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Public Bank Group Achieved Pre-Tax Profit Of RM1.82 Billion In The First Quarter Of 2019

For Immediate Release

29 April 2019

Public Bank Group Achieved Pre-Tax Profit Of RM1.82 Billion In The First Quarter Of 2019
 
Tan Sri Dato’ Sri Dr. Teh Hong Piow, the Founder, Chairman Emeritus, Director and Adviser of Public Bank, announced today, “For the first quarter of 2019, the Public Bank Group continued to sustain its financial performance, with the Group delivering pre-tax profit of RM1.82 billion, up 1.4% from the corresponding period in 2018. Net profit grew by 0.3% over the same period to RM1.41 billion.”
 
The Public Bank Group’s consistent profitability was mainly contributed by the Group’s healthy loan and deposit growth, coupled with its sustained strong asset quality. Despite the increasingly challenging banking landscape, the Group achieved 4.8% annualised growth in its total domestic loans and 4.9% annualised domestic deposit growth in the first quarter of 2019.
 
Tan Sri Teh added, “When the operating environment was still clouded by rising headwinds and persistent uncertainties, the Public Bank Group was able to sustain its performance. With the stable performance in the first quarter of 2019, the Group continued to sustain its leading position as the most cost efficient Malaysian bank with the best asset quality. This is clearly reflected in the Group’s high net return-on-equity of 14.0%, efficient cost-to-income ratio of 33.8% and lowest gross impaired loan ratio of 0.5%.”
 
Healthy Growth Momentum in Loans and Deposits
 
In the first quarter of 2019, despite challenges in the operating environment, the Public Bank Group’s total gross loans grew at an annualised rate of 3.9%, while domestic loans grew at a faster pace at 4.8% annualised rate. The expansion in the Group’s loan portfolio was mainly attributed to the healthy growth in its residential properties financing, lending to the small and medium enterprises (“SMEs”) and corporate customers for the purchase of commercial properties and working capital. The Group’s market position also continued to stand strong as it sustained its significant domestic market share of 19.8%, 35.2% and 28.7% in the financing for the purchase of residential properties, commercial properties and passenger vehicles respectively.
 
Tan Sri Teh added, “The Group’s strong position in the financing market reflects its proactive role in supporting the financing needs of consumers and businesses. To preserve financial stability and sustainability, the Group also places great emphasis on prudent and responsible lending practices. In the first quarter of 2019, the Group had approved RM13.4 billion loans in total, of which 57.0% was granted to retail consumers for the purchase of residential properties and passenger vehicles; whereas 20.3% represented lending to SMEs. This reflects the Group’s continuous support of homeownership and SMEs in the country.”
 
In tandem with the healthy loan growth, the Group’s total customer deposits grew at an annualised rate of 4.5% for the first quarter of 2019. The Group’s liquidity position remained healthy with its funding position being continuously supported by stable deposits.
 
Tan Sri Teh reiterated, “Amid the more moderate growth in the economy and rising competition in the domestic banking landscape, banks continued to face margin pressure in growing their financing and deposit portfolio. The Group has therefore increased its focus on its asset and liability management. This includes efforts in growing its low-cost current and savings deposits as well as tapping on its new PB Enterprise platform to enhance its cash management services.”
 
Stable Non-interest Income
 
Heightened uncertainties in the global economy and increased volatility in the financial market continued to pose challenges to banks in growing their non-interest income. Despite the challenging backdrop, the Public Bank Group continued to generate stable fee-based revenue, which were mainly driven by its unit trust business and banking transaction business.
 
Tan Sri Teh highlighted, “Public Mutual, the Public Bank Group’s wholly-owned unit trust management subsidiary, remained the largest contributor to the Group’s non-interest income. As at the end of the first quarter of 2019, Public Mutual had a total of 148 unit trust funds under its management, translating into a total net asset value of RM81.6 billion. This also resulted in Public Mutual sustaining its pole position in the domestic private unit trust industry, with a significant retail market share of 36.4%.”
 
