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Public Bank Launches The PB World MasterCard Credit Card



For Immediate Release

8 April 2016

Public Bank Launches The PB World MasterCard Credit Card
 
Public Bank Berhad launched the PB World MasterCard Credit Card, offering the market with excellent accessibility and superior privileges that complement the lifestyle of today’s discerning Malaysian consumers.
 
The PB World MasterCard Credit Card is targeting the affluent market segment with a minimum annual income of RM150,000. To cater to consumers’ frequent travels, the card offers 3x Air Miles Points for every RM1 overseas transaction and 1x Air Miles Point for every RM1 local transaction. Air Miles conversion to Cardmembers’ choice of frequent-flyer points is offered at a very competitive rate. To further enhance Cardmembers’ travel experience, the Card gives complimentary access to Plaza Premium Lounge and free automatic travel insurance of up to RM2 million.
 
To celebrate the launch, Public Bank Berhad is offering a lifetime annual fee waiver and 8% Cash Back on dining and grocery transactions from 25 February 2016 to 30 June 2016.
 
Present at the launch of PB World MasterCard Credit Card at Menara Public Bank in Kuala Lumpur were Dato’ Chang Kat Kiam, Deputy Chief Executive Officer of Public Bank Berhad and Ms. Chan Chiew Peng, General Manager of Public Bank Retail Financial Services, together with Mr. Safdar Khan, Group Country Manager, Indonesia, Malaysia, and Brunei; Group Head, Islamic Payments, Southeast Asia, MasterCard and Mr. Chayan Hazra, Vice President, Head of Sales, MasterCard Malaysia.
 
Commenting at the launch, Dato’ Chang Kat Kiam, Deputy Chief Executive Officer of Public Bank Berhad said, “The PB World MasterCard Credit Card is the latest product introduced by the Bank as part of our initiative to provide a credit card that suits consumers’ ever-changing needs. This product will also suit well for customers with frequent travelling lifestyle.”

“We are delighted to partner with Public Bank on the launch of the new PB World MasterCard Credit Card. Featuring our contactless payment technology, we hope to provide Malaysian consumers with a faster and more convenient way to pay for everyday purchases. Coupled with best-in-class privileges and rewards, we believe the newly launched card will meet the lifestyle needs of today’s consumers as they embrace contactless payments,” said Safdar Khan, Group Country Manager, Indonesia, Malaysia, and Brunei; Group Head, Islamic Payments, Southeast Asia, MasterCard.
 
To find out more about this Card, customers are invited to visit customer service representatives at any of our branches, log on to Public Bank’s website at www.pbebank.com or call PB Customer Service at 03-2176 8188. Terms and conditions apply.
 
Highlights of the PB World MasterCard Credit Card
 
Airport Privileges
  • Priority Pass welcomes you at over 700 airport VIP lounges worldwide, regardless of the airlines you fly or the class you travel with 25% discount on annual membership fee. You’ll be able to relax, unwind or work in luxurious airport lounges around the world.
  • Enjoy 15% off the retail rate for Meet and Greet Services at over 450 airports
Hotels
  • Complimentary upgrade to Gold status with Starwood Preferred Guest after one night stay when you pay with World MasterCard Credit Card at participating resorts in Asia Pacific
  • Complimentary one-year Leaders Club membership when you book a one night stay with The Leading Hotels of the World. With over 430 Leading Hotels in over 80 countries, you will be able to enjoy the finest hospitality that caters to your needs
Travel
  • Complimentary Michelin-starred lunch, private sightseeing tour and bottle of fine wine with MasterCard’s Gourmet on Tour Programme.
  • Complimentary HERTZ Gold Plus Rewards membership
  • 10% off for all car groups (exclude Dream Cars) with minimum 1 day rental and 10% off + Free two-car-class upgrade with minimum 4 days rental with Hertz
About MasterCard
 
MasterCard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardAP and @MasterCardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.
 
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 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 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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(From left) Ms. Chan Chiew Peng, Dato' Chang Kat Kiam, Mr. Safdar Khan and Mr. Chayan Hazra at the launching ceremony
 
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FPX Signing Ceremony Between Public Bank Berhad And AirAsia Berhad



For Immediate Release

5 April 2016

FPX Signing Ceremony Between Public Bank Berhad And AirAsia Berhad
 
Public Bank Berhad and AirAsia Berhad have on 30 March 2016 officially signed the FPX Service Agreement at Menara Public Bank, Kuala Lumpur.  This signing signifies the start of greater business collaborations between Public Bank Berhad and AirAsia Berhad.
 
