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Public Bank Donates RM100,000 To The Underprivileged
28 June 2016

Public Bank Donates RM100,000 To The Underprivileged

For Immediate Release

28 June 2016

Public Bank Donates RM100,000 To The Underprivileged

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

 
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Tan Sri Teh with the six beneficiary recipients at the cheque presentation ceremony. Also present were Tan Sri Tay Ah Lek, Managing Director (third from left) and Dato’ Chang Kat Kiam, Deputy CEO (far right)
 
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Public Bank Launches the PB Visa Direct
23 May 2016

Public Bank Launches the PB Visa Direct

For Immediate Release

23 May 2016

Public Bank Launches the PB Visa Direct
 
Public Bank Berhad announced the launch of the PB Visa Direct, a new cross-border remittance service where Public Bank retail customers can transfer money to overseas Visa Card through PBe Online Banking and mobile app namely PB engage.
 
Public Bank is the first bank in Malaysia to launch Visa Direct through online and mobile channels.
 
PB Visa Direct allows customers to perform fund transfer quickly, safely and conveniently at anytime and anywhere to over billions of Visa card around the world. It eliminates the hassles in completing detailed information of customer and recipient as it only requires recipient name and 16 digit overseas Visa card number.
 
With PB Visa Direct, fund will be available in the beneficiary’s Visa card account within 30 minutes after the transaction is completed. This applies to Fast Fund enabled Visa cards, or else, the fund will be transferred and credited within 48 hours. Beneficiary can then access the fund to make purchases and withdrawal at ATMs worldwide. Parents can now send money to their children studying abroad to meet living expenses and tuition fees whilst expatriates can pay their outstanding balance on their Visa cards directly.
 
As part of the celebration of this launch, Public Bank Berhad is waiving the service fee of RM10 till 31 July 2016. Moreover, customers who transfer above RM500 will receive 5% Cash Rewards during the campaign period.
 
Present at the launch of PB Visa Direct were Dato’ Chang Kat Kiam, Deputy Chief Executive Officer of Public Bank Berhad and Mr. Ng Kong Boon, Visa Country Manager for Malaysia at Menara Public Bank in Kuala Lumpur.
 
To find out more about this service, 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 call PB Card Services Help Desk at 03-2176 8000. Terms and conditions apply.
 
About Visa
 
Visa Inc. (NYSE: V) is a global payments technology company that connects consumers, businesses, financial institutions, and governments in more than 200 countries and territories to fast, secure and reliable electronic payments. We operate one of the world's most advanced processing networks - VisaNet - that is capable of handling more than 65,000 transaction messages a second, with fraud protection for consumers and assured payment for merchants. Visa is not a bank and does not issue cards, extend credit, or set rates and fees for consumers. Visa's innovations; however, enable its financial institution customers to offer consumers more choices: pay now with debit, pay ahead of time with prepaid or pay later with credit products. For more information, visit www.visa.com.my, http://visaapnews.asia/ and @VisaNews. 
 
About Public Bank Berhad
 
Founded in 1966 by Tan Sri Dato’ Sri Dr. Teh Hong Piow and listed on the Main Board of Bursa Securities Malaysia in 1967, Public Bank Berhad is today the leading financial services provider serving over five million customers in Malaysia. Known for its prudent management and strong corporate governance, Public Bank Berhad continues to be accorded international and domestic awards and accolades.
 
The Group continues to commit to deliver excellent customer service and to be more innovative in providing superior financial products and services to meet increasingly sophisticated customer demand. For more information, visit www.pbebank.com.
 

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From left Public Bank Card Services & Support Director, Mr. Tee Chui Chee, Public Bank Retail Financial Services General Manager, Ms. Chan Chiew Peng, Public Bank Deputy Chief Executive Officer, Dato’ Chang Kat Kiam, Visa Country Manager for Malaysia, Mr. Ng Kong Boon and Visa Head of Sales for Malaysia, Mr. Tony Thong at the launch of PB Visa Direct, a new cross-border remittance service where Public Bank retail customers can transfer money to overseas Visa Card through PBe Online Banking and PB engage


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Public Bank Offers Special Interest Rates on Savings Accounts
12 May 2016

Public Bank Offers Special Interest Rates on Savings Accounts
For Immediate Release

12 May 2016

Public Bank Offers Special Interest Rates on Savings Accounts

In conjunction with Public Bank’s 50th anniversary, Public Bank Berhad (PBB) has recently launched a new deposit campaign known as ‘PB 50th Anniversary Bonus Savers Reward’ which offers bonus interest rates of up to 5% p.a. on selected savings account. The campaign is open to all new and existing PBB customers aged 18 years and above with a valid Malaysian National Registration Identity Card (NRIC).
 
