For Immediate Release

13 March 2018

Tan Sri Teh Hong Piow Declared As ‘The Greatest Malaysian Banker Of All Time’
 

Public Bank’s Founder and Chairman, Tan Sri Dato’ Sri Dr. Teh Hong Piow has been awarded the ‘The Greatest Malaysian Banker of All Time’ by the Asia Pacific Brands Foundation on 10 March 2018, during the Public Bank Management Seminar Dinner held at the Mines International Exhibition and Convention Centre.
 
Dr. KK Johan, President of the BrandLaureate, presented the award to Tan Sri Teh in the presence of more than 4,000 staff of the Public Bank Group.
 
Dr. KK Johan in his citation speech said, “For the past 50 years, there is no other banker extraordinaire that has steadfastly grown the bank to record breaking feats, positive growth year after year and for 2017, achieved a net profit to RM5.47 billion reached through organic growth and brilliant strategic moves”.
 
“The brilliant mind of Tan Sri Teh Hong Piow has no match and his astounding knowledge of the banking industry puts him ahead of the competition. Without Tan Sri Teh Hong Piow and Public Bank, I daresay that Malaysia’s banking industry and the country’s economy would not be what it is today. He defines banking leadership and with his principles and philosophy has set standards of good banking practices, which is emulated and respected by his peers”, added Dr. KK Johan.

Dr. KK Johan continued, “The APBF has specially crafted a trophy to present to you tonight – a trophy that symbolises your weight in the industry as a banking giant and a trophy that is very elaborate, specially crafted and designed like no other trophies designed before.  A masterpiece only meant for the Great Master Banker. No one has received it before and is worthy of it except the honourable Founder Chairman of Public Bank, Tan Sri Dato’ Sri Teh Hong Piow. This award is meant only for the greatest and the best!”.
 
In applauding Tan Sri Chairman’s latest award, Public Bank Managing Director Tan Sri Dato’ Sri Tay Ah Lek said, “On behalf of the Board of Directors, Management and staff of Public Bank Group, I wish to express our heartiest and heartfelt congratulations to Tan Sri Teh Hong Piow for being bestowed this BrandLaureate ‘The Greatest Malaysian Banker of All Time’ Award tonight”.
 
He said, “Tan Sri Chairman is the mark of an ideal leader whose hopes and dreams for Public Bank knows no bounds. The exemplary leadership of Tan Sri Chairman as ‘The Greatest Malaysian Banker of All Time’ has not only propelled Public Bank to the forefront of the Malaysian financial landscape but has also gained international respect and acclaim”.
 
“Tan Sri Chairman has contextual intelligence, a profound ability to understand the spirit of the times and harness the opportunities they present to create a successful organisation. These are the attributes that have enabled Public Bank to make stellar returns and create significant value for stakeholders over the years”.
 
According to Tan Sri Tay, “Tan Sri Chairman’s compassion towards his staff and excellence in all his endeavours, call immediately for our total respect and warmest love.  Tan Sri Chairman, you are an inspiration not only to your Public Bank family, but also to generations of bankers and a continuing source of enlightenment”.
 
With this latest 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.

 Dr. KK Johan presenting the award trophy to Tan Sri Dato' Sri Dr. Teh Hong Piow.

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For Immediate Release

22 February 2018

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

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For Immediate Release

2 January 2017

Public Bank Offers 24K Gold-Plated Gifts “PB Golden Fortune Brings You Prosperity with Exquisite Gift”

Public Bank is pleased to announce the launch of the ‘PB Golden Fortune Campaign’ in conjunction with the forthcoming Chinese New Year Celebration with golden reward. The promotion period of this Campaign is from 1 January 2018 to 31 March 2018 and it is open to all new and existing Public Bank customers.
 
There are two exclusively designed enchanting 24K gold-plated auspicious gifts up for grabs this year which consist of a plus size gift namely “Scroll of the Golden Koi” and a standard size gift “Auspicious Double Crane”. These gifts are limited edition and each represents a magnificent piece of gold craft that symbolises longevity, prosperity and success. The gifts are limited and only available on first-come-first-serve basis, while stock lasts.
 
