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Public Bank Is Fully Committed To Provide Ongoing Targeted Repayment Assistance
FOR IMMEDIATE RELEASE
 
14 June 2021
 
Public Bank Is Fully Committed To Provide Ongoing Targeted Repayment Assistance

Public Bank reaffirms its full commitment to offer ongoing Targeted Repayment Assistance to support all customers who face loan repayment difficulty due to the Movement Control Order (MCO) and the effect of the COVID-19 pandemic.

Public Bank’s COVID-19 Targeted Repayment Assistance Programme which was first launched in August 2020 comprises a full suite of extremely flexible and comprehensive repayment packages. These flexible repayment packages are made available for all segments of individual customers as well as microenterprises and SMEs, with various assistance in the form of deferment or reduction of monthly instalment payment.

To facilitate greater convenience for customers, Public Bank had also developed a digital platform to enable a full straight-through online process on customers’ applications for the repayment assistance. 

Public Bank Managing Director and Chief Executive Officer, Tan Sri Dato’ Sri Tay Ah Lek said today, “The Public Bank’s Targeted Repayment Assistance Programme has been progressing very well. To date, this programme has assisted over 160,000 customers, with relief assistance amounting about RM40 billion and approval rate of close to 100% of total customers’ submissions. Public Bank’s proactive efforts in extending its financial help, coupled with the Government and Bank Negara Malaysia’s significant initiatives to revive the economy, have helped many customers to gradually regain their financial strength. Currently, more than 90% of Public Bank’s customers are paying their monthly loan instalment.”

Tan Sri Tay added, “However, Public Bank understands that the constantly high number of COVID-19 cases and the recent MCO may have posed renewed challenges to people’s livelihood. Many small businesses are also encountering a difficult period of financial constraint. While the Bank is mindful that the MCO is necessary to protect the safety and health of the people, the Bank will continue to play its part and remain fully committed to provide immediate assistance for customers who need financial help. The Bank assures its customers that it will continue to make available its flexible repayment assistance packages for customers to opt for the repayment option that best suit their financial condition.”

For the B40 segment, individual customers who have lost their jobs as well as SMEs / microenterprises that are not allowed to operate during the MCO, Public Bank is offering a loan deferment for three months, or a 50% reduction in the monthly instalment payment for six months.

Further, for individual customers who encounter a reduction in income, be it B40, M40 or T20, as well as SMEs and microenterprises, Public Bank will continue to provide different options of repayment packages allowing customers to make lower monthly repayment that commensurate with their income reduction.

To cater to the needs of the Bank’s varying customer base with different financial conditions, Public Bank has customised its repayment packages with accommodative monthly instalment reduction. Affected customers who face significant financial difficulties are offered a reduction of up to 75% of their existing monthly instalment under these flexible packages. Customers may also propose any other reschedule or restructure arrangement that suit their financial needs.

Public Bank’s customers who wish to opt for financial assistance will only need to reach out to the Bank and indicate their option of restructured repayment. All opt-in submissions will be based on customer’s self declaration and no document is required. Customers may contact the Bank via email or telephone, or through the digital opt-in platform available on the Bank’s website. For further information, customers may visit the Bank’s website at https://www.pbebank.com.
 
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Public Bank Group Achieved 15.1% Net Profit Growth In The First Quarter Of 2021
FOR IMMEDIATE RELEASE
 
11 May 2021
 
Public Bank Group Achieved 15.1% Net Profit Growth In The First Quarter Of 2021

Highlights on Financial Performance

Tan Sri Dato’ Sri Dr. Teh Hong Piow, the Founder, Chairman Emeritus, Director and Adviser of Public Bank is pleased to announce today, “The Public Bank Group started the year of 2021 with positive momentum. In the first quarter of 2021, the Public Bank Group achieved 15.7% growth in its pre-tax profit to RM2.00 billion compared to RM1.73 billion in the corresponding period in 2020. Net profit attributable to shareholders grew by 15.1% over the same period to RM1.53 billion.”

Tan Sri Teh commented that, “For the first quarter of 2021, the operating environment remained challenging as the Movement Control Order 2.0 was imposed to address the resurgence of COVID-19 cases. Despite these challenges, the Malaysian economy gradually gained momentum, on the back of improved sentiment arising from the global deployment of COVID-19 vaccines, together with various ongoing policy support. Under the improved economic environment, the Public Bank Group achieved better profit performance, driven by the continued expansion in loans and deposits businesses, and further boosted by fee-based revenue growth.”

During the first quarter of 2021, the Public Bank Group continued to achieve an efficient cost-to-income ratio of 31.8% and a high net return-on-equity of 13.5%.
 
Continued Expansion in Loans and Deposits
 
“The Public Bank Group continued to gain traction in its lending and deposit-taking businesses, despite the ongoing economic challenges,” said Tan Sri Teh.
 