Under the campaign, customers who are holding a PLUS Savings Account (PLUS SA) or Basic Savings Account (Basic SA) and have a minimum incremental Average Daily Balance (ADB) of RM5,000 via fresh deposit throughout the campaign period will be entitled to bonus interest rates. The bonus interest rates ranging from 1.5% p.a. to 5% p.a. will be paid on the incremental ADB of minimum RM5,000 to a maximum of RM300,000 per account. The bonus interest is payable on top of the prevailing interest rates of the customer’s PLUS SA and Basic SA. The bonus interest will be credited into the customer’s account within ONE (1) month after the end of the Campaign Period.
 
Participation into this campaign is fast and simple where customers are only required to register their participation via a ONE (1) time Short Message Service (SMS) during the campaign period, i.e. key in PBSR <space> 12-digit NRIC No. and send to 63633. Customers who performed SMS registration for the Campaign will receive an auto reply SMS message confirmation from PBB at no cost.
 
‘PB 50th Anniversary Bonus Savers Reward’ will run for a period of 3 months until 31 July 2016. As this is an attractive offer for customers who wish to earn higher interest, customers are encouraged to participate in the campaign using fresh funds to be eligible for the bonus interest.
 
Moving forward, PBB will continue to launch more attractive campaigns to reward customers for their loyalty and patronage via a wide range of products and services offered by the Bank.
 
To find out more about our 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.
 
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Public Bank And KOJADI Signs JomPAY Agreement
27 April 2016

Public Bank And KOJADI Signs JomPAY Agreement



For Immediate Release

27 April 2016

Public Bank And KOJADI Signs JomPAY Agreement

Public Bank and Koperasi Jayadiri Malaysia Berhad (KOJADI) officially signed the JomPAY Service Agreement at Menara Public Bank, Kuala Lumpur on 27 April 2016.
 
Public Bank has been appointed by KOJADI as the Master Biller Bank for JomPAY. This tie-up with Public Bank offers KOJADI the convenience of collecting loan repayments from their customers through 40 GIRO participating member banks across Malaysia.
 
The agreement was inked by Public Bank’s Managing Director/Chief Executive Officer, Tan Sri Dato Sri Tay Ah Lek and Deputy Chief Executive Officer, Dato’ Chang Kat Kiam. KOJADI’s Chairman, Datuk Ng Peng Hay and its Honorary Secretary, Dato’ Yik Phooi Hong signed on behalf of KOJADI.
 
To support petty traders, small and medium-sized enterprises (SMEs) and entrepreneurship development, the government had announced in this year’s budget that it will to provide a SME loan totalling RM90 million. KOJADI is one of the appointed bodies managing the loan allocation to these SMEs.
 
Currently, other types of loan being offered by KOJADI include education and micro credit loans. KOJADI is also tasked with the disbursement of loans for Economic Transformation Programmes (ETP) such as Transformasi Kedai Runcit (TUKAR) and Automative Workshop Modernisation (ATOM).
 
JomPAY was launched by MyClear in accordance with the national aspiration to accelerate the adoption of e-payments in Malaysia. By establishing an accessible bill payment eco-system, JomPAY ensures that the consumers can pay bills anywhere and anytime via the secure Internet and mobile banking channels of various banks across the country. For businesses and billers, using JomPAY helps them to collect payments from customers at a minimal cost.
 
The collaboration between the Bank and KOJADI is in line with Bank Negara Malaysia’s directive to migrate cash and cheque payments to e-payments. Bank Negara Malaysia’s initiatives include the introduction of the e-payment incentive fund and card reform framework as measures to accelerate the migration to electronic payments.
 