There are two plans i.e. PB Golden Plan and PB Fortune Plan for customers’ selection. Customers can purchase Unit Trust (UT) or PB Smart Link (PBSL) or Gold Investment Account (GIA) bundled with deposit in PLUS or Basic Current / Savings Accounts in order to get the exclusive gift(s). PB Golden Plan offers one “Auspicious Double Crane” and PB Fortune Plan offers one “Scroll of the Golden Koi”.
 
This campaign is designed for customers who are looking for diversified investment products in achieving their financial goals. Customers can choose from a vast selection of Unit Trust funds that cater to their risk appetites in order to achieve their financial goals through proper financial planning. Customer can also invest in PB Smart Link which is an investment-linked insurance plan that provides insurance coverage. In addition, they can choose to invest in gold without having to keep physical gold via the Gold Investment Account which has remained a popular investment tool to safeguard wealth.
 
Just select the PB Golden Plan or PB Fortune Plan of your choice and be rewarded with the limited edition 24K gold-plated gift(s). Collect both designs by signing up for multiple plans!
 
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 free phone at 1-800-22-9999 during normal working hours. Terms and conditions apply.

For Immediate Release

7 November 2017

Public Bank And Public Islamic Bank Activate Relief Assistance Programme For Customers Affected By The Massive Flood

Public Bank and Public Islamic Bank are activating the Relief Assistance Programme for its customers and employees who have been affected by the current flood in several states in Malaysia.
 
Public Bank Managing Director, Tan Sri Tay Ah Lek said today, “Similar to previous relief measures undertaken by Public Bank, the Bank is considerate towards the people who are affected by the flood. The Bank hopes that the Relief Assistance Programme would help to alleviate their hardship.”

Relief Assistance for Affected Customers
Effective November 2017, for the affected individual and business customers, Public Bank is offering moratorium of up to six months for the monthly instalment payments of loans and financing. The flood moratorium is applicable to house financing, hire purchase, credit cards and other loans and financing facilities.

In addition, Public Bank will, on a case-to-case and need basis, accommodate to requests by the affected customers to restructure their loans and financing, and reschedule their monthly repayment to assist in their cash-flow situation during this difficult time.

Public Bank will waive charges to affected customers who are seeking to replace their ATM cards, passbooks, cheque books or any banking related documents, which have been destroyed or lost in the flood.
   
Public Bank will also work in collaboration with Lonpac Insurance Bhd, under its Fast-Track Claim Settlement Programme, to facilitate and expedite claims to be made by the affected customers on losses covered by their respective insurance policies underwritten by Lonpac.

Financial Assistance for Staff
As a caring employer, Public Bank has provided special cash relief assistance to its affected staff and their families. The affected staff are being granted compassionate leave to enable them to attend to their domestic affairs.
 
Contacts
Affected customers who require the Relief Assistance Programme are advised to go to the Public Bank branch where they maintain their accounts or call the Bank’s toll-free number at 1800 22 5555. For insurance claims related matters, affected customers can contact Lonpac at 03-2262 8688.

“Public Bank stands ready to support the needs of customers and staff. The Bank will continue to monitor the situation and extend its assistance should the need arise,” Tan Sri Tay added.

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

27 October 2017

Comments On The Budget 2018
 

We applaud the wholesome approach in crafting the Budget 2018. Budget 2018 touches all aspects of the society and rakyat from all walks of life.  It provides wide ranging and inclusive measures to promote economic expansion and wellbeing of the rakyat, particularly the medium and lower income group. This sets the direction for the nation to embark on the journey towards the National Transformation 2050 (TN50).  The Budget also addresses the needs of the rakyat amid rising cost of living. 
 