As at the end of March 2021, the Public Bank Group’s total loans recorded an annualised growth of 4.8%. This was mainly supported by residential property financing, passenger vehicle financing and SME financing.

Tan Sri Teh further added, “With the low interest rate environment and economic stimulus measures, the Group recorded improvements in its housing loans approvals, with an increase of 26.5% in the first quarter of 2021 compared to the same period last year. Besides that, the Group’s proactive promotion and participation in various special financing schemes initiated by the Government and Bank Negara Malaysia to assist SMEs in overcoming their financial difficulties, had further contributed to the Group’s loan growth.” 
 
On deposit-taking, the Group’s total customer deposits achieved an annualised growth of 2.9% and domestic customer deposits registered an annualised growth of 3.0%. The lower-cost current and savings deposits continued to grow at a strong pace during the quarter with an annualised growth of 18.4%.
 
Strong Growth in Non-interest Income
 
Non-interest income increased by 16.6% in the first quarter of 2021 compared to the corresponding period in 2020, mainly supported by the stronger growth achieved in the Group’s unit trust business, fee and commission income as well as stockbroking income.
 
Tan Sri Teh added, “For the first quarter of 2021, the Public Bank Group’s unit trust business which is being managed by its wholly-owned subsidiary, Public Mutual, remained the main contributor to its non-interest income. Public Mutual recorded a commendable performance in the first quarter of 2021, with its pre-tax profit growing by 33.6% quarter-on-quarter to RM216.6 million. As at the end of March 2021, Public Mutual continued to capture a large retail market share of 32.2% and managed a total of 166 unit trust funds with assets under management totalling RM101.3 billion.”
 
Prudent Cost Management
 
Tan Sri Teh highlighted, “The Public Bank Group remained as the most cost-efficient bank in Malaysia, with cost-to-income ratio of 31.8%, significantly better than the domestic banking industry’s cost-to-income ratio of 42.8%. In light of the ongoing challenging operating condition, the Group will continue to manage cost prudently in order to sustain profitability.”  
 
Stable Asset Quality
 
As at the end of March 2021, the Public Bank Group’s gross impaired loan ratio stood at 0.4%, well below the banking industry’s gross impaired loan ratio of 1.6%.
 
Further, the Public Bank Group’s loan loss coverage ratio was maintained at a prudent level of 247.0% compared to the banking industry’s loan loss coverage of 111.8%. Including the RM1.1 billion regulatory reserves that has been set aside, its total reserves for loan losses was higher at 337.7%.

Tan Sri Teh commented, “The COVID-19 pandemic had posed a downside risk to the banking industry’s asset quality. However, on the back of various relief and stimulus measures initiated by the Government and Bank Negara Malaysia, coupled with the Group’s resilient credit profile, the Group is in a better position to navigate any asset quality risks.”

Provision of Repayment Relief Assistance

Since March 2020, in support of the Government and Bank Negara Malaysia’s initiatives, the Group has been constantly providing relief assistance to customers who faced financial difficulties amid this unprecedented crisis.

During the first wave of the COVID-19 pandemic in 2020, the Public Bank Group provided a six-month automatic loan moratorium to relieve customers’ repayment difficulty. As the six-month moratorium expired in September 2020, the Group had rolled out various flexible loan repayment assistance packages under the Targeted Repayment Assistance and Expanded Targeted Repayment Assistance programme to assist customers with various financial difficulties. Customers from different income segments, such as the B40 and M40 as well as SMEs and microenterprises have been offered assistance by the Group to help them navigate their current financial challenges.

For SME customers who seek additional funds for their businesses in this difficult time, the Public Bank Group has been proactively promoting various financing schemes initiated by the Government and Bank Negara Malaysia, such as the Special Relief Fund, Micro Enterprises Facility and Targeted Relief and Recovery Facility. These funds are offered at competitive interest rates and flexible tenure, which aim to help these SMEs go through this challenging period.

The Public Bank Group remains mindful of the prevailing headwinds on the repayment capability of its customers and continues to engage its customers to provide further financial assistance to those in need. As at the end of March 2021, the Group’s various financing and repayment assistance had benefitted about 1.8 million customers.

Healthy Capital and Liquidity Position

As at the end of March 2021, the Public Bank Group’s common equity Tier 1 capital ratio, Tier 1 capital ratio and total capital ratio stood at 13.8%, 13.8% and 16.9% respectively.

Tan Sri Teh commented, “Ensuring a stable and healthy capital position remains a key priority to the Public Bank Group. Its capital strength will continue to safeguard the Group from any financial stress caused by the COVID-19 pandemic. The Group continues to manage its capital proactively and ensure adequate capital buffers in pursuit of its organic business growth as well as strategies to cope with the new business normal.”