The Bank has been an active participant in a series of e-payment roadshows and township campaigns on payment card acceptance nationwide organised by Bank Negara Malaysia which is aimed at creating awareness of the developments in the payment industry and educating the public on e-payment services.
 
Public Bank is committed to support Malaysia’s transformation to e-payments and will support new programme to promote e-payment in the future. The Bank has organised extensive nationwide e-Payments Forums to promote the Bank’s comprehensive cash management and e-banking services.
 
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(From left) Public Bank’s Deputy Chief Executive Officer, Dato’ Chang Kat Kiam, Managing Director, Tan Sri Dato’ Sri Tay Ah Lek and KOJADI’s Chairman, Datuk Ng Peng Hay and Honorary Secretary, Dato’ Yik Phooi Hong at the JomPAY signing ceremony in Menara Public Bank
 
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Public Bank Group Achieved Pre-Tax Profit Of RM1.65 Billion For The First Quarter Of 2016
20 April 2016

Public Bank Group Achieved Pre-Tax Profit Of RM1.65 Billion For The First Quarter Of 2016

For Immediate Release

20 April 2016

Public Bank Group Achieved Pre-Tax Profit Of RM1.65 Billion For The First Quarter Of 2016
 
Chairman’s Review

Public Bank Group today announced its financial results for the first quarter ended 31 March 2016, which reflects continued growth in retail earnings against a backdrop of economic headwinds.
 
The Founder and Chairman of Public Bank, Tan Sri Dato’ Sri Dr. Teh Hong Piow announced that, “The Public Bank Group recorded a pre-tax profit of RM1.65 billion, representing a growth of 10.9% as compared to the last corresponding quarter. Net profit attributable to shareholders grew by 5.0% to RM1.23 billion for the same period.”
 
Tan Sri Teh said that, “Having started the year with a positive momentum, the Public Bank Group achieved resilient growth in the first quarter of 2016, with its domestic loans and domestic deposits recording healthy annualised growth of 9.0% and 10.9% respectively. With the resilient deposits growth, the Group continued to sustain a healthy net loan-to-deposit ratio of 89.9% as at the end of March 2016.”
 
Tan Sri Teh further added that, “Despite the challenging operating environment, the Public Bank Group continued to progress and deliver a favourable set of financial results by achieving a net return on equity of 16.1% whilst maintaining its low gross impaired loan ratio of 0.5% and an efficient cost-to-income ratio of 31.5% in the first quarter of 2016. The results are testament to the strength of our business model and reflect the Group’s continued focus on executing our organic growth strategy.”
 
Sustaining Growth Momentum in Loans and Deposits
 
During the first quarter of 2016, total gross loan base of the Public Bank Group increased at an annualised rate of 5.5% to RM277.2 billion as at the end of March 2016. Excluding the effect of foreign exchange fluctuation on its overseas operations, the Group’s annualised loan growth would have been 8.4% during the quarter, supported by its healthy domestic loans growth of 9.0% over the same period.
 
Lending to the retail banking segment remains the key focus of the Public Bank Group, with extension of credit to small and medium enterprises as well as consumer financing for purchase of residential properties and passenger vehicles. As at the end of March 2016, the Group’s retail loan portfolio collectively accounted for 85% of its total loans.
 
Tan Sri Teh commented that, “The Public Bank Group’s funding and liquidity position remained supportive of its lending activities, backed by its strong retail deposit franchise and its superior customer service. The Group’s total customer deposits grew at an annualised rate of 7.3% or 10.1% if excluding the foreign exchange fluctuation effects on its overseas operations. Domestic customer deposits recorded a stable annualised growth of 10.9%, as compared to a 0.04% contraction in the domestic banking industry’s deposit in the first two months of 2016.”

Resilient Growth in Net Income
 
Net income of the Public Bank Group recorded a resilient growth of 10.6% in the first quarter of 2016. This was attributable to the healthy growth of 9.8% in the Group’s net interest income, coupled with a 12.4% growth in its non-interest income.
 