We view positively the Government’s firm and continuous commitment in strengthening its fiscal position, and Budget 2018 affirms this ongoing fiscal effort. Budget deficit is projected to reduce further to 2.8% of GDP in 2018, supported by expectations of higher government revenue and prudent fiscal spending.
 
The implementation of new and ongoing infrastructure projects will continue to stimulate investments, which in turn generate capacity expansion in high growth sectors. Domestic investment will complement private consumption activities, contributing to a broad-based economic growth.
 
The global economic landscape will continue evolving owing to technological advancement, particularly in the area of digital economy. In the midst of the Fourth Industrial Revolution, raising value-added productivity, alongside innovation, technological advancements and human capital development could unleash further the growth potential of the Malaysian economy. 

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

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For Immediate Release

26 October 2017

PUBLIC BANK GROUP ACHIEVED PRE-TAX PROFIT OF RM5.16 BILLION FOR THE FIRST NINE MONTHS OF 2017

Chairman’s Review

For the first nine months of 2017, the Public Bank Group continued to make good progress, with its pre-tax profit increasing to RM5.16 billion, representing 8.4% growth from the corresponding period in 2016. Over the same period, net profit attributable to shareholders increased by 7.0% to RM3.98 billion.
 
The Public Bank Group’s sustained business momentum continued to be driven largely by its healthy growth in its loans and deposits business, generating 8.0% growth in its net interest income. Non-interest income also recorded a healthy growth of 7.6% during the period.
 
The Founder and Chairman of Public Bank, Tan Sri Dato’ Sri Dr. Teh Hong Piow said, “The macro environment and the more stringent regulatory requirements have presented many challenges to the banking business. Notwithstanding this, the Public Bank Group’s strategy has continued to deliver values and returns. The Group’s ability to sustain its business performance in this challenging market condition demonstrates its underlying strength as reflected in the Group retaining its competitive position.”
 
Tan Sri Teh added, “The Public Bank Group continued to outperform the Malaysian banking industry as reflected in its key performance indicators. As at the end of September 2017, the Group’s net return on equity stood at 15.4% with an efficient cost-to-income ratio of 32.8%, while the Group’s gross impaired loan ratio remained low at 0.5%.”
 
Healthy Loan and Deposit Growth

In the first nine months of 2017, the Public Bank Group’s total loans recorded 3.3% annualised growth to RM301.3 billion. The Group’s domestic loans portfolio grew at a higher annualised rate of 4.6%, as compared to the banking industry’s annualised growth rate of 3.5%.
 
“The Public Bank Group continued to focus on the financing for the purchase of residential properties, passenger vehicles and lending to small and medium enterprises, which remained our major  sources of  income. The Group has also continued to  retain leading market share in these lending segments,” commented Tan Sri Teh.
 
On deposit-taking, the Public Bank Group’s total deposits grew at an annualised rate of 5.4% to RM322.6 billion over the first nine months of 2017.  On the domestic front, total deposits grew at an annualised rate of 5.7% as compared to 3.7% annualised growth recorded in the domestic industry’s total deposits.
 
Growth in Non-interest Income
 
In the first nine months of 2017, the Public Bank Group’s non-interest income recorded a healthy growth of 7.6%, mainly attributed to the favourable growth in income from the Group’s unit trust management business, as well as fee income from its transactional banking services. 
 
Public Mutual Berhad, the Public Bank Group’s wholly-owned subsidiary, recorded 15.5% growth in profit during the nine months period ended September 2017, and continued to maintain its pole position in the domestic private unit trust industry. As at the end of September 2017, Public Mutual captured an overall retail market share of 41.8%. With 5 new unit trust funds launched over the first nine months of the year, Public Mutual currently manages a total of 138 funds with a total net asset value of RM78.5 billion under its management as at the end of September 2017.
 
Tan Sri Teh reiterated, “Non-interest income has remained integral to the Public Bank Group’s revenue source. The Public Bank Group will further strengthen its capability in growing this revenue stream through the offering of innovative products and proactive marketing and cross selling strategies.”
 