Tan Sri Teh further added, “As for liquidity management, the Public Bank Group ensures sufficient liquidity buffer is maintained at all times. The Group’s liquidity coverage ratio continued to stand at a healthy level of 128.3% as at the end of March 2021.”

Group’s Prospect

The Malaysian economy is poised to continue on a recovery trajectory, underpinned by continued policy measures and additional stimulus packages as well as the wider rollout of the COVID-19 vaccinations. The less stringent COVID-19 containment measures have reignited domestic economic activities, hence helping to boost business and consumer sentiments. Furthermore, monetary policy remains accommodative in support of a sustainable economic recovery.  

Tan Sri Teh commented, “With improved operating environment, the banking industry is expected to achieve better performance in 2021. Nevertheless, the Public Bank Group is mindful of ongoing downside risks that could pose further disruptions to the banking business. Thus, strategic business direction, prudent risk management practices and cost efficiency measures will remain on the Group’s business agenda so that the Group can continue to withstand uncertainties and respond appropriately to any changes.”

“While the Public Bank Group remains cautiously optimistic about the economic outlook, it will continue to strive hard for business growth in its core business segments in order to continue generating value for its stakeholders,” Tan Sri Teh concluded.

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

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A 50% Cash Back Awaits Public Islamic Bank Credit Cards-i Cardmembers
FOR IMMEDIATE RELEASE
 
1 April 2021

A 50% Cash Back Awaits Public Islamic Bank Credit Cards-i Cardmembers

Public Islamic Bank is offering New-to-Bank Cardmembers of the Visa and Mastercard Platinum/Gold Credit Cards-i 50% Cash Back for their first online and grocery transactions using these cards.
 
As part of the Bank’s effort to offer more value to Cardmembers with the latest benefits and features, these newly launched cards are Shariah-compliant under Ujrah concept that complement the lifestyle of today’s Malaysian discerning consumers.
 
En. Syamsul Azuan, CEO of Public Islamic Bank Berhad said, “The Public Islamic Bank Credit Cards-i is part of our initiative to provide a wider range of Shariah-compliant banking products and services to meet the ever changing needs of our customers, both Muslim and non-Muslim.”

Adapting the minimalism concept, the cards have very distinctive “wau” design and other than the interesting design, it also offers cash back features.

For Public Islamic Bank Visa Credit Cards-i, it offers up to 4% Cash Back on online and overseas transactions while Public Islamic Banks Mastercard Credit Cards-i gives up to 4% Cash Back on groceries and departmental stores transactions.

Another value-added benefit is the 0% management fee for Flexipay and Balance Transfer for the Cardmembers. Cardmembers will also be donating to a good cause while spending as 0.1% of the total dining transactions amount will be donated to Yayasan Waqaf by the Bank.

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 www.pbebank.com or Public Islamic Bank’s website at www.publicislamicbank.com.my or call PB Customer Service at 03-2176 8000. Terms and conditions apply.

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Public Bank Group Posted Net Profit Of RM4.87 Billion For 2020 And Declared A Total Dividend Payout Of RM2.52 Billion

For Immediate Release

25 February 2021


Public Bank Group Posted Net Profit Of RM4.87 Billion For 2020 And Declared A Total Dividend Payout Of RM2.52 Billion
 

Highlights on Financial Performance
 
For the financial year 2020, the Public Bank Group posted pre-tax profit and net profit attributable to shareholders of RM6.29 billion and RM4.87 billion respectively, both lower by 11.9% and 11.6% as compared to 2019. The lower profit in 2020 was mainly attributable to the net interest margin compression arising from the 125 basis points Overnight Policy Rate (“OPR”) reductions during the year, and the one-off net modification loss of RM498 million incurred due to the COVID-19 relief measures offered to individuals and businesses.  
 
Tan Sri Dato’ Sri Dr. Teh Hong Piow, the Founder, Chairman Emeritus, Director and Adviser of Public Bank, said, “2020 was a year full of unprecedented challenges. The onset of COVID-19 pandemic inflicted significant economic disruptions and uncertainties. Coupled with several OPR reductions during the year, it had placed further pressure on the banking sector. Against this backdrop, the Public Bank Group was still able to show steady performance and sustain its profitability.”
 
Operating profit before loan loss allowances recorded a growth of 1.6% to RM7.40 billion, as compared to RM7.28 billion a year ago. This was mainly attributed to steady loan and deposit growth as well as a commendable growth in fee-based revenue. The overall net profit was however adversely affected by the higher provisions set aside in anticipation of the COVID-19 pandemic effect, on top of the one-off net modification loss incurred in respect of the COVID-19 related relief measures.
 