Tan Sri Teh emphasised that, “Besides sustaining a healthy loan and deposit growth which contributes to its net interest income growth, the Group has continued to place great emphasis in growing its non-interest income, leveraging on its strong retail franchise, superior customer service and effective cross selling initiatives. Non-interest income of the Group continued to be driven by its unit trust management business, foreign exchange business and fee income from its banking operations.”
 
The Public Bank Group’s unit trust income constituted one-third of the Group’s total non-interest income. Public Mutual Berhad (”Public Mutual”), the Group’s wholly-owned subsidiary, remained as the market leader in the private unit trust industry with a total net asset value of RM67.2 billion, capturing a retail market share of 49.6%.
 
To further drive the Public Bank Group’s unit trust business, Public Mutual will continue to maintain its strong brand and leading market position in the private unit trust industry in Malaysia through the delivery of efficient customer service to its clients as well as expand and diversify its product range to meet investors’ demand.
 
Observing Prudent Cost Management
 
Tan Sri Teh highlighted that, “The Public Bank Group’s cost-to-income ratio remained efficient at 31.5% in the first quarter of 2016, well below the banking industry’s average cost-to-income ratio of 48.8%, making the Group the most cost-efficient bank in Malaysia.”
 
“To ensure cost sustainability amid the challenging business landscape, the Public Bank Group will continue to practise prudent cost discipline, deploy adequate resources to review and improve its business processes, and ensure optimum utilisation of its infrastructure to further enhance efficiency and productivity while ensuring strict compliance with internal operation standards and procedures,” added Tan Sri Teh.
 
Upholding Asset Quality
 
“The Public Bank Group continued to sustain its resilient asset quality with a stable gross impaired loans ratio of 0.5%, which was significantly lower than the Malaysian banking industry’s gross impaired loans ratio of 1.6%. This is a result of the Group’s consistent adoption of strict and prudent credit policies, coupled with its efficient and effective loan approval and recovery processes,” said Tan Sri Teh.
 
Despite the strong asset quality, the Group has maintained a prudent loan loss coverage ratio of 120.1% as at the end March 2016, higher than the Malaysian banking industry’s ratio of 92.8%.

Overseas Operations
 
For the first quarter of 2016, the Public Bank Group’s overseas operations contributed 9.5% of the Group’s overall pre-tax profit. Cambodian Public Bank Plc (“Campu Bank”), a wholly-owned subsidiary of Public Bank, reported a commendable growth in pre-tax profit of 18.8% to USD16.5 million as compared to the corresponding quarter in 2015.
 
Public Bank had on 24 March 2016 received the 100% foreign-owned bank licence from the State Bank of Vietnam in relation to the Group’s acquisition of the remaining 50% equity capital in VID Public Bank (VPB), the 50:50 joint venture bank with Joint Stock Commercial Bank for Investment and Development of Vietnam.
 
Effective 1 April 2016, VPB has become a 100% wholly-owned subsidiary of the Public Bank Group and renamed as Public Bank Vietnam Limited (PBVN).
 
Tan Sri Teh said that, “The issuance of the 100% foreign-owned bank licence to PBVN will strengthen the Public Bank Group’s regional presence in Indo-China. Campu Bank is currently the third largest bank in Cambodia with a network of 28 branches, whilst Public Bank has 4 branches in Laos PDR. The inclusion of PBVN as a wholly-owned subsidiary augurs well for the Group to maximise its synergy within Indo-China and strengthen the PB Brand within the region.”
 
Ensuring a Healthy Capital Position
 
The Public Bank Group’s capital position remained stable, with its common equity Tier 1 capital ratio, Tier 1 capital ratio and total capital ratio standing at 10.8%, 11.8% and 15.2% respectively as at the end of March 2016.
 
Tan Sri Teh emphasised that, “We will continue to be proactive in our capital management in order to ensure that the Group is well positioned to support its business growth strategies by balancing the need for higher capital retention under the Basel III capital regime whilst maximising our shareholders’ return.”
 
Group’s Prospect
 
“Moving forward, the Public Bank Group will remain focused on driving organic growth in its core retail banking and financing business by leveraging on its strong PB Brand, its wide and efficient branch network and its superior customer service. We will continue to maintain prudent credit policies, as well as upholding strong corporate governance,”  remarked Tan Sri Teh.
 