Prudent Approach in Cost Management
 
In the first nine months of 2017, the Public Bank Group continued to sustain an efficient level of cost-to-income ratio at 32.8%, significantly better than the banking industry’s average cost-to-income ratio of 45.8%.
 
Tan Sri Teh highlighted, “The Public Bank Group has put in considerable efforts to strengthen its productivity in order to sustain its cost efficiency.  When rising prices and cost of compliance are exerting pressure on the Group’s expenses, the Group has remained highly committed to financial discipline while ensuring compliance with regulations.”
 
Sustained Strong Asset Quality
 
Tan Sri Teh said, “The Public Bank Group has always focused on asset quality in the pursuit of business growth. Thus, the Group has been able to sustain its stable asset quality even in challenging times. As at the end of September 2017, the Group’s gross impaired loan ratio of 0.5% continued to remain the best in the domestic banking industry.”
 
Overseas Operations
 
The Public Bank Group’s overseas operations continued to drive revenue growth for the Group. For the first nine months of 2017, the Group’s overseas operations contributed 9.8% to the Group’s pre-tax profit, mainly attributed to Public Financial Holdings Limited Group in Hong Kong and Cambodian Public Bank Plc.
 
Tan Sri Teh reiterated, “The Public Bank Group remains committed in growing its overseas operations, particularly in Indo-China and Hong Kong. In pursuit of the Group’s organic growth strategy, it will continue to explore opportunities for the opening of new branches and diversification of products and services to grow its regional operations.”
 
Healthy Capital Position
 
The Public Bank Group has remained well-capitalised with its common equity Tier 1 capital ratio, Tier 1 capital ratio and total capital ratio standing at 11.7%, 12.4% and 15.4% respectively as at the end of September 2017.
 
Tan Sri Teh emphasised, “Maintaining a healthy capital position has always been an important factor to banking resilience. It has remained a strategic action for the Public Bank Group to ensure its capitalisation complies with the regulatory requirement and is supportive of its business growth.”
 
Group’s Prospects
 
The Malaysian economy grew by a stronger than expected rate of 5.7% in the first half of 2017. The growing domestic economic activities, coupled with the firming external demand, are widely expected to underscore higher  GDP growth in 2017.
 
On the banking business, Tan Sri Teh commented, “The banking sector will continue to benefit from the growing economy. Nevertheless, we remain cautious as  downside risks will continue to exert pressure on consumer sentiment.”
 
Tan Sri Teh added, “With its strong foundation, the Public Bank Group has always been in good position to support the country’s economy. The Group will continue to leverage on its strong PB brand and its efficient banking resources and infrastructures to serve the public.”

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

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For Immediate Release

18 September 2017

 

For Immediate Release

15 August 2017

Public Bank Offers Alipay Mobile Wallet Service In Malaysia

Public Bank, Malaysia’s third largest bank and Ant Financial Services Group, an affiliate company of the Alibaba Group joined hands in connecting Malaysian merchants with Alipay mobile wallet services, an online and mobile payment solution.
 
Alipay mobile wallet services is catered to the needs for Alipay users from China who frequently travel and shop in Malaysia, offering the convenience of payment service over carrying large amounts of cash.
 
With the expanding business alliance between China and Malaysia, Public Bank believes offering the seamless Alipay service to its existing and new merchants will assist to increase their sales in view of the greater opportunity from the 520 million Alipay active users.
 
Besides, it also provides Alipay users with better customer experience in Malaysia as it spreads across numerous segments i.e. shopping, dining, hotel stays, etc.
 
Currently, this service is available at all outlets of Degem Collection, Eu Yan Sang, Lazo Diamond Jewellery, L’OCCITANE, Malindo Airways, Star Cruise, Swiss Luxury Watch & Jewelry, The Swatch Group, Vitacare Pharmacy and many more merchant outlets frequented by tourists from China.
 