Tan Sri Teh added, “Once again, the Public Bank Group’s business model demonstrated strength and resilience during this challenging time. This was supported by disciplined execution of the strategic priorities, along with prudent risk management practices. The Group continued to maintain its resilient fundamentals in 2020, delivering net return on equity of 11.2% whilst sustaining its low gross impaired loan ratio of 0.4% as well as efficient cost-to-income ratio of 34.6%.”
 
In view of the sustained profit performance, Tan Sri Teh announced, “The Board of Directors is pleased to declare a dividend of 13 sen per share, which amounted to a total dividend payout of RM2.52 billion, representing 51.8% payout of the Group’s net profit for 2020. Despite facing various challenges in 2020, the Group’s continued dividend payout during this difficult time reflects its appreciation of shareholders’ support.”
 
The dividend will be paid on 22 March 2021, based on the dividend entitlement date of 12 March 2021.
 
Steady Growth in Loans and Deposits
 
“During this challenging time, the Public Bank Group continued its growth traction in its lending and deposit-taking businesses,” said Tan Sri Teh.
 
For 2020, the Group recorded 4.6% growth in total loans, supported by residential property financing, passenger vehicle financing and SME financing. Domestically, total loans grew by 5.4%, higher than the banking industry’s loan growth of 3.4%.
 
On deposit-taking, the Group’s total customer deposits achieved a 3.5% growth, while domestic deposits registered a growth of 3.8%. In particular, the Group’s low cost demand and savings deposits recorded a strong growth of 18.9% during the year.
 
Commendable Growth in Non-interest Income
 
Non-interest income recorded a commendable growth in 2020, increasing by 17.5% as compared to 2019, mainly due to stronger growth achieved in the Group’s unit trust business, investment income as well as stockbroking income.
 
Tan Sri Teh added, “The Public Bank Group’s unit trust business, undertaken by its wholly-owned subsidiary, Public Mutual, remained the main contributor to the Group’s total non-interest income. For the year 2020, Public Mutual registered a 10.5% increase in pre-tax profit to RM714.8 million. It continued to capture a retail market share of 33.4% and managed a total of 164 unit trust funds. Total net asset value of its funds under management increased by 15.8% during the year, surpassing the RM100 billion mark for the first time, to RM100.3 billion as at the end of 2020.”
 
Prudent Cost Management
 
Tan Sri Teh highlighted, “Amid the current economic environment and challenging revenue growth, the Group continues to maintain cost discipline and high productivity to help sustain its earnings. The Group continues to stand out amongst its peers in terms of cost efficiency. In 2020, the Group’s cost-to-income ratio remained at an efficient level of 34.6%, significantly better than the domestic banking industry’s cost-to-income ratio of 42.8%.”
 
Sustaining Resilient Asset Quality
 
As at the end of 2020, the Public Bank Group’s gross impaired loan ratio stood at 0.4% and remained well below the banking industry’s gross impaired loan ratio of 1.6%.
 
With the pre-emptive provisions set aside in anticipation of the COVID-19 effect, the Group’s loan loss coverage ratio increased further to 227.7% as compared to the banking industry’s loan loss coverage of 107.5%. Including the RM1.2 billion regulatory reserves that has been set aside, its total reserves for loan losses was higher at 325.1%.
 
Tan Sri Teh commented, “The COVID-19 pandemic continues to pose a downside risk on asset quality. However, with the various government relief and stimulus measures, the impact will be less severe. These relief measures, including the targeted repayment assistance programme, coupled with the Group’s solid foundation, alongside its prudent lending policy and strong credit risk profile, will enable the Group to weather the asset quality challenges.”
 
Managing Impact of COVID-19
 
In the fourth quarter of 2020, the Public Bank Group continued to extend its financial assistance to its customers. In addition to the targeted repayment assistance for customers who have encountered loss or reduction in income due to the COVID-19 pandemic, an expanded targeted repayment assistance for individuals and microenterprises has been implemented with effect from December 2020.
 
Tan Sri Teh said, “The targeted repayment assistance programme consists of various flexible repayment packages that suit varying customers’ financial needs, including individuals, SMEs and corporate customers.”
 
Tan Sri Teh added, “Further, the Group has continued to leverage on the various special financing schemes initiated by the Government and Bank Negara Malaysia to assist SMEs to overcome their financial difficulties. As at the end of 2020, the Group approved more than RM3 billion for over 15,000 businesses under such financial assistance programmes.” 
 
Tan Sri Teh further added, “The Group’s loan moratorium, and various loan repayment assistance programmes, along with the various special financing schemes in which the Group participates actively, have benefitted about 1.8 million customers during these trying times”. 
 