The agreement was inked by Public Bank’s Managing Director/Chief Executive Officer, Tan Sri Dato’ Sri Tay Ah Lek and Deputy Chief Executive Officer, Dato’ Chang Kat Kiam.  AirAsia’s Chief Executive Officer, Cik Aireen Omar and its Head of Commercial, Mr. Spencer Lee signed on behalf of AirAsia.  The event was also graced by Malaysian Electronic Clearing Corporation Sdn. Bhd.’s (MyClear) Managing Director, Mr. Peter Schiesser.
 
MyClear is the owner and operator of FPX.  FPX is an online payment solution that allows customers of e-commerce sites the convenience of paying for their online purchases securely from their bank accounts. For e-commerce merchants, FPX is one of the most cost effective, efficient and safe methods of collecting payments. Payments made via FPX are credited immediately to the merchant’s bank account so that merchants receive full instantaneous payment before providing services or shipping goods.
 
The tie-up offers AirAsia’s travellers the convenience of purchasing tickets via AirAsia’s website by debiting their bank accounts maintained with Public Bank Berhad and 22 other participating FPX banks encompassing 98% of bank customers in Malaysia. This service is available 24 hours a day, 7 days a week.
 
This synergistic tie-up is in line with Bank Negara Malaysia’s initiatives to move cash and cheque payments to e-payments. Bank Negara Malaysia’s initiatives include the introduction of the e-payment incentive fund and card reform framework as measures to accelerate the migration to electronic payments. Public Bank has been an active participant in a series of e-payment roadshows and township campaigns on payment card acceptance nationwide organised by Bank Negara Malaysia. The main objective of the roadshows is to create awareness of the developments in the payment industry and to educate the public on e-payment services.
 
Public Bank Berhad is committed to support Malaysia’s transformation to e-payments and will launch new initiatives to promote e-payment in the future. The Bank has organised extensive nationwide e-Payments Forums to promote the Bank’s comprehensive cash management and e-banking services.
 
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(From left) Dato' Chang Kat Kiam, Cik Aireen Omar, Tan Sri Dato' Sri Tay Ah Lek, Mr. Peter Schiesser and Mr. Spencer posing
 
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Public Bank’s 50th Annual General Meeting Held On 28 March 2016

For Immediate Release

28 March 2016

Public Bank’s 50th Annual General Meeting Held On 28 March 2016

In conjunction with Public Bank’s 50th Annual General Meeting held on 28 March 2016, the Founder and Chairman of Public Bank, Tan Sri Dato’ Sri Dr. Teh Hong Piow is pleased to present a review of the Public Bank Group’s performance in 2015.
 
Performance Review
 
Tan Sri Teh said, “The Public Bank Group achieved another profit milestone in 2015 with pre-tax profit of RM6.49 billion, crossing the RM6 billion mark for the first time. This represents 11.6% growth as compared to 2014. Net profit attributable to shareholders grew by 12.0% to RM5.06 billion in 2015, resulting in earnings per share increasing from 123.7 sen in 2014 to 131.1 sen in 2015.”
 
Tan Sri Teh added, “The Public Bank Group continued to maintain its leading position amongst its banking peers in Malaysia with the highest net return on equity of 17.8%, most efficient cost to income ratio of 30.5% and lowest gross impaired loans ratio of 0.5%.”
 
Tan Sri Teh highlighted that, “Despite the challenging operating environment, the Public Bank Group’s loans and deposits grew at a healthy pace of 11.6% and 8.9% respectively. Domestic loans increased by 10.3%, higher than the industry’s growth rate of 7.9%. In particular, domestic customer deposits grew by 7.5%, significantly higher than the industry’s deposits growth of 1.8%. This has led to improved market shares of loans and deposits in the domestic market.”

Tan Sri Teh added, “In view of the Group’s good performance in 2015, a second interim dividend of 32 sen was paid on 1st March 2016. Together with the first interim dividend of 24 sen paid in August 2015, total dividend for 2015 amounted to 56 sen.” The total dividends paid for 2015 was RM2.16 billion, representing a payout of 42.7% of the Group’s net profit for 2015.
 
Above-industry Growth in Loans and Customer Deposits
 
The Group’s loans growth continued to be propelled by financing for the purchase of residential properties and passenger vehicles as well as commercial lending to small and medium enterprises for the purchase of commercial properties and working capital. As at the end of 2015, the Group’s retail consumer and commercial loans and financing portfolio collectively formed 86% of its total loans and financing.
 
Tan Sri Teh further added, “The Group’s domestic loans market share improved to 17.5% as at the end of 2015, from 17.1% a year ago. The Group sustained its leading market share positions in the domestic financing for purchases of residential properties, commercial properties and passenger vehicles, with market shares of 19.2%, 33.8% and 29.6% respectively as at the end of 2015.
 
On the funding side, the Group continues to be supported by its strong retail franchise and large depositor base of over five million customers. The Group’s above industry customer deposits growth has resulted in domestic market share of customer deposits expanding to 16.6% as at the end of 2015, from 15.9% a year ago.”
 