The event was held at Menara Public Bank and attended by Public Bank’s Managing Director, Tan Sri Dato’ Sri Tay Ah Lek, Deputy Chief Executive Officer, Dato’ Chang Kat Kiam, Alipay South East Asia General Manager, Mr. Dayong Zhang, and Alipay Malaysia Country Head, Ms. Greta Gunawan at Menara Public Bank with the presence of other management staff of Public Bank, officials of Ant Financial Services Group and representatives from Public Bank’s merchants.
 
Commenting at the launch event, Tan Sri Dato’ Sri Tay Ah Lek said, “We are very excited with the collaboration with Alipay, whose parent company Ant Financial is the world’s largest fintech startup. We will roll-out Alipay service to our existing and new in-store merchants. Alipay mobile wallet has become an alternative cashless payment for Chinese tourists.”
 
Concurring on the significance of this partnership, Mr. Dayong Zhang said, “This partnership will enable Alipay payment acceptance at large merchant base of Public Bank and in the end create opportunities for local merchants to better target the large number of Chinese tourists coming to Malaysia.”
 
About Ant Financial Services Group
 
Launched in 2004, Alipay currently has over 520 million active users and over 450 financial institution partners. Alipay has evolved from a digital wallet to a lifestyle enabler. Users can hail a taxi, book a hotel, buy movie tickets, pay utility bills, make appointments with doctors, or purchase wealth management products directly from within the app. In addition to online payments, Alipay is expanding to in-store offline payments both inside and outside of China. Over 10 million brick-and-mortar merchants now accept Alipay across China. Alipay’s in-store payment service is covering more than 200,000 retail stores across the world, and tax reimbursement via Alipay is supported in 24 countries and regions. Alipay currently supports 19 currencies.
 
About Public Bank Berhad
 
Founded in 1966 by Tan Sri Dato’ Sri Dr. Teh Hong Piow and listed on the Main Board of Bursa Securities Malaysia in 1967, Public Bank Berhad is today the leading financial services provider serving over five million customers in Malaysia. Known for its prudent management and strong corporate governance, Public Bank Berhad continues to be accorded international and domestic awards and accolades.
 
The Group continues to commit to deliver excellent customer service and to be more innovative in providing superior financial products and services to meet increasingly sophisticated customer demand. For more information, visit www.pbebank.com.

From left Dato’ Chang Kat Kiam, Tan Sri Dato’ Sri Tay Ah Lek, Mr. Dayong Zhang and Ms. Greta Gunawan at the launch event of Alipay Service between Public Bank and Alipay

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For Immediate Release

31 July 2017

Tan Sri Dato’ Sri Dr. Teh Hong Piow to Relinquish Position as Chairman of Public Bank on 1 January 2019 and Stay on as Chairman Emeritus and Adviser

The Board of Directors of Public Bank (PBB) wishes to announce that Tan Sri Dato’ Sri Dr. Teh Hong Piow, the Non-Executive Chairman of the Company, wishes to relinquish his position as Chairman of PBB on 1 January 2019.
 
In recognition of his par excellence contributions to PBB over the past  51 years since he founded PBB on 30 December 1965,   Tan Sri Dato’ Sri Dr. Teh Hong Piow will be bestowed the title of Chairman Emeritus on 1 January 2019 when he retires as Chairman of PBB. Tan Sri Dato’ Sri Dr. Teh Hong Piow will stay on as Adviser with effect from 1 January 2019 and provide guidance to support the continued growth of PBB and the PBB Group.
 
The Board of Directors further wishes to announce that Tan Sri Dato’ Sri Dr. Teh Hong Piow, who is also the Non-Executive Chairman of Public Islamic Bank Berhad (PIBB) and Public Investment Bank Berhad (PIVB), both wholly-owned subsidiaries of PBB, will retire as Chairman of these two subsidiaries on 1 January 2018 and stay on as Non-Executive Director with effect from 1 January 2018.
 
The smooth transitions of the succession of the Chairmanship of PBB, PIBB and PIVB are in place.
 
The details relating to the appointment of the new Chairman of PBB will be announced at an appropriate time

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