Healthy Capital and Liquidity Position
 
Ensuring healthy capital and liquidity position remain one of the key priorities of the Public Bank Group, particularly under the current challenging time. As at the end of 2020, the Public Bank Group’s common equity Tier 1 capital ratio, Tier 1 capital ratio and total capital ratio stood at 14.0%, 14.0% and 17.1% respectively.
 
Tan Sri Teh commented, “The Public Bank Group’s resilient capital position is a testament to its vigilant approach in capital management to ensure adequate capital buffers in pursuit of business growth and delivery of an optimum return to its shareholders, while meeting regulatory requirements.”
 
Tan Sri Teh further added, “As for liquidity management, the Public Bank Group has been focusing on its well-diversified funding and liquidity profile to maintain a healthy liquidity position. The Group’s liquidity coverage ratio continued to stand at a healthy level of 138.0% as at the end of 2020.”
 
Group’s Prospect
 
After falling into a contraction in 2020 due to economic disruption caused by the COVID-19 outbreak, the Malaysian economy is expected to rebound gradually in 2021. Fiscal measures by the Government and Bank Negara Malaysia’s accommodative monetary policy will continue to drive the country’s economic recovery. The roll-out of the COVID-19 vaccine is also likely to provide support in reviving the economy. The outlook, however, remains uncertain hinging on the development and containment of the pandemic.
 
Tan Sri Teh concluded, “Amid the prevailing economic conditions, the Public Bank Group will remain vigilant and agile in balancing growth with risks. As the Group focuses on organic growth strategy in retail and commercial banking, it will continue to strengthen its resilient business model and core competencies, including its superior asset quality, efficient cost management and customer service excellence. Holding on to its tradition of prudent risk management and strong corporate governance, the Group remains steadfast in its unwavering commitment to safeguarding the interest of all its stakeholders.”  

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

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Public Islamic Bank Partners with KPower Berhad for Installation and Financing of Solar Photovoltaic Systems in Conjunction with Net Energy Metering 3.0
FOR IMMEDIATE RELEASE

27 January 2021

Public Islamic Bank Partners with KPower Berhad for Installation and Financing of Solar Photovoltaic Systems in Conjunction with Net Energy Metering 3.0
 
Public Islamic Bank Berhad (PIBB) has entered into a Memorandum of Agreement (MOA) with KPower Berhad (KPower) for installation and financing of solar photovoltaic (PV) systems.
 
With the recently announced Net Energy Metering 3.0 (NEM 3.0) by the Energy and Natural Resources Ministry, PIBB, via its financing scheme launched on 11 November 2020 will cater for the rising customer demands for solar panel financing.
 
NEM 3.0 was announced on 29 December 2020 and a total of 500 MW quota shall be allocated for the period starting 2021 until 2023, whichever comes first.
 
KPower, via its wholly-owned subsidiary, KPower Engineering Sdn Bhd, will perform the installation works and provide all related technical matters with regards to the solar photovoltaic systems to PIBB customers.
 
The NEM scheme, which falls under the purview of Sustainable Energy Development Authority (SEDA), provides the avenue for electricity users to install solar PV systems on the roofs of their respective buildings for electricity cost savings. The scheme also encourages the public at large to play an active role in mitigating climate change where clean energy can be generated for private consumptions.
 
This financing package is also part of PIBB’s effort to contribute positively to the society’s well-being via the Value Based Intermediation (VBI), with the intention to realise the objectives of Shariah principles to generate positive and sustainable impact to the economy, community and environment.
 
PIBB is also looking into offering this financing package to commercial sector in the near future as it is expected to produce positive impact to the environment from sustainability perspectives as well as contribute to cost savings for participating companies.
 
For further details, customers may visit any of PBB/PIBB branches, log on to PIBB’s website at www.publicislamicbank.com.my or call the toll-free number at 1-800-22-7777 during normal working hours. Terms and conditions apply.
 
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Public Bank Offers Exquisite Limited Edition Gifts and e-Ang Pow Cash Back with the PB Golden Fortune Campaign and e-Ang Pow DuitNow Campaign
FOR IMMEDIATE RELEASE
 
26 January 2021
 
Public Bank Offers Exquisite Limited Edition Gifts and e-Ang Pow Cash Back with the PB Golden Fortune Campaign and e-Ang Pow DuitNow Campaign

In conjunction with the upcoming Chinese New Year Celebration, Public Bank is pleased to launch the “PB Golden Fortune 2021 Campaign” from 1 January 2021 to 31 March 2021 and “e-Ang Pow DuitNow Campaign” from 11 February 2021 to 26 February 2021 to bring cheer to our customers during this challenging time caused by the pandemic.