Superior Asset Quality
 
Tan Sri Teh said, “The Public Bank Group’s asset quality remains the best in the banking industry. Gross impaired loans ratio remained low at 0.5% in 2015, about one-third that of the banking industry’s gross impaired loans ratio of 1.6%.”
 
The Group's loan loss coverage ratio of 120.8% as at the end of 2015 was also higher as compared to the Malaysian banking industry’s ratio of 96.2%. Inclusive of regulatory reserves set aside, the Group’s loan loss coverage was significantly higher at 258.6%.

International Operations
 
The pre-tax profit of the Public Bank Group’s overseas operations grew by 32.5% to RM572.2 million in 2015, contributing 8.8% to the Group’s overall pre-tax profit in 2015. Excluding the effect of favourable foreign exchange movement, the pre-tax profit of the Group’s international operations grew by 12.5% mainly contributed by Cambodian Public Bank Plc, a wholly-owned subsidiary of Public Bank, which registered a pre-tax profit growth of 15.7% to USD58.5 million in 2015.
 
Sustaining Growth in Non-Interest Income
 
Growing non-interest income remains a key strategic focus of the Public Bank Group. In 2015, the Group’s non-interest income increased by 22.4% as compared to 2014. This was mainly due to higher income from unit trust business, foreign exchange transactions and fee income from banking operations.
 
Tan Sri Teh said, “The Public Bank Group’s unit trust management business undertaken by its wholly-owned subsidiary, Public Mutual Berhad (“Public Mutual”), continued to be a main contributor to the non-interest income growth of the Group. In 2015, Public Mutual recorded pre-tax profit of RM541.2 million and sustained its market leadership in the private unit trust business with 122 funds under its management. Total assets under management of Public Mutual stood at RM64.8 billion, capturing an overall retail market share of 48.9%.”
 
Healthy Capital Position
 
The Public Bank Group’s capital position remained healthy with its common equity Tier I capital ratio, Tier I capital ratio and total capital ratio standing at 10.9%, 12.0% and 15.5% respectively as at the end of 2015, after deducting second interim dividend.
 
Tan Sri Teh commented that, “Public Bank is well-positioned to ensure compliance with the more stringent requirements of the Basel III capital framework, including any additional capital buffer to be introduced by Bank Negara Malaysia, without restraining the Group’s organic business growth strategy.”
 
Superior Returns to Shareholders
 
The Public Bank Group continues to deliver consistent and excellent returns to its shareholders, even during challenging times, clearly demonstrating the defensive quality of the investment made in Public Bank.
 
Tan Sri Teh highlighted, “If a shareholder of Public Bank had bought 1,000 shares in Public Bank when it was listed in 1967, and assuming the shareholder had subscribed for all rights issues to date and had not sold any of the Public Bank shares, he would have 148,938 Public Bank shares worth RM2.76 million as at      31 December 2015. In addition, he would have received total gross dividends of RM1.08 million. This translates into a total value of RM3.84 million, representing a remarkable compounded annual rate of return of 19.1% for each of the 48 years since 1967.”
 
Corporate Responsibility
 
The Public Bank Group continues to adopt sustainable practices in its core business of banking. The Group also supports a broad range of activities and initiatives to promote sustainability in the communities in which it operates. On education, the UTAR-Tan Sri Dato’ Sri Dr. Teh Hong Piow Student Loan Fund and TARC- Tan Sri Dato’ Sri Dr. Teh Hong Piow Student Loan Fund continued to benefit the students of University Tunku Abdul Rahman and Tunku Abdul Rahman College to fulfil their ambition in education. On healthcare, the Group continued to lend a helping hand to the National Blood Bank and Institut Jantung Negara by promoting their activities at Public Bank’s premises. In response to the flood disaster in the country at the end of 2014, Public Bank provided financial assistance to those affected by the floods via the Special Relief Facility initiated by Bank Negara Malaysia. In support of environment sustainability, the Public Bank Group’s new 40-storey building for Public Mutual’s head office is designed with green concepts and built using eco-friendly materials and technologies.
 
“Through the Group’s banking business, the Group serves retail consumers and small and medium enterprises, and promote economic as well as social development by encouraging savings and mobilising funds towards the development of trade and commerce. As a testimony to the Group’s sustainability initiatives, Public Bank has been included in the FTSE4Good Bursa Malaysia Index in 2015,” said Tan Sri Teh.
 
