Sri Tay Ah Lek in his welcoming speech said, “CSR initiatives have long been a part of Public Bank’s culture of caring, nurtured 50 years ago by Founder and Chairman, Tan Sri Dato’ Sri Dr. Teh Hong Piow, who believes in putting more into the world than he takes out.”
 
He continued, “As a leading financial institution, Public Bank has always taken its corporate social responsibility at heart. Under Tan Sri Teh’s magnanimous leadership, Public Bank, while prudently growing its balance sheet, is always mindful of its role as a good corporate citizen in the Malaysia society. Public Bank has always shared its success through its many philanthropic acts and sponsorships in its mission to positively impact society and the environment.”
 
“This is Public Bank’s way of saying we care, as it is in practicing generosity with the less fortunate that we get connected and collectively experience “moments of happiness”, especially with festivities around the corner,” Tan Sri Tay further added.
 
Over a space of 10 years, the Bank has donated over RM10 million towards education, health, environment and community causes through various CSR programme such as the tree planting campaign with MNS, Public Bank-PDRM ‘Program Anda Bijak Anda Selamat’, the Public Bank-IJN Half Way House and many others.
 
Although community programmes have long been considered one of the social responsibilities of the government, Tan Sri Teh Hong Piow fervently hold the view that the responsibility should not solely rest on the government.  Private sectors too can put in their effort to support community initiatives.
 
Public Bank will continue to extend financial support with the objective of delivering positive economic and social impact to the communities in which it operates.
 
Indeed, with Hari Raya Aidilfitri just around the corner, Public Bank hopes to bring cheer to the less fortunate.
 

 
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Tan Sri Teh with the six beneficiary recipients at the cheque presentation ceremony. Also present were Tan Sri Tay Ah Lek, Managing Director (third from left) and Dato’ Chang Kat Kiam, Deputy CEO (far right)
 
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