PB Golden Fortune, brings you Prosperity with Exquisite Gift

Two exquisite limited edition auspicious gifts consisting of “24K Gold-Plated Bull of Amazing Glory” and “24K Gold-Foiled Golden Circle of Wealth” will be offered under the “PB Golden Fortune 2021 Campaign” which is open to all new and existing individual Public Bank customers. Each gift represents an excellent piece of gold craft that symbolizes prosperity and success and are only available on a first-come, first-served basis, while stock lasts.

There are two plans i.e. PB Golden Plan and PB Fortune Plan for customer’s selection. Customers can participate in the Campaign with the purchase of Unit Trust Funds (UT) or insurance products bundled with deposit in selected Current / Savings Accounts in order to get the exclusive gift(s). PB Golden Plan offers one “24K Gold-Foiled Golden Circle of Wealth” and PB Fortune Plan comes with one “24K Gold-Plated Bull of Amazing Glory”.

PB Golden Fortune 2021 Campaign is designed for customers who are looking for a diversified investment portfolio in the current low interest rate environment in achieving their financial goals. Customers can choose from a vast selection of UT that cater to various investment strategies and risk tolerance levels in accordance with their risk appetite in order to achieve their financial goals.

Customer can also invest in Single Premium Investment-Linked Insurance Plan that provides insurance coverage upon death or Total and Permanent Disability (TPD) and investment returns. We are aware that the Covid-19 pandemic has heightened customers’ awareness for the need for insurance protection and thus we want to offer customers additional benefit during these challenging times.
 
Customer can select the PB Golden Plan or PB Fortune Plan to be rewarded with the limited edition auspicious gift or collect both designs by signing up for multiple plans.
 
e-Ang Pow DuitNow Campaign
 
In view of the new norm caused by the pandemic and the need for physical distancing, the general public are encouraged to use electronic red packets or e-Ang Pow for the coming Lunar New Year.
 
Public Bank will be launching the e-Ang Pow DuitNow Campaign. Customer can send an e-Ang Pow using DuitNow to their family and friends using PB engage mobile app from as low as RM10.
 
Once customers' DuitNow transaction is successful on PB engage, they can then shake the Prosperity Tree for a chance to win an Ang Pow containing a cashback prize. The more e-Ang Pows sent, the higher the chance for customers to win more cashback. Customer can use the DuitNow to send e-Ang Pow to any bank account nationwide.
 
To find out more about Public Bank campaigns, customers are welcomed to visit any of our PBB branches, log on to PBB website at www.pbebank.com or call our toll free phone at 1-800-22-9999 during normal working hours. Terms and conditions apply.

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Information about the Golden Fortune 2021 campaign

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The 24K Gold-Plated Bull of Amazing Glory which will be offered under the PB Golden Fortune 2021 Campaign

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The 24K Gold-Foiled Golden Circle of Wealth which will be offered under the PB Golden Fortune 2021 Campaign

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Information about the e-Ang Pow Campaign

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Public Bank Offers Loan Repayment Relief For Customers Affected By Floods
FOR IMMEDIATE RELEASE

11 January 2021

Public Bank Offers Loan Repayment Relief For Customers Affected By Floods

Public Bank is offering repayment relief for loan and financing customers who have been affected by the recent floods in several states in Malaysia.

The repayment relief, effective on 11 January 2021 includes:
  1. Deferment of monthly instalment for loan and financing of up to 6 months, on a request basis. The repayment relief is applicable to loan and financing facilities such as house financing, hire purchase and credit cards for individual customers, as well as SME loan and financing for affected local businesses.
  2. Waiver of charges on the replacement of banking related documents, such as bank cards, passbooks and cheque books that have been destroyed or lost in the floods.
  3. Collaborating with Lonpac Insurance Bhd in facilitating and expediting claims to be made by the affected customers on losses covered by insurance policies underwritten by Lonpac.

Public Bank Managing Director, Tan Sri Dato’ Sri Tay Ah Lek said, “Public Bank stands ready to support the needs of customers who have been affected by the massive floods. The repayment relief would alleviate their financial burden and help in restoring their livelihood. Customers who need the repayment relief are advised to contact Public Bank for more information.”

Customers who require the repayment relief may visit the nearest Public Bank branch or contact the Bank’s toll-free number at 1800 22 5555. For insurance claims related matters, affected customers can contact Lonpac at 03-2262 8688.

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Statement by the Public Bank Group
FOR IMMEDIATE RELEASE
 

9 December 2020
Statement by the Public Bank Group
 
It has come to the Public Bank Group’s attention of a news article pertaining to an agreement between Datuk Phan Ying Tong and some parties to establish a new bank in Cambodia, which the name of Public Bank Berhad has been mentioned. We wish to clarify that the Public Bank Group has no involvement at all in the said joint venture.
 
The Public Bank Group wishes to further clarify that Datuk Phan Ying Tong had resigned from all his positions within the Public Bank Group and is no longer the Regional Head of Public Bank’s Indo-China Operations. Following Datuk Phan’s resignation, he is no longer authorised to represent the Public Bank Group in any matters.
 
