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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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Comments On The Budget 2021
For Immediate Release
 
6 November 2020

Comments On The Budget 2021
 
We commend the Government in formulating Budget 2021 which leaves no one behind. With an immediate focus on protecting livelihoods while also supporting and revitalising businesses, we are confident that the measures announced will help see Malaysia’s economic growth well on the road to a sustained recovery.
 
We are fully supportive of the Government’s moves in ensuring the truly deserving, especially the B40 and unemployed, are fully taken care of, either through specific initiatives or targeted assistance. We applaud the Government’s finger on the pulse of the nation in meeting the needs of the day through increasing the quantum of personal and corporate financial assistances and the expanding of various subsidy and financing schemes.
 
During this trying time, Public Bank will continue to actively engage and assist customers by providing further assistance required under the expanded targeted repayment assistance programme.
 
Public Bank will continue to be fully supportive of the Government’s measures by facilitating continued access to financing, particularly business financing for the small and medium enterprises. In addition, we will continue to support financing for affordable housing, in line with the Government’s efforts to promote home ownership among Malaysians. 
 
The strengthening of various industries by the Government, the continuation of ongoing infrastructure projects and the many incentives to encourage private sector investments will contribute to the broad-based recovery and economic growth expected in 2021.
 
We will continue to effectively facilitate the Government’s Budget 2021 themes of caring for the people, steering the economy and enabling sustainable living. Unprecedented times call for extraordinary measures and collective effort, a call by the Government which we are in full support of.
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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 Bank Remains Committed to Provide Targeted Repayment Assistance After 30 September 2020
For Immediate Release
 
21 October 2020

Public Bank Remains Committed to Provide Targeted Repayment Assistance After 30 September 2020
 
With the resurgence of COVID-19 and several areas falling under Conditional Movement Control Order (CMCO) and Enhanced Movement Control Order (EMCO) such as Kuala Lumpur, Selangor, Putrajaya, Sabah and Labuan, Public Bank reassures customers that its commitment and provision of repayment assistance will continue nationwide.
 
Public Bank Managing Director and Chief Executive Officer, Tan Sri Dato’ Sri Tay Ah Lek said today, “Public Bank remains fully committed to provide assistance for customers who need financial help under the prevailing challenges resulted from the unprecedented pandemic. In addition to the rescheduling of repayment plan for customers who encounter a reduction in income, all applications by customers who are unemployed arising from the pandemic have been granted a further 3-month extension of loan moratorium.”
 
With earlier 6-month loan moratorium ended on 30 September 2020, Public Bank continued its commitment to provide assistance to customers who face financial constraints and actively engage them to provide further financial assistance.
 
Public Bank’s loan repayment assistance programme consists of various flexible packages which are catered for the varying needs of individual customers and business enterprises. Since the commencement of targeted repayment assistance, Public Bank has to date approved more than 90,000 applications, accounting for almost 100% of total applications received from customers. Of these approved cases, about 28% of applications have been granted extension of 3-month loan moratorium due to the unemployment caused by the pandemic.
 
Tan Sri Tay added, “For the general public and customers, Public Bank assures continued banking services remain accessible throughout the movement control period. Our branches and online banking platforms will also remain operational to meet customers’ banking needs.”
 
The Bank is fully committed and remains accommodative to repayment assistance applications and customers may continue to contact the Bank via email or telephone. Alternatively, customers may submit their applications via Public Bank’s digital platform. For further information, customers may visit the Bank’s website at https://apply.pbebank.com/pbrnr/.
 
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Thorough Disinfection Following Confirmed COVID-19 Case in Menara Public Bank
FOR IMMEDIATE RELEASE
 

13 October 2020
Thorough Disinfection Following Confirmed COVID-19 Case in Menara Public Bank
 
Public Bank confirms that one of its staff at Menara Public Bank, Jalan Ampang, Kuala Lumpur, has been tested positive for COVID-19 on 12 October 2020.  The said staff had not reported to work since 10 October 2020.

Deep cleansing and thorough sanitisation activities have been carried out immediately on the affected floors in accordance with Kementerian Kesihatan Malaysia guidelines. As an added precaution, the Bank has also deeply cleansed and sanitised all common areas. Disinfection will also be carried out in the entire building.

All employees who had come into close contact with that affected staff had been placed on home-quarantine and tested for COVID-19 at the Bank’s appointed private hospital.

Public Bank’s Management is continuously enhancing the staff safety measures to contain any potential risks. All staff have been advised to practise self-hygiene and adhere closely to the Standard Operating Procedures issued by Ministry of Health, as well as the provisions of Conditional Movement Control Order.   
 