Recognition of Banking Excellence
 
Tan Sri Teh commented that, “The Public Bank Group continued to garner international awards in recognition of its banking excellence.” The awards received include:
  • Best Bank in Malaysia 2015 by Global Finance
  • Best Bank in Malaysia 2015 by FinanceAsia
  • Best Bank in Malaysia 2015 by Alpha Southeast Asia
  • Best Bank in Malaysia 2015 by Euromoney
  • Strongest Bank by Balance Sheet in Malaysia 2015 by The Asian Banker
  • Best Domestic Bank in Malaysia 2015 by Asiamoney
  • Best Domestic Bank in Malaysia 2015 by The Asset
  • Domestic Retail Bank of the Year - Malaysia 2015 by Asian Banking & Finance
  • Malaysia Automotive Finance Company of the Year 2015 by Frost & Sullivan
  • The BrandLaureate Billion Dollar Brand Award 2014-2015 by Asia Pacific Brands Foundation
  • The BrandLaureate Special Edition World Awards as a Premier Corporate Brand 2015 by Asia Pacific Brands Foundation
 
Corporate Governance Awards
 
Tan Sri Teh said, “The Public Bank Group’s pursuit of excellence in corporate governance continued to be recognised by reputable international publications and independent organisations.” These include:
  • The 5th Asian Excellence Recognition Awards 2015 for Best Corporate Social Responsibility for Malaysia, Best Investor Relations Company for Malaysia, Best Environmental Responsibility for Malaysia and Best Corporate Communications Team for Malaysia by Corporate Governance Asia
  • Corporate Governance Asia Recognition Award 2015 for Malaysia (Icon on Corporate Governance) by Corporate Governance Asia
  • Ranked No. 1 in the ‘Most Committed to Paying Good Dividends’ category in the FinanceAsia’s “Asia’s Best Companies Poll 2015”
  • The Asset Platinum Corporate Award 2015 for All-Round Excellence in Financial Performance, Management, Corporate Governance, Social Responsibility, Environmental Responsibility and Investor Relations by The Asset
  • MSWG – ASEAN Corporate Governance Transparency Index, Findings and Recognition 2015 for Excellence Award for Top 5 Corporate Governance and Performance (Overall), Excellence Award for Long-Term Value Creation (Overall Category), Industry Excellence – Financial and Merit Award for Corporate Governance Disclosures by Minority Shareholder Watchdog Group
  • Inclusion in the FTSE4Good Bursa Malaysia Index by Bursa Malaysia
Outlook
 
Tan Sri Teh said, “In 2016, Public Bank celebrates its 50th year of operations in Malaysia. Public Bank was envisioned as the “bank for the people” and over the last half a century, the Group has achieved many corporate milestones. With its 49 years of unbroken profitability track record, the Group has established its leading position in the banking industry.”
 
On the strategic directions and outlook for the Public Bank Group, Tan Sri Teh commented that, “The Group enters 2016 mindful of the ongoing economic and business challenges, yet confident that it has what it takes to surge ahead. Going forward, the Group will remain focused on its core retail banking and financing business, whilst maintaining its prudent credit policies, as well as upholding strong corporate governance. Moving into the Group’s 50th anniversary in 2016, the Group is confident that it is well positioned to achieve sustainable growth in the future.”

 


The Public Bank Board Members (From left) Dato' Chia Lee Kee, Mr. Tang Wing Chew, Tan Sri Dato' Sri Tay Ah Lek, Tan Sri Dato' Sri Dr. Teh Hong Piow, Dato' Sri Lee Kong Lam, Mr. Lai Wan, Ms. Lai Wan Keen, Ms. Cheah Kim Ling



Y. Bhg. Tan Sri Dato' Sri Dr. Teh Hong Piow, Founder and Chairman of Public Bank welcoming the shareholders
 
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Public Bank Receives 100% Foreign-Owned Bank Licence In Vietnam

For Immediate Release

25 March 2016

Public Bank Receives 100% Foreign-Owned Bank Licence In Vietnam

Public Bank Berhad (PBB) has on 24 March 2016 received the 100% foreign-owned bank licence from the State Bank of Vietnam (SBV) in relation to PBB’s acquisition of the remaining 50% equity capital in VID Public Bank (VPB), the 50:50 joint venture bank with Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV).
 
Effective 1 April 2016, VPB will become a 100% wholly-owned subsidiary of PBB and will be renamed as Public Bank Vietnam Limited (PBVN). Under the terms of the foreign-owned bank licence, PBVN has been granted a term of operations of 99 years.
 
Founder and Chairman of Public Bank Group, Tan Sri Dato’ Sri Dr. Teh Hong Piow said that, “The 100% foreign-owned bank licence granted to Public Bank is a significant milestone in VPB’s 24-year banking journey in Vietnam. PBB was one of the first to set-up a joint venture bank in Vietnam in 1992, and VPB has been operating profitably since its incorporation. Currently, VPB has 7 branches in Vietnam located in Hanoi, Ho Chi Minh, Danang, Binh Duong, Hai Phong, Cho Lon and Dong Nai.”
 