Any latest information of the Public Bank Group would be made available in its website www.publicbankgroup.com

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Public Bank Group Posted Pre-Tax Profit Of RM4.81 Billion For The Nine Months Ended September 2020
FOR IMMEDIATE RELEASE
 
27 November 2020

Public Bank Group Posted Pre-Tax Profit Of RM4.81 Billion For The Nine Months Ended September 2020
 
Highlights on Financial Performance
 
For the third quarter ended September 2020, the Public Bank Group’s pre-tax profit and net profit attributable to shareholders grew by 2.3% and 2.2% respectively, as compared to the corresponding quarter in 2019.
 
As for the first nine months of 2020, the Public Bank Group posted pre-tax profit of RM4.81 billion, 9.4% lower as compared to the corresponding period in 2019. Net profit attributable to shareholders stood at RM3.72 billion, 9.3% lower than the first nine months in 2019. This was mainly due to the moderating revenue growth arising from the COVID-19 pandemic, the effect of the Overnight Policy Rate (“OPR”) reduction during the year, as well as the one-off net modification loss of RM498 million incurred in the second quarter due to the COVID-19 relief measures offered to individuals and businesses.
 
Tan Sri Dato’ Sri Dr. Teh Hong Piow, the Founder, Chairman Emeritus, Director and Adviser of Public Bank, said, “The COVID-19 pandemic continued to pose significant uncertainties to the economic landscape and the business environment on all fronts. Further, a total of 125 basis points cut in the OPR this year and the higher provisions set aside in anticipation of the COVID-19 pandemic effect had continued to weigh on profitability.”
 
Tan Sri Teh added, “However, as the economy gradually reopened and supported by the various government relief and stimulus measures, the economic environment in the third quarter of 2020 had shown an improvement. The Public Bank Group recorded higher loan growth in the third quarter as compared to the earlier quarters. Total loans grew by an annualised rate of 4.8% in the first nine months of 2020. Domestic loans grew by an annualised rate of 5.6%, which was higher than the domestic banking industry’s annualised loan growth of 4.0%. On funding side, the Group posted annualised growth rate of 3.9% in both total deposits and domestic deposits.”
 
Non-interest income continued to support the Group’s financial performance, with 17.8% growth in the first nine months of 2020, mainly driven by higher investment income, as well as higher income from unit trust and stockbroking businesses.
 
Public Mutual, the Public Bank Group’s wholly-owned subsidiary, remained the main contributor to the Group’s non-interest income. As at end-September 2020, Public Mutual managed a total of 162 unit trust funds, with its total net asset value increasing from RM86.6 billion as at end-2019 to RM94.1 billion as at 30 September 2020. Public Mutual also remained as the market leader in the retail private unit trust industry, with a market share of 32.9%.
 
Tan Sri Teh highlighted, “Despite the various challenges faced in 2020, the Group recorded a resilient net return on equity of 11.3% in the first nine months of 2020. Cost-to-income ratio stood at 35.2%, as compared to the domestic banking industry’s cost-to-income ratio of 44.7%.”
 
Tan Sri Teh added, “Meanwhile, impaired loan ratio remained low at 0.3%, which was significantly better than the domestic banking industry’s impaired loan ratio of 1.4%. In addition, the Group maintained a high loan loss reserves of 209.1%. Including the RM1.7 billion regulatory reserves that the Group had set aside, total reserves for loan losses were even higher at 362.0%.”
 
Managing Impact of COVID-19
 
Tan Sri Teh highlighted, “While the difficult economic condition has continued to pose risks to asset quality, the Public Bank Group has remained in a good position to navigate the challenge. The Group’s resilient loan portfolio, prudent lending practices and strong credit risk profile have laid a solid foundation for the Group to manage any potential stress on asset quality. In addition to the various financial relief measures by the Government and Bank Negara Malaysia, the Group has also been taking pre-emptive initiatives in reaching out to customers who may need further financial assistance, and this will further mitigate any downside pressure to the Group’s asset quality.”
 
While the Group remains extra vigilant to sustain its business stability amid the highly uncertain environment, it has continued to extend its financial assistance to the customers.
 
In the third quarter of 2020, the Group continued to provide loan and financing moratorium to individuals and business enterprises. After the moratorium period ended on 30 September 2020, the Group has continued to proactively engage its customers to provide further financial assistance.
 
Tan Sri Teh said, “The Public Bank Group has been actively implementing post-moratorium loan repayment assistance programme for customers who have encountered loss or reduction in income due to the COVID-19 pandemic. The programme consists of various repayment packages which suit varying customers’ financial conditions. To ensure customer awareness and convenience in seeking further assistance, the Group has carried out various activities and facilities, such as weekend Repayment Assistance Clinic, digital application platform, virtual roadshow, as well as SMS and email blast through its extensive communication channels.”
 