Prudent Cost Management
 
In the first quarter of 2019, the Public Bank Group continued to record an efficient cost-to-income ratio of 33.8%, significantly better than the banking industry’s average cost-to-income ratio of 44.6%.
 
Tan Sri Teh said, “Amid rising cost pressure, the Group continued to practise efficient deployment of resources to further enhance productivity. Prudent cost management has always been part of the Group’s operating strategy in pursuing revenue growth whilst sustaining high return to its shareholders.”
 
Sustained Strong Asset Quality
 
The Public Bank Group continued to place strong emphasis on maintaining strong asset quality, with its gross impaired loan ratio remaining the lowest at 0.5% in the first quarter of 2019, as compared to the banking system’s gross impaired loan ratio of 1.5%.
 
Tan Sri Teh added, “As at the end of March 2019, the Group sustained a high loan loss coverage ratio of 124.7%, well above the banking industry’s loan loss coverage of 96.2%. Including additional regulatory reserves set aside of RM1.9 billion, the Group’s loan loss coverage ratio would be much higher at 244.0%.”
 
Overseas Operations
 
The Public Bank Group’s overseas operations continued to record stable profitability, contributing 10.3% to the Group’s total pre-tax profit in the first quarter of 2019. Public Financial Holdings Limited Group in Hong Kong and Cambodian Public Bank Plc (“Campu Bank”) remained the main contributors to the Group’s overseas business profits.
 
Tan Sri Teh highlighted, “In view of the growing potential of the Indo-China market, the Public Bank Group is actively pursuing opportunities in this area leveraging on its long-established footprint, particularly in Cambodia whereby Campu Bank continues to be the largest foreign bank in Cambodia.”
 
Tan Sri Teh further added, “The Public Bank Group’s operations in Vietnam, despite still being a small contributor to the Group’s profit currently, is also a key focus of the Group’s overseas business growth strategy. Since Public Bank Vietnam Limited (“PBVN”) became a wholly-owned foreign subsidiary of the Group in 2016, the Group has been strengthening its presence in Vietnam. From 7 branches in 2015, PBVN has today expanded to a network of 18 branches. This year, there will be further opening of 8 new branches, subject to regulatory approval. In the medium term, the Group is targeting to build a wide network of about 40 branches in Vietnam. This will further strengthen the Group’s foothold in the Indo-China market, particularly in Vietnam in addition to Cambodia.”
 
Healthy Capital Position
 
The Public Bank Group’s capital position remained stable, as reflected in its common equity Tier 1 capital ratio, Tier 1 capital ratio and total capital ratio which stood at 12.9%, 13.4% and 16.0% respectively as at the end of March 2019.
 
Tan Sri Teh reiterated, “The Group has in place a robust capital management framework to guide its capital management strategy. The Group is always mindful that as it pursues business growth, it is important to ensure its capital position complies with regulatory requirement and is aligned with the Group’s risk appetite.”
 
Group’s Prospect
 
While the Malaysian economy is expected to remain on a sustained growth path in 2019, it is likely to be another year of challenges given the prevailing external headwinds. This is expected to continue to weigh on domestic sentiments, with increased downside risks to the domestic economic environment.
 
Tan Sri Teh said, “The increasingly challenging macro environment will continue to pose downside pressure on the Malaysian banking sector.  However, tapping on the expanding domestic economy and domestic demand, the ongoing demand for financing and banking products will continue to create opportunities for banks to pursue. The Public Bank Group will continue to grow its business while remaining cautious on downside risks. While the Group’s long term banking strength will continue to place the Group in good stead to embrace growth, the Group will further strengthen its core competencies, such as digital capabilities and superior customer service, to capture prospective opportunities and deliver sustained performance in this changing environment.”
 