The safety and wellbeing of every staff is Public Bank’s top priority. Public Bank is also taking all necessary precautionary measures to ensure the health and safety of its staff and customers in the Bank’s premises.
 
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Public Bank Founder Bags Promoting
For Immediate Release
 
24 September 2020
Public Bank Founder Bags Promoting “Excellence at Work” Award from Vietnam
 
Public Bank Founder, Chairman Emeritus, Director and Adviser Tan Sri Dato’ Sri Dr. Teh Hong Piow has added another feather to his cap with his latest award, the “Outstanding Contribution in Promoting “Excellence at Work” and in Strengthening Trade Union in 2019” award by the Vietnam Banking Trade Union.
 
This latest personal-to-holder award is in recognition of Tan Sri Teh’s extraordinary contribution towards establishing and sustaining a strong corporate culture and promoting the well-beings of all employees of Public Bank Vietnam Limited (PBVN).
 
In his speech at the award presentation ceremony at Shangri-La Hotel Kuala Lumpur on 22 September 2020, Managing Director Tan Sri Dato’ Sri Tay Ah Lek said it is a proud moment for all in Public Bank as they feel an equal sense of achievement and pride in Tan Sri Chairman Emeritus’ personal triumph.
 
“Tan Sri Chairman Emeritus has always believed that the respect and influence of the Group depends on the virtues and standards that the Group is able to develop and maintain. To ensure the Group’s corporate longevity, Tan Sri Chairman Emeritus has been unwavering in imbibing us with our core corporate values of integrity, competence and professionalism, hard work and prudence,” he said.
 
This is the first time the Vietnam Banking Trade Union has honoured a non-resident of Vietnam and with the recognition certificate signed by His Excellency Mr. Dao Minh Tu, Deputy Governor of the State Bank of Vietnam, who is also the Chairman of the Executive Board of Vietnam Banking Trade Union.
 
In acknowledging the award, Tan Sri Teh said, “Entrepreneurship is tough business. Hence it is important that I make it my priority to develop talents who understands the business and is serious to excel. Just like a gardener providing water and other nourishment to our staff.”
 
He added, “But to get to where we are, to be recognised as a committed employer to the well-being and talent development of our employees, one needs to shoulder the responsibility of keeping the staff in mind in every decision you make.
 
“Every day, when our staff come to work, they live by our corporate values and code of ethics as they know how much I believe in core values like integrity, hard work, commitment and a sense of professionalism,” Tan Sri Teh added.
 
The recognition award which was presented to him on 22 September 2020, comes with a Crystal Trophy and a token sum of Vietnamese Dong (VND) 750,000 as a reward in accordance with the prevailing regulations of the Vietnam Banking Trade Union.
 
Dedicating the award to “the committed staff of Public Bank,” he said: “Nothing stops them from doing what is best for our stakeholders. They are the unsung heroes who have stood the test of time with me, weathering financial storms and economic turmoil, to come out unscathed while creating milestones that are enviable to many.”
 
To date, Public Bank has amassed more than 600 corporate awards of excellence and distinction, while Tan Sri Teh has accumulated more than 50 personal-to-holder awards of lifetime achievements and exemplary leadership.
 
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Public Bank Founder, Chairman Emeritus, Director and Adviser Tan Sri Dato’ Sri Dr. Teh Hong Piow (centre)
with Managing Director Tan Sri Dato’ Sri Tay Ah Lek (left) and Independent Non-Executive Chairman Mr. Lai Wan (right) with the award by the Vietnam Banking Trade Union.

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FinCEN Database Leak
For Immediate Release
 
22 September 2020
FinCEN Database Leak
 
We refer to the recent news item on the US Treasury Department's Financial Crimes Enforcement Network (FinCEN) leaks concerning numerous banks and where our Bank was mentioned.
 
Public Bank views seriously the need to combat financial crimes and to comply with all applicable legal, regulatory and supervisory requirements to safeguard against threats to its customers and the banking system.
 
We have always adopted a zero tolerance approach towards money laundering and terrorism financing.
 
Monitoring and reporting of suspicious transactions are part of obligation under AML/CFT frameworks. Public Bank is subjected to strict arrangements in protecting the confidentiality and security of suspicious transaction reporting within secured IT system environment and information controls.
 
We have invested substantially in our systems capabilities to detect and report suspicious transactions to the authorities and have allocated significant resources to strengthening and maintaining our internal controls towards this purpose. 
 
We remain committed in the efforts to combat financial crimes and will cooperate with the authorities to maintain the integrity of the financial system.
 