Tan Sri Teh further added that, “The Vietnamese economy has recorded commendable growth, with the GDP growth in 2015 at 6.68%, the highest in recent years. Public Bank is committed to continuing its support of the efforts and initiatives of the Government of Vietnam in the economic growth and financial development of Vietnam. Public Bank Vietnam will continue to focus on retail banking business in order to serve a wider reach and spectrum of customers in Vietnam, especially SMEs lending which is the engine of growth for the country. In addition, Public Bank Vietnam will provide a convenient platform for the Malaysian business community to conduct business operations in Vietnam.”
 
Tan Sri Teh said that, “The issuance of the 100% foreign-owned bank licence to PBVN will strengthen PBB’s regional presence in Indo-China. Cambodian Public Bank, a wholly-owned subsidiary of PBB is currently the third largest bank in Cambodia with a network of 28 branches, whilst Public Bank has 4 branches in Laos PDR. The inclusion of PBVN as a wholly-owned subsidiary of PBB augurs well for the Group to maximise the synergy within Indo-China and to leverage on the strength of the PB Brand.”
 
Tan Sri Teh reiterated that, “Public Bank remains committed to expanding its overseas operations through organic growth strategy in Indo-China, as well as in Hong Kong, China and Sri Lanka where the Group has banking presence.”

 
 
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Tan Sri Teh Hong Piow Conferred The Royal Order Of Monisaraphon, Commander By The Royal Government Of The Kingdom Of Cambodia

For Immediate Release

14 March 2016

Tan Sri Teh Hong Piow Conferred The Royal Order Of Monisaraphon, Commander By The Royal Government Of The Kingdom Of Cambodia

Founder and Chairman of Public Bank, Tan Sri Dato’ Sri Dr. Teh Hong Piow has been conferred The Royal Order of Monisaraphon, Commander by the Royal Government of the Kingdom of Cambodia on 12 March 2016, the first Malaysian banker ever to receive the Royal Order.
 
The conferment which came on Tan Sri Teh’s Grand 86th birthday was another icing on Tan Sri Teh’s long list of lifetime accolades and recognition. 
 
The Royal Order of Monisaraphon, Commander from the Royal Government of the Kingdom of Cambodia is in recognition of Tan Sri Teh’s outstanding leadership and immense social economic contribution towards the progress and development of Cambodia over the last 24 years.  Cambodian Public Bank Plc, the wholly-owned subsidiary of Public Bank first opened its door in Cambodia in 1992.
 
The Royal Order of Monisaraphon, Commander was founded by the French on 1 February 1905 and conferred to outstanding Cambodian individuals who had excelled and contributed in the fields of literature, history and science.  These fields were subsequently expanded to include education, fine art and social on 5 October 1995.
 
The prestigious award was approved by the Council of Ministers with the letter of award and certificate personally signed by the Head of Government, Prime Minister Samdech Hun Sen.
 
Tan Sri Teh in his acknowledgement said, “I thanked the Royal Government of the Kingdom of Cambodia and the National Bank of Cambodia for having approved Cambodian Public Bank to be the first foreign bank to set-up business 24 years ago which allowed us to be a partner in the nation’s development and progress, as well as promoting excellence and building a strong corporate culture - a culture of integrity and discipline.  I would also like to dedicate this award to our customers, shareholders and business associates.”
 
With this award, Tan Sri Teh has received a total of 45 personal to holder awards in recognition of his exemplary commitment to excellence and lifetime dedication to the banking industry in the Asian Region.   

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Caption: (From left) Mr. Phan Ying Tong, Regional Head of Indo-China Operations, Tan Sri Dato’ Sri Dr. Teh Hong Piow and Tan Sri Dato’ Sri Tay Ah Lek at the award presentation ceremony

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Launching Of PB eFixed Deposit Account

For Immediate Release

18 February 2016

Launching Of PB eFixed Deposit Account

Public Bank Berhad has launched the PB eFixed Deposit Account (PB eFD), targeted at customers who are seeking for banking convenience through e-banking. The PB eFD is a “Go Green” paperless fixed deposit account which allows Account creation, placements and withdrawals to be performed online via PBe Online Banking (PBe). 
 
PB eFD is hassle free for customers as they are able to enjoy Fixed Deposit (FD) interest rate just by applying for a PB eFD account and making FD transactions anywhere via PBe seven (7) days a week. The PB eFD placements are carried out in real time with minimum placement from as low as RM1,000.
 
PB eFD is open to individual customers aged 18 years and above as well as sole proprietors, who have existing conventional personal Current Accounts or Savings Accounts and who have registered for PBe.
 
Customers are able to enjoy their interest earned before the maturity as PB eFD offers the option of monthly automatic crediting of interest into customers’ Current Account or Savings Account. Besides that, PB eFD offers automatic renewal for the same tenure at the prevailing board rates for the convenience of customers.
 