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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's 53rd Annual General Meeting Held On 22 April 2019

For Immediate Release

22 April 2019

Public Bank’s 53rd Annual General Meeting Held On 22 April 2019
 
In conjunction with Public Bank’s 53rd Annual General Meeting held on 22 April 2019, the Founder, Chairman Emeritus, Director and Adviser 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 2018.
 
Performance Review
 
Tan Sri Teh said, “The Public Bank Group made good business progress and achieved pre-tax profit of RM7.10 billion in 2018. Net profit attributable to shareholders rose by 2.2% to RM5.59 billion in 2018 from RM5.47 billion in 2017. As a result, earnings per share increased by 1.9% to 144.4 sen in 2018.”
 
Tan Sri Teh added, “Despite facing a more challenging business climate, the Public Bank Group was able to sustain stable profitability in 2018 due to its continuous effort to drive revenue growth, coupled with the Group’s strong asset quality and prudent cost management. With that, the Group maintained its leading position amongst domestic banking groups in Malaysia with the highest net return on equity of 14.8%, most efficient cost to income ratio of 33.0% and lowest gross impaired loans ratio of 0.5%.”
 
Tan Sri Teh further added, “In view of the Group’s stable financial performance in 2018, a second interim dividend of 37 sen was paid on 14 March 2019. Together with the first interim dividend of 32 sen paid in September 2018, the shareholders would have received a total dividend of 69 sen per share for 2018.” The total dividends paid amounted to RM2.68 billion, representing a payout of 47.9% of the Group’s net profit in 2018.
 
Healthy Growth in Loans and Customer Deposits
 
The Public Bank Group’s lending activities continued to be driven by the financing of residential properties and passenger vehicles, as well as lending to small and medium enterprises for the purchase of commercial properties and working capital.
 
Tan Sri Teh highlighted that, “Despite intense market competition, the Public Bank Group achieved healthy loans growth of 4.2% in 2018, whilst the Group’s customer deposits expanded by 6.2%.”
 
Tan Sri Teh further added, “The Public Bank Group retained its pole position in the domestic financing for the purchase of residential properties and commercial properties with market shares of 19.8% and 35.2% respectively as at the end of 2018.”
 
Superior Asset Quality
 
Tan Sri Teh said, “The Public Bank Group’s gross impaired loans ratio of 0.5%, which is well below the banking industry’s gross impaired loans ratio of 1.5%, remained the best and ranked no. 1 amongst the Malaysian banking groups.”
 
With the adoption of MFRS 9 on 1 January 2018, the Group's loan loss coverage ratio further increased from 95.5% as at the end of 2017 to 126.0% as at the end of 2018, surpassing the banking industry’s loan loss coverage ratio of 97.9%. With the inclusion of regulatory reserves, the Group’s loan loss coverage ratio would be significantly higher at 237.5%.
 
International Operations
 
In 2018, the pre-tax profit of the Public Bank Group’s international operations increased marginally by 0.4% to RM690.7 million. The Group’s international operations contributed 9.7% to the Group’s total pre-tax profit in 2018, mainly from Public Financial Holdings Limited Group in Hong Kong and Cambodian Public Bank Plc.
 
Tan Sri Teh commented, “The Public Bank Group has been actively growing its business in Vietnam through the expansion of branches. The Group opened five new branches in 2018, bringing the total branches to 18. The Group plans to open 8 new branches in 2019, subject to regulatory approval, to further expand its market presence in Vietnam.”
 
Stable Contribution from Non-Interest Income
 
In view of the more cautious sentiment in the market place, growing fee-based business had been a challenge in 2018. During the year, the Public Bank Group’s fee income growth was mainly driven by its unit trust and banking transaction businesses.
 
Tan Sri Teh said, “The Group’s wholly-owned unit trust management company, Public Mutual, continued to be the major contributor to the Group’s non-interest income. As at the end of 2018, Public Mutual managed a total of 147 unit trust funds which amounted to a net asset value of RM78.75 billion, sustaining its top ranking in the domestic private unit trust business with a significant retail market share of 37.2%.”
 