Tan Sri Teh added, “Additionally, the Group has continued to be an active participating financial institution offering various Government and Bank Negara Malaysia’s special financing schemes to the small and medium enterprises (“SMEs”) which are affected by the COVID-19 pandemic. These include Bank Negara Malaysia’s Special Relief Facility, PENJANA SME Financing Scheme, PENJANA Tourism Financing Scheme, Government Guarantee Scheme, Bank Negara Malaysia’s SME All Economic Sectors Facility, SME Automation and Digitalisation Facility, Agrofood Facility and Micro Enterprises Facility. The Group has approved more than RM3 billion financing to about 14,000 businesses under such special financing schemes.”
 
Tan Sri Teh further added, “During this challenging period, the Public Bank Group’s active participation in all the various financial relief measures, including loan moratorium, loan restructuring and rescheduling and special financing schemes, has benefitted more than 1.8 million customers.”
 
Healthy Capital and Liquidity Position
 
Tan Sri Teh said, “As always, the Public Bank Group has been highly vigilant in its capital and liquidity management to ensure its capital strength and balance sheet remain resilient throughout this unprecedented difficult period.” As at the end of September 2020, the Public Bank Group’s capital position was standing strong, with its Common Equity Tier 1 Capital Ratio, Tier 1 Capital Ratio and Total Capital Ratio at 13.6%, 13.7% and 16.8% respectively. The Group’s liquidity coverage ratio also remained healthy at 159.0%.
 
Group’s Prospect
 
The global economic growth is set to contract this year due to the wide-ranging and severe impact arising from the COVID-19 pandemic on economic activities and social movements. On the domestic front, while the Malaysian economy is expected to be on the negative trajectory for the whole of 2020, gradual economic recovery and the significant support measures by the Government and Bank Negara Malaysia will continue to cushion the adverse impact of the pandemic. However, the resurgence of COVID-19 among the community has remained a concern.
 
 
Tan Sri Teh said, “In line with the concerted efforts by the Government and Bank Negara Malaysia to provide financial relief to individuals and businesses and spur the country’s economy, the Public Bank Group will continue to take a proactive and accommodative stance in the provision of assistance to its customers.”
 
Tan Sri Teh concluded, “Against this unprecedented challenging environment, the Group has been managing well in safeguarding its bottom line. As the outlook remains highly uncertain, the Group will continue to focus and be extra vigilant to ensure prudent credit policies, robust risk management, cost efficiency and good corporate governance. As the Group embraces challenges with these strong core competencies, the Group will also remain agile and leverage on the opportunities arising from the shift in customer demand and needs during this challenging time.”
 
27112020_selected-for-3rd-Q-result-KNH_188_Edit.jpg
Y.Bhg. Tan Sri Dato' Sri Dr. Teh Hong Piow
Founder, Chairman Emeritus, Director and Adviser of Public Bank
 
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Public Islamic Bank Launched Solar Panel Financing for Residential Houses
FOR IMMEDIATE RELEASE
 
16 November 2020
 
Public Islamic Bank Launched Solar Panel Financing for Residential Houses

Public Islamic Bank Berhad (PIBB) launched the Solar Panel Financing for residential houses aimed exclusively for existing PIBB and Public Bank Berhad (PBB) house financing customers, beginning from 12 November 2020 to 31 December 2021.

This financing package is part of the PIBB’s effort to contribute positively to the society’s well-being via the Value Based Intermediation (VBI).

VBI aimed to align Islamic finance business models towards realising the objectives of Shariah principles to generate positive and sustainable impact to the economy, community and environment.

The financing rate is from Base Rate (BR) +2.00% per annum (currently BR is at 2.27% p.a. with effect from 10 July 2020) with tenure up to 10 years.

Apart from protecting the environment with electricity generated from sustainable sources, customers will also save money due to lower or zero electricity bills, depending on usage.  

This campaign also supported the government’s initiative to encourage Malaysia’s renewable energy uptake where the solar panel will operate under schemes from Sustainable Energy Development Authority (SEDA) including Net Energy Metering (NEM) and Self-Consumption (SELCO). Customers may choose their preferred solar company from the Bank’s list of solar company partners.  

PIBB is also looking into offering this financing to commercial sector in the near future as it is expected to produce positive impact to the environment from sustainability perspectives as well as  contribute to cost savings for participating companies.

For further details, customers may visit any of PBB/PIBB’s branches, log on to PIBB’s website at www.publicislamicbank.com.my or call the toll-free number at 1-800-22-5555 during normal working hours. Terms and conditions apply.
 
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