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Public Bank Clinched 8 of Malaysian e-Payments Excellence Awards 2020
For Immediate Release
 
17 September 2020
Public Bank Clinched 8 of Malaysian e-Payments Excellence Awards 2020

Public Bank Berhad (PBB) has emerged as the biggest winner for the Malaysian e-Payments Excellence Awards (MEEA) 2020 by clinching eight awards for its outstanding contribution towards the growth of Malaysia’s e-payment ecosystem.
 
The MEEA is organised annually by Payments Network Malaysia Sdn Bhd (PayNet), the nation’s network and shared central infrastructure for Malaysia’s financial markets, to recognise outstanding achievements of banks, businesses and government agencies that have contributed significantly towards excellence, innovation and growth in electronic payments in Malaysia.
 
The eight awards that PBB won were: Best e-Payment Bank, Best IBG Bank, Best Customer Experience (FPX), Best JomPAY Bank, Best MyDebit Bank, Top JomPAY Acquirer, Top MyDebit Acquirer and Outstanding Contribution to MyDebit.
 
The awards recognise PBB’s effort in propelling e-Payments in Malaysia to greater heights which include usage, acceptance, growth, reliability, customer engagement and experience.
 
This is the second time PBB won the Best e-Payment Bank and for the fourth year running, PBB is recognised as the Best MyDebit Bank in Malaysia as well as retaining the award of Outstanding Contribution to MyDebit and MyDebit Top Acquirer Award.
 
PBB is committed and focused in driving e-Payments by providing customers and the public with alternative channels to transact more reliably, securely and efficiently at their convenience as a new norm for the nation to curb the spread of Covid-19 and reduce the physical contact between buyers and traders. 
 
PBB will continue to provide full support to boost the country’s migration to electronic payments by launching more e-Payment initiatives and will continuously enhance its digital banking platform to make e-Payments seamless for everyone.
 
PBB have also launched the Bank’s PBe QR, a simple, secure and seamless way for merchants to accept payment from their customers. Powered by PayNet’s DuitNow QR, the general public can make payment from any participating Banks or e-Wallets mobile apps. Merchants would only need to display the DuitNow QR, to accept payments without having to display multiple proprietary QR codes at payment counters.
 
PBe QR is a game changer as it enables businesses of all categories to accept payments easily at no cost. For a limited period, PBe QR will be offered to registered merchants at zero fees. PBe QR is opened for registration at Public Bank’s official website.
 
The usage of QR codes will reduce cash usage and increase digital financial inclusion for all Malaysians. The technology removes the need for customers to carry cash which liberates both customers and merchants from the risks of carrying cash.
 
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(From Left): Public Bank Card Services and Support's Director, Mr. Tee Chui Chee; Ms. Chan Chiew Peng, Senior General Manager of Retail Financial Services; Dato’ Chang Kat Kiam, Deputy CEO of PBB; Mr. Peter Schiesser, Group CEO of PayNet; Tan Sri Dato' Sri Tay Ah Lek, Chief Executive Officer/Managing Director of PBB; Dato' Sulaiman Manap, Senior Chief Operating Officer of PBB and Ms. Carene Khoo, Director of Wealth Management & Transaction Banking of Public Bank.

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Public Bank to Hold Repayment Assistance Clinics
FOR IMMEDIATE RELEASE
 

11 September 2020
 
Public Bank to Hold Repayment Assistance Clinics

Public Bank will hold Repayment Assistance Clinics (PBB RAC) at major cities and towns nationwide on Saturday and Sunday for six weeks, starting from 19 September 2020.

At the PBB RAC, Public Bank will provide advisory services and application assistance for customers who seek further help after the 6-month loan moratorium ends on 30 September 2020. Participation is through pre-registration. Customers can access to the Public Bank’s website for event details and the pre-registration procedures.

Public Bank Managing Director and Chief Executive Officer, Tan Sri Dato’ Sri      Tay Ah Lek said, “As part of its relief measures, Public Bank has developed repayment assistance packages which suit different customer’s financial conditions. The Bank has also been very proactive in engaging customers about the relief measures in place. In addition to the digital platform which enables customers to submit online application, we are organising the weekend PBB RAC as an additional channel for customers who need further assistance on application. This is also to provide more convenience to customers who are unable to visit our branches during weekdays.”

For customers who wish to submit online applications for rescheduling of their repayment plans, they may continue to apply through Public Bank’s digital platform via the Bank’s website at https://apply.pbebank.com/pbrnr.
 