Healthy Capital and Liquidity 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, after deducting second interim dividends, standing at 13.1%, 13.7% and 16.3% respectively as at the end of 2018. The Group’s liquidity position also remained healthy, as reflected in its gross loans to fund and equity ratio of 79.0% as at the end of 2018.
 
Tan Sri Teh commented that, “The Public Bank Group will always ensure that its capital and liquidity position comply with regulatory requirements with adequate buffers available to support long term growth as well as pursuit of the Group’s strategic business objectives.”
 
Superior Returns to Shareholders
 
The Public Bank Group continues to deliver consistent and superior returns to its shareholders, both over the medium term and long term.
 
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 RM3.3 million as at today. In addition, he would have received a total gross dividend of RM1.3 million. This translates into a total value of RM4.6 million, representing a remarkable compounded annual rate of return of 19% for each of the 51 years since 1967.”
 
Digital Initiatives
 
Tan Sri Teh said, “Accelerating digitalisation is one of the Public Bank Group’s key focus area. The Group takes a practical approach in its pursuit of digital initiatives, going along customers’ needs and their readiness to adopt digital-driven services, at the same time mindful of the associated risks such as cyber security threat, and the short life cycle of application as a result of rapid advancement in technology.”
 
As of today, Public Bank has implemented several initiatives for digital payment services in line with industry trend, such as AliPay, Samsung Pay, WeChat Pay and DuitNow. For onboarding of new customers, Public Bank has also implemented the eSignature at all branches, which has significantly reduced the time taken to onboard customers.
 
Public Bank’s internet and mobile banking, PBe and PB engage, continue to be enhanced with new functions and features. In terms of the number of users, Public Bank’s internet and mobile banking have achieved good growth. Between 2014 and 2018, PBe users grew by 25% compounded annual growth rate (“CAGR”) to a total of 2.4 million users. Similarly, PB engage users also grew by 85% CAGR to 1.1 million users.
 
Currently, Public Bank is working on several fintech initiatives such as Big Data Analytics, Open API, eKYC, and blockchain.
 
Tan Sri Teh highlighted, Over the last three years, Public Bank has invested about RM400 million on IT-related capital expenditure, which include spending on digital infrastructure. Of this amount, about RM90 million was spent specifically on fintech-related initiatives. Going forward, the Bank is planning to invest another RM600 million in the next three years to further enhance ICT infrastructure, digital capability and knowledge.
 
Corporate Responsibility
 
Tan Sri Teh said, “As the third largest banking group in Malaysia, the Public Bank Group is committed to promote sustainable and responsible banking practices, and continue to maintain a business model that creates value for its stakeholders and the wider community. The Group has played, and continues to play a key role in supporting the broad range of the community’s financial needs - both through the products and services that the Group provides as well as through the funding that the Group contributes to the community.”
 
Through the Public Bank Group’s business, charitable donations and staff volunteerism, the Group continues to create positive social impact which will benefit the communities in which the Group operates. With total tax payment of RM1.53 billion made by the Group in 2018, the Group is a major contributor to the nation’s well-being and development. In recognition of Public Bank’s contribution to the country’s fiscal revenue, Public Bank was one of the 11 recipients of the “Best Tax Payer Award 2018” by Inland Revenue Board of Malaysia.
 
Tan Sri Teh added, “One of the Public Bank Group's key focus area in sustainability is responsible lending, particularly in providing financing for first time home buyers and supporting the financing needs of the SME segment. With a lending portfolio for residential properties and SMEs amounting to RM110.5 billion and RM69.5 billion respectively as at the end of 2018, the Group is the largest domestic financier for these two key segments today, which is a testament to the Group's unwavering commitment in supporting home ownership and SMEs over the years. The Group has also continued to proactively participate in a broad range of government and Bank Negara Malaysia's initiated financing schemes for affordable homes and support of SMEs. For customers who are facing financial difficulties, the Group is committed to provide assistance which range from short term to longer term assistance such as rescheduling or restructuring of loans and granting of moratorium to customers who are affected by natural disaster. All these efforts reflect the integration of sustainability into the Group’s corporate culture, and the Group’s mission and strategies for its banking business.”
 