Just one click to enjoy higher interest! In conjunction with the launch of PB eFD, Public Bank is running a "PB eFD Campaign" from 12 January to 31 March 2016 offering higher promotional interest rates of up to 3.60% p.a. for tenure 3 months and above. With “PB eFD Campaign”, customers can watch their money grow and earn competitive interest rates.  
 
Minimum efforts are required to participate in the PB eFD Campaign as customers just have to open a PB eFD account via PBe and make a minimum PB eFD placement amount of RM1,000 during the campaign period in order to enjoy the higher promotional interest rates.
 
To find out more about PB eFD and its campaign, customers may log on to Public Bank website at www.pbebank.com or call 03-2179 5000 during normal working hours. Terms and conditions apply.
 

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Public Bank Group Recorded RM6.49 Billion Pre-Tax Profit For 2015 And Declared Second Interim Dividend Of 32 Sen

For Immediate Release

3 February 2016

Public Bank Group Recorded RM6.49 Billion Pre-Tax Profit For 2015 And Declared Second Interim Dividend Of 32 Sen

 
 Chairman’s Review
 
The Founder and Chairman of Public Bank, Tan Sri Dato’ Sri Dr Teh Hong Piow announced today that “The Public Bank Group achieved yet another milestone financial results in 2015 with pre-tax profit of RM6.49 billion, surpassing the RM6.0 billion mark for the first time. This represents 11.6% growth from the pre-tax profit of RM5.81 billion achieved a year ago. Net profit attributable to shareholders grew by 12.0% to RM5.06 billion, translating to a net return on equity of 17.8% for 2015.” The Group’s operating revenue rose by 13.8% to RM19.2 billion from RM16.9 billion a year ago.
 
On a quarterly basis, the Public Bank Group recorded a net profit attributable to shareholders of RM1.49 billion in the fourth quarter of 2015. This represented a growth of 19.0% as compared to RM1.25 billion achieved in the previous corresponding quarter. Similarly, pre-tax profit for the quarter also grew by 18.5% to RM1.86 billion as compared to the previous corresponding quarter.
 
The Malaysian economy is faced with increasing challenges arising from low commodity prices, volatility in the financial market and the weak external environment. Against the macro backdrop, the Public Bank Group continued to demonstrate resilience in performance by achieving healthy loan growth of 11.6% and deposit growth of 8.9%. The results reflected the consistent execution of the Group’s organic growth strategy which continues to deliver favourable results to our customers and our shareholders,” commented Tan Sri Teh.

Tan Sri Teh further added that, “With the favourable financial performance, not only did the Group continue to preserve its coveted track record of 49 years of unbroken profitability since the commencement of its operations, it also continued to stand out amongst its Malaysian banking peers by delivering the highest net return on equity of 17.8%, as well as the best in asset quality and cost efficiency.”
 
In view of the Public Bank Group’s commendable performance in 2015, Tan Sri Teh announced that, “The Board of Directors has declared a second interim dividend of 32 sen, taking full year dividend for 2015 to 56 sen.” The total dividend paid and payable for 2015 amounted to RM2.16 billion and represents a total payout of 42.7% of the Group’s net profit for 2015.
 
Healthy Growth in Loans and Deposits
 
For the financial year ended 31 December 2015, the Public Bank Group sustained a healthy loan growth momentum at a rate of 11.6%. Domestic lending business grew by 10.3% over the same period, outpacing the domestic banking industry’s loan growth rate of 7.9%.
 
The Public Bank Group’s loan growth was mainly attributed to the lending growth in its retail banking segment, comprising financing for the purchase of residential properties and passenger vehicles, as well as extension of credits to small and medium enterprises. The Group’s retail loan portfolio collectively accounted for 86% of its total loans.
 
Despite the challenging operating environment, the Group’s total customer deposit has also recorded a healthy growth rate of 8.9% during the year. The Group’s domestic customer deposit grew by 7.5%, significantly higher than the domestic banking industry’s growth rate of 1.8%.

“The Group’s robust funding position was mainly supported by its strong retail franchise and large domestic depositor base of over five million customers who continue to place their trust and confidence in the Group in safeguarding their funds,” remarked Tan Sri Teh.
 
With the steady inflow of customer deposits, the Public Bank Group remains well funded with a healthy net loan to deposit ratio of 90.3% as at the end of 2015.
 
Sustaining Growth in Non-Interest Income
 
Tan Sri Teh highlighted that “Growing fee-based revenue remains as a key strategic focus of the Public Bank Group.” Arising from the Group’s initiative to drive growth of its non-interest income in order to sustain better return for its shareholders, the Group’s non-interest income increased by 22.4% in 2015 as compared to 2014. This was mainly contributed by higher income from its unit trust business, foreign exchange related transactions and fee income from banking operations.
 