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Public Islamic Bank “Go Green Campaign” Distinctively for Energy Efficient Vehicle (EEV)
For Immediate Release
 
3 September 2020
 
Public Islamic Bank “Go Green Campaign” Distinctively for Energy Efficient Vehicle (EEV)

Public Islamic Bank Berhad is pleased to participate in Value Based Intermediation (VBI), an initiative from Bank Negara Malaysia by launching our EEV campaign under AITAB Hire Purchase-i Financing. VBI aims to align Islamic finance business models towards realizing the objectives of Shariah to generate positive and sustainable impact to the economy, community and environment.
 
The promotion period of this Campaign is from 1 April 2020 to 31 December 2020. The exclusive financing rate is as low as 2.20% per annum with tenure up to 9 years. This campaign is designed to support local growth and usage of EEVs in Malaysia to reduce carbon emission into our environment. BE SMART, by saving fuel consumption with EEVs while GOING GREEN and saving the earth. This promotion is only applicable to selected new vehicle models.
 
Public Islamic Bank will also be launching a residential solar panel financing program with attractive financing rates to benefit our existing customers. This solar program is expected to produce positive sustainable effect to the environment and contribute towards cost savings for our customers.

For detailed information on this campaign, customers are welcomed to visit any of our Hire Purchase Centres, log on to PIBB website at www.publicislamicbank.com.my or call our toll-free number at 1-800-22-7777 during normal working hours. Terms and conditions apply.
 
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Public Bank Group Posted Pre-Tax Profit Of RM3.01 Billion For The First Half Of 2020

For Immediate Release

28 August 2020

Public Bank Group Posted Pre-Tax Profit Of RM3.01 Billion For The First Half Of 2020
 
Highlights on Financial Performance
 
Tan Sri Dato’ Sri Dr. Teh Hong Piow, the Founder, Chairman Emeritus, Director and Adviser of Public Bank, announced today, “For the first half year ended 30 June 2020, the Public Bank Group recorded pre-tax profit of RM3.01 billion, 15.3% lower as compared to the corresponding period in 2019. Net profit attributable to shareholders decreased by 15.0% to RM2.33 billion.”
 
The decline in profit was mainly attributed to a one-off net modification loss amounting to RM498 million in the second quarter of 2020, arising from the COVID-19 relief measures offered to individuals and businesses. This reflects the Group’s commitment and contribution in supporting and helping its customers to overcome financial difficulties during this challenging time.
 
Excluding the modification loss, the Group’s pre-tax profit and net profit attributable to shareholders declined by 1.2% in the first half of 2020, as compared to the previous corresponding period in 2019.
 
The Group recorded a net return on equity of 10.7% in the first half of 2020. Excluding the one-off modification loss effect, the Group’s net return on equity would have been 12.4%.
 
In addition to the modification loss incurred in respect of the COVID-19 related relief measures, the Group’s profitability was also affected by the compression in net interest margin due to the reductions in Overnight Policy Rate, and higher provisions set aside for the expected increase in impaired loans due to the COVID-19 pandemic. However, the adverse impact on profitability was mitigated by the continued expansion of the Group’s loan and deposit portfolio, and higher non-interest income.
 
Tan Sri Teh added, “In the first half of 2020, the Group registered continued expansion in loans, albeit at a more moderate pace. The Group’s total domestic loans grew at an annualised rate of 2.6%. On deposit-taking, the Group’s total domestic customer deposits posted an annualised growth rate of 3.3%. The Group’s funding position remained stable with a healthy liquidity coverage ratio of 145.7% as at the end of June 2020.”
 
Non-interest income continued to complement the Group’s profitability. In the first half of 2020, the Group’s non-interest income increased by 8.2%, mainly arising from unit trust business, as well as higher investment and brokerage income.
 
In terms of cost efficiency, the Group continued to take the lead in the banking industry. Despite the effect of the modification loss and reductions in Overnight Policy Rate, the Group’s cost-to-income ratio of 37.9% in the first half of 2020 remained significantly better than the domestic banking industry’s cost-to-income ratio of 44.7%.
 
Tan Sri Teh commented, “On asset quality, the Group’s gross impaired loan ratio stood at 0.4% as at end-June 2020, which remained well below the banking industry’s gross impaired loan ratio of 1.5%. The Group’s loan loss coverage ratio remained high at 158.7%. Including the RM1.9 billion regulatory reserves that the Group had set aside, its total reserves for loan losses would be higher at 301.7%.”
 
The unprecedented COVID-19 pandemic will pose a risk to the asset quality of the banking sector. However, the Government’s stimulus packages and Bank Negara Malaysia’s financial and monetary relief measures, including the loan moratorium, will help to mitigate the downside risks. In addition, the Group is proactively engaging its customers to provide further assistance required through restructuring and rescheduling of loans. With all these measures in place, coupled with the Group’s resilient credit profile and prudent lending practices, the potential pressure on the Group’s asset quality is expected to be manageable. 
 