In 2018, the Public Bank Group has approved more than 42,000 housing loans amounting to RM16.18 billion in Malaysia, of which 62.3% were for the purchase of affordable properties. The Group has also supported the SME segment, the key engine of growth in the country, with easy access and hassle free financing to meet their business needs. In 2018, loans approved for SMEs amounted to RM11.05 billion and accounted for 20.7% of the Group's domestic loans portfolio. This year, the Group has also introduced the Skim Rumah Pertamaku - PB First Home Loan in support of the government's effort to assist low income earners to own a home. In 2018 alone, the Group has granted moratorium to more than 4,000 customers affected by flood which amounted to over RM600 million.
 
Tan Sri Teh further added, “Over the next three years, the Group is targeting to approve a total of RM50 billion of housing loans and RM40 billion of SME loans, demonstrating its continued strong support of the government efforts in promoting home ownership and SME business in the country”.
 
 Recognition of Banking Excellence
 
Over the years, Public Bank, under the astute leadership of its Founder, Chairman Emeritus, Director and Adviser, Tan Sri Dato’ Sri Dr. Teh Hong Piow, has won more than 500 awards in recognition of its banking excellence. These awards were conferred by reputable domestic and international publications as well as independent organisations. In 2018 alone, Public Bank garnered a total of 34 awards. Some of the notable awards received include:
  • Best Bank in Malaysia 2018 by Alpha Southeast Asia
  • Best Bank In Malaysia 2018 by Euromoney
  • Best Retail Bank by Alpha Southeast Asia
  • Best Domestic Bank in Malaysia 2018 by The Asset
  • The Strongest Bank by Balance Sheet in Malaysia 2018 by The Asian Banker
  • 8th Asian Excellence Recognition Awards 2018 for Best Investor Relations Company for Malaysia by Corporate Governance Asia
  • The Asset Platinum Award 2018 for Excellence in Environmental, Social and Corporate Governance by The Asset  
In the recent Lipper Fund Awards, Public Mutual broke the record for the most number of Lipper Fund awards won by a single company in a year with a total of 29 awards.

Outlook
 
On the strategic directions and outlook for the Public Bank Group, Tan Sri Teh commented that, “The operating environment is expected to be more challenging. As innovation and the use of technology and information gather pace, the banking landscape will continue to change. To achieve sustainable growth, the Public Bank Group will continue to drive business and digital innovation to support operational efficiency and improve responsiveness. With the Group’s resilient financial performance track record and having overcome all the challenges faced in its 52 years journey, the Group is positive that its sound business model focusing on organic growth strategy in the retail banking business and prudent credit practices will enable the Group to continuously deliver long term value to all its stakeholders.”
 
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Y.Bhg. Tan Sri Dato' Sri Dr. Teh Hong Piow
Founder, Chairman Emeritus, Director and Adviser of Public Bank

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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 Group Achieved Pre-Tax Profit of RM7.10 Billion for 2018 and Declared Second Interim Dividend of 37 Sen

For Immediate Release

20 February 2019

Public Bank Group Achieved Pre-Tax Profit of RM7.10 Billion for 2018 and Declared Second Interim Dividend of 37 Sen
 
Tan Sri Dato’ Sri Dr. Teh Hong Piow, the Founder, Chairman Emeritus, Director and Adviser of Public Bank, announced today, “In 2018, despite the challenging operating environment, the Public Bank Group continued to sustain stable profitability and a healthy balance sheet growth. The Group achieved a pre-tax profit of RM7.10 billion in 2018. Net profit attributable to shareholders increased by 2.2% to RM5.59 billion in 2018 from RM5.47 billion achieved in 2017.”
 