The Public Bank Group’s unit trust management business undertaken by its wholly-owned subsidiary, Public Mutual Berhad (“Public Mutual”), continued to contribute positively to the non-interest income growth of the Group. For the year 2015, fee income from unit trust business made up 33% of the Group’s total non-interest income. As at the end of 2015, Public Mutual manages 122 funds with a total net asset value of RM64.8 billion and has remained as the market leader with an overall retail market share of 48.9% in the private unit trust business. The Public Bank Group will continue to enhance and invest in the infrastructure and the wide distribution network of Public Mutual, while ensuring appropriate risk management processes are in place to safeguard the investment of funds of its customers.
 
Sustained High Productivity and Cost Efficency
 
“The Public Bank Group continued to be the most efficient banking group in Malaysia with its low cost-to-income ratio of 30.5% as compared to the banking industry’s average cost-to-income ratio of 45.5%,”  said Tan Sri Teh.
 
Tan Sri Teh added that, “The Group is committed to continue with prudent cost discipline at all times and to consistently pursue high productivity and cost efficiency in all aspects of its operations, prioritising the investment and deployment of resources and technology to where they are most effective without compromising on compliance and service quality.”
 
Superior Asset Quality
 
Tan Sri Teh highlighted that, “Amidst the prevailing economic uncertainties and challenges, the Public Bank Group continued to demonstrate resilience in its asset quality.”
 
As at the end of 2015, the Public Bank Group’s impaired loan ratio remained low at 0.5%, significantly lower than the industry ratio of 1.6%. The Group’s loan loss coverage ratio of 120.8% as at the end of 2015 was also higher as compared to the Malaysian banking industry’s ratio of 96.2%.
 
Tan Sri Teh further added, “To safeguard its strong asset quality while maintaining steady growth in its lending business, the Group will continue to adopt prudent approach and practices in managing the quality of its loan portfolio right from origination to the recovery of impaired loans. These include establishing strict and prudent credit policies, as well as putting in place efficient and effective approval and recovery processes.
 
Overseas Operations
 
The pre-tax profit of the Public Bank Group’s overseas operations grew by 32.5% from RM431.9 million in 2014 to RM572.2 million in 2015, contributing 8.8% to the Group’s overall pre-tax profit for 2015. Excluding the effect of favourable foreign exchange impact on the Group’s Overseas Operations, the pre-tax profit growth was 12.5% mainly contributed by Cambodian Public Bank Plc, a wholly-owned subsidiary of Public Bank, which registered a pre-tax profit growth of 15.7% to USD58.5 million as compared to 2014.
 
Tan Sri Teh commented that, “The Group remains committed to expand its presence in the region through organic growth strategy and will continue to transfer its best practices from its domestic operations to accelerate business growth in its overseas operations.”
 
Healthy Capital Position
 
The Public Bank Group continued to maintain a healthy level of capital with its common equity Tier 1 capital ratio, Tier 1 capital ratio and total capital ratio standing at 10.9%, 12.0% and 15.5% respectively as at the end of 2015, after deducting the second interim dividend.  
 
Tan Sri Teh emphasised that, “Public Bank will continue to be proactive in its capital management in order to ensure that the Group’s capital position remains healthy at all times in support of the Group’s business growth strategies and maximising its shareholder value while balancing the need for higher capital retention as required under the Basel III capital regime.” 
 
Group’s Prospect
 
“Outlook for the Malaysian economy is expected to remain steady, but there are challenges ahead. Gross Domestic Product growth is expected to be between 4.0% and 4.5% in 2016. On the banking industry front, we expect intense competition for market share and the more stringent capital and liquidity requirement, will continue to put pressure on net interest margin and return on equity.
 
The Public Bank Group will continue to pursue organic growth strategy in the core retail banking and financing business, whilst maintaining its prudent credit policies, as well as upholding strong corporate governance. Facing the challenges ahead, the Public Bank Group’s key priorities are to accelerate business innovation and pursue operational efficiency in order to deliver the Group’s commitment to excellence to all its stakeholders.
 
Public Bank has over the last 49 years, established its leading position in the banking and finance industry. Moving into our 50th year anniversary in 2016, we are confident that we are well positioned for sustainable growth into the future.” concluded Tan Sri Teh.


 
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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 Berhad Launches The PB MasterCard Lifestyle Debit

For Immediate Release

22 January 2016

Public Bank Berhad Launches The PB MasterCard Lifestyle Debit
 
Public Bank Berhad launched the PB MasterCard Lifestyle Debit, exclusively to the Bank’s banking customers of all segments. It is tailored for the market as a combo debit card which function as an ATM card, domestic and international debit card thus enabling retail transactions to encourage customers to go cashless.
 