Managing the Impact of the Unprecedented Pandemic Crisis
 
During this current time of challenges, the Public Bank Group continued to play a positive role in the economy and the community.
 
Tan Sri Teh said, “This is an unprecedented crisis. During this challenging period, the Group has been taking various measures aimed at providing support to customers, while continuing to preserve the Group’s bottom line.”
 
In the first half of 2020, the Group’s lending activities continued to focus on providing financing for the purchase of residential properties focusing on owner occupied properties, and lending to the small and medium enterprises (“SMEs”). In particular, the Group had been playing a very proactive role in promoting SME funds initiated by the Government and Bank Negara Malaysia.
 
Tan Sri Teh added, “To alleviate cash flow constraint faced by the SMEs, Bank Negara Malaysia had initiated the Special Relief Facility at a low 3.5% per annum financing rate. As at end-June 2020, the Group had approved more than RM1.7 billion financing to about 8,000 SME customers under the facility. Further, the Group is also a participating financing institution of the PENJANA SME Financing Scheme which is offered at a low financing rate of 3.5% per annum.”
 
In line with the reductions in Overnight Policy Rate, the Group had cut its loan and financing interest rates to pass on the benefits of lower rates to the customers. The Group also tapped on the Government’s initiatives in promoting home ownership such as the Home Ownership Campaign to further spur its house financing business.
 
Since the onset of the crisis, concerns about the banking industry’s asset quality have been on the rise due to customers’ cash flow constraint. Tan Sri Teh highlighted, “While the 6-month loan moratorium has helped to mitigate the impact, higher pressure on asset quality is expected after the loan moratorium ends. The Group is committed to continue providing support to assist customers to weather through the challenging period. The Group will continue to undertake proactive engagement with its customers on financial assistance. For customers who face continued financial stress, the Group has offered loan repayment plans and packages that suit the customers’ financial needs.”
 
On deposits, the Group recognises that the low interest rate regime would have affected the elderly customers’ income. In view of this, the Group has on 1 July 2020 rolled out the PB Journey Golden Savers campaign, offering competitive fixed deposit rates to customers aged 50 years and above. 
 
In addition, preserving sound balance sheet remains a key focus area of the Group. Tan Sri Teh commented, “Amid the significant economic disruption and increasing earnings pressure, the Group has placed greater emphasis on prudent cost management to preserve profitability.” 
 
Healthy Capital and Liquidity Position
 
As at the end of June 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 further strengthened to 14.0%, 14.0% and 17.2% respectively. The Group’s liquidity coverage ratio also stood at a healthy level of 145.7%.
 
Under the current unprecedented and exceptionally challenging environment with high level of uncertainties and significant downside risks weighing on the global economic outlook, the Group regards that careful assessment of dividend plans is crucial. As part of its prudent capital management to conserve capital and further strengthen its capital position, the Board of Directors has decided to reassess its dividend plans at year end upon finalisation of the Group’s full year results. This will ensure the Group to sustain resilient capacity to continue support its stakeholders and the wider economy on future growth path.
 
Tan Sri Teh reiterated, “Its strong capital and liquidity buffer will continue to enable the Group to withstand challenges ahead. The Group will always ensure it remains well-capitalised and well-funded to support its business growth and safeguard the interests of its stakeholders.” 
 
Group’s Prospect
 
The global economy has been severely impacted by the COVID-19 pandemic, with the world GDP expected to slump into negative growth this year. Amid this significant economic disruptions, governments across countries have rolled out various relief measures with the aim to mitigate the adverse impact on the economy. The pace of post pandemic recovery remains uncertain with high level of caution remaining in the economy. 
 
Tan Sri Teh commented, “The current condition poses an exceptional challenge. The Group views positively the significant relief measures implemented by the Government and Bank Negara Malaysia to help the nation to navigate this challenging period. Public Bank is also actively extending its assistance through monetary contribution, loan moratorium, as well as restructuring and rescheduling of loan repayment to lessen the hardship and financial burden of the people affected.”
 
On the Group’s strategy going forward, Tan Sri Teh concluded, “The Group will continue to focus on its organic growth strategy in retail and commercial banking. With the various measures taken to provide financial assistance to SMEs and support home ownership, the Group is of the view that there is still demand for financing. However, as the outlook remains uncertain, the Group will remain cautious and place greater focus on risk management in its pursuit of business growth. In addition, prudent cost management will remain important and the Group will continue to explore ways to further enhance its operational efficiency and productivity.”
 

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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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