“Looking ahead in 2016, economic headwinds, intense competition and compression in net interest margins will remain the challenges for the banking sector. However, the Public Bank Group has withstood the challenge of times for the past 50 years and we believe our solid business model and strong footing in the domestic banking landscape will continue to lead us to navigate the challenges ahead and achieve continued sustainable growth,” concluded Tan Sri Teh.
 

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

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Public Bank Launches The PB World MasterCard Credit Card
08 April 2016

Public Bank Launches The PB World MasterCard Credit Card



For Immediate Release

8 April 2016

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

“We are delighted to partner with Public Bank on the launch of the new PB World MasterCard Credit Card. Featuring our contactless payment technology, we hope to provide Malaysian consumers with a faster and more convenient way to pay for everyday purchases. Coupled with best-in-class privileges and rewards, we believe the newly launched card will meet the lifestyle needs of today’s consumers as they embrace contactless payments,” said Safdar Khan, Group Country Manager, Indonesia, Malaysia, and Brunei; Group Head, Islamic Payments, Southeast Asia, MasterCard.
 
To find out more about this Card, customers are invited to visit customer service representatives at any of our branches, log on to Public Bank’s website at www.pbebank.com or call PB Customer Service at 03-2176 8188. Terms and conditions apply.
 
Highlights of the PB World MasterCard Credit Card
 
Airport Privileges
  • Priority Pass welcomes you at over 700 airport VIP lounges worldwide, regardless of the airlines you fly or the class you travel with 25% discount on annual membership fee. You’ll be able to relax, unwind or work in luxurious airport lounges around the world.
  • Enjoy 15% off the retail rate for Meet and Greet Services at over 450 airports
Hotels
  • Complimentary upgrade to Gold status with Starwood Preferred Guest after one night stay when you pay with World MasterCard Credit Card at participating resorts in Asia Pacific
  • Complimentary one-year Leaders Club membership when you book a one night stay with The Leading Hotels of the World. With over 430 Leading Hotels in over 80 countries, you will be able to enjoy the finest hospitality that caters to your needs
Travel
  • Complimentary Michelin-starred lunch, private sightseeing tour and bottle of fine wine with MasterCard’s Gourmet on Tour Programme.
  • Complimentary HERTZ Gold Plus Rewards membership
  • 10% off for all car groups (exclude Dream Cars) with minimum 1 day rental and 10% off + Free two-car-class upgrade with minimum 4 days rental with Hertz
About MasterCard
 
MasterCard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardAP and @MasterCardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.
 
About Public Bank Berhad
 
Founded in 1966 by Tan Sri Dato’ Sri Dr. Teh Hong Piow and listed on the Main Board of Bursa Securities Malaysia in 1967, Public Bank is today the leading financial services provider serving over five million customers in Malaysia. Known for its prudent management and strong corporate governance, Public Bank continues to be accorded international and domestic awards and accolades.
 
The Group continues to commit to deliver excellent customer service and to be more innovative in providing superior financial products and services to meet increasingly sophisticated customer demand. For more information, visit www.pbebank.com.
 
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(From left) Ms. Chan Chiew Peng, Dato' Chang Kat Kiam, Mr. Safdar Khan and Mr. Chayan Hazra at the launching ceremony
 
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FPX Signing Ceremony Between Public Bank Berhad And AirAsia Berhad
05 April 2016

FPX Signing Ceremony Between Public Bank Berhad And AirAsia Berhad



For Immediate Release

5 April 2016

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

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

For Immediate Release

28 March 2016

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

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

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

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

 


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



Y. Bhg. Tan Sri Dato' Sri Dr. Teh Hong Piow, Founder and Chairman of Public Bank welcoming the shareholders
 
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Public Bank Receives 100% Foreign-Owned Bank Licence In Vietnam
25 March 2016

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

For Immediate Release

25 March 2016

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

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

 
 
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Tan Sri Teh Hong Piow Conferred The Royal Order Of Monisaraphon, Commander By The Royal Government Of The Kingdom Of Cambodia
14 March 2016

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

For Immediate Release

14 March 2016

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

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

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

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