Using the PB MasterCard Lifestyle Debit, customers will be entitled to a 1.0% Cash Back for Overseas Retail Transactions and Overseas Online Transactions. The cash back will be credited into the banking account on a monthly basis. This helps to relieve the burden of PB travelers carrying cash when they are traveling around the world and this will further galvanize the cashless initiative.
 
The new debit card features MasterCard Contactless which enables payments with a simple tap at any contactless-enabled payment terminal at over 3 million merchants worldwide. No signature or PIN is required as long as the retail purchase is RM250 and below. This added feature will further enhance PB customer’s experience enabling them to spend less time queuing at the cashier counter by offering a secure, fast and convenient way to pay for everyday purchases.
 
For the launch promotion, Public Bank will reward the first 10,000 qualified Public Bank Lifestyle Debit Cardmembers with a RM38 Cash Back upon three retail transactions of any amount charged on the card within the first month from card issuance date.
 
To find out more about this Card, customers are invited to meet our customer service representatives at any of our branches, log on to Public Bank’s website at or call PB Customer Service at 03-2176 8000. Terms and conditions apply.
 
About MasterCard
 
MasterCard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardAP and @MasterCardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.
 
About Public Bank Berhad
 
Founded in 1966 by Tan Sri Dato’ Sri Teh Hong Piow and listed on the Main Board of Bursa Securities Malaysia in 1967, Public Bank 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 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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“PB Golden Fortune Brings You Happiness, Prosperity And Success” - Public Bank Offers 24K Gold-Plated Gifts

For Immediate Release

13 January 2016

“PB Golden Fortune Brings You Happiness, Prosperity And Success” – Public Bank Offers 24K Gold-Plated Gifts

To celebrate the upcoming Chinese New Year, ‘PB Golden Fortune’ campaign is back to reward our loyal customers. The campaign is open to all new and existing Public Bank customers from now until 30 April 2016.
 
Two exquisite limited edition 24K gold-plated auspicious gifts consisting of a plus size gift namely “Fu Lu Shou” and a standard size gift namely “Blissful Prosperity Peony” are up for grabs. These gifts are exclusively designed where each gift represents a magnificent piece of gold craft that symbolizes great blessings and good fortune. The gifts are limited and only available while stock lasts.
 
There are two packages i.e. Golden Package and Fortune Package for customers’ selection. Customers can either deposit in PLUS Current/Savings Account (PLUS CASA) or combine investment (Unit Trust Funds or Gold Investment Account) with Current/Savings Account in order to get the exclusive gift(s). Golden Package offers one Blissful Prosperity Peony and Fortune Package offers one Fu Lu Shou.
 
This campaign is designed for customers who are looking for a diversified array of investment products in achieving their financial goals. Customers can choose from a vast selection of Unit Trust funds to cater to their various risk appetites in order to achieve their financial goals through proper financial planning. In addition, Gold Investment Account has remained a popular investment tool to safeguard wealth. For customers who simply want to save their monies, they can choose to deposit in PLUS CASA.
 
Just select the Golden Package or Fortune Package of your choice and be rewarded with the limited edition 24K gold-plated gift(s). Collect both designs or collect bundles of gifts by signing up for multiple packages!
 
To find out more about this Campaign, customers are invited to meet our Financial Executives at any of our branches, log on to PBB website at www.pbebank.com or call free phone at 1-800-22-9999 during normal working hours. Terms and conditions apply.
 
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Comments On The Budget 2016

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

23 October 2015

Comments On The Budget 2016
 
Faced with increased uncertainties and volatilities in the current economic and financial environment, we recognise that the crafting of Budget 2016 is indeed a challenging task as it requires a balancing act of sustaining economic growth and addressing issues of rising cost of living, while ensuring continued fiscal prudence. 
 
On the Federal Government finance, we support the Government’s firm and continued commitment to address the country’s fiscal challenge by further reducing the budget deficit to 3.1% of GDP, amid the more subdued growth in its revenue base. The continued discipline in managing the Federal Government’s operating expenditure should augur well towards the efficient utilisation of the Government’s income and strengthening its fiscal position. 
 
We welcome the Government’s pragmatic measures to support a sustainable economic growth. The continued engagement on investing in large-scale and high-impact development projects, infrastructure spending, as well as measures in energising the small and medium enterprises should create multiplier effects that will bode well for the economy and build capacity for the future.
 
We are glad that Budget 2016 continues to put priority on raising productivity and innovation, as well as enhancing our human capital. These are critical ingredients for Malaysia to progress towards becoming a high-income advanced economy, because such a status of success should not just be measured by capital wealth and economic statistics, but more importantly the overall quality and well-being of our people. We certainly hope all the planned and proposed measures in these areas will effectively be implemented.  
 
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Y.Bhg. Tan Sri Dato' Sri Dr. Teh Hong Piow
Founder and Chairman of Public Bank

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