Tan Sri Teh said, “2018 was marked by a more moderate economic growth, with increased headwinds on both global and domestic front and banks were faced with a more challenging business climate. Against this backdrop, the Public Bank Group was able to sustain stable profitability due to its continuous efforts to drive its loans and deposits business, coupled with the Group’s strong asset quality and prudent cost management.”
 
“With that, the Group continued to sustain its leading position amongst domestic banks with lowest gross impaired loan ratio of 0.5% and most efficient cost-to-income ratio of 33.0%, leading to net return-on-equity ratio of 14.8% for 2018,” added Tan Sri Teh.
 
With the stable financial performance, Tan Sri Teh is pleased to announce that, “Public Bank’s Board of Directors is declaring a second interim dividend of 37 sen per share. The second interim dividend will be paid on 14 March 2019 based on the dividend entitlement date of 7 March 2019. Together with the first interim dividend of 32 sen per share, the full year dividend for 2018 amounts to 69 sen. This represents a total dividend payout of RM2.7 billion and 47.9% of the Group’s net profit for 2018.”
 
Healthy Growth in Loans and Deposits
 
For 2018, the Public Bank Group achieved a healthy loans growth of 4.2%. The Group’s lending strategy remained focused on consumer financing for the purchase of residential properties and passenger vehicles, as well as extension of credit to small and medium enterprises for purchase of commercial properties and working capital. The Group continued to retain leading market share of 19.8% for residential property financing and 35.2% for commercial property financing.
 
The Public Bank Group’s total customer deposits achieved a total growth of 6.2% to RM339.2 billion in 2018. This deposit growth contributed to the Group’s strong funding position, as reflected in its gross loan to fund and equity ratio of 79.0% as at the end of 2018.
 
Tan Sri Teh said, “The competition for loans and deposits in the banking sector was highly intense in 2018. However, the Public Bank Group continued to uphold prudent credit assessment, so as to preserve its asset quality and protect its returns, while sustaining its market position.”
 
Continued Profitability in Fee-Based Segments
 
Arising from heightened volatility in the global financial market and the more cautious sentiment in the macro environment, growing fee-based business had been a challenge in 2018. However, the Public Bank Group’s unit trust and banking transaction businesses continued to generate positive fee income growth for the Group.
 
Tan Sri Teh highlighted that, “Public Mutual, Public Bank’s wholly-owned subsidiary, remained a major contributor to the Public Bank Group’s non-interest revenue. In 2018, Public Mutual remained the market leader in the domestic private unit trust business, as it continued to capture largest retail market share of 37.2%, with a total of 147 unit trust funds which amounted to a net asset value of RM78.7 billion under its management.”
 
Leading Cost Efficiency
 
In 2018, the Public Bank Group maintained the most efficient cost-to-income ratio among peers at 33.0%, far outpacing the domestic banking system’s cost-to-income ratio of 44.8%.
 
Tan Sri Teh reiterated, “When most banks are encountering higher pressure on earnings and rising costs, the Public Bank Group’s long term commitment in prudent cost discipline has enabled the Group to maintain high productivity and preserve its profitability. The Group’s leading cost efficiency also allows more headroom for the Group to efficiently invest and deploy resources such as financial technology, human capital and banking infrastructure to upscale the Group’s products and services.”
 
Sustaining Superior Asset Quality
 
As at the end of 2018, the Public Bank Group continued to maintain a low gross impaired loans ratio of 0.5%, well below the domestic banking system’s gross impaired loans ratio of 1.5%.
 
Tan Sri Teh added, “Further, the Public Bank Group’s loan loss coverage ratio stood high at 126.0% as at the end of 2018. Including the RM1.8 billion regulatory reserves that the Group had set aside, the Group’s loan loss coverage ratio would be 237.5%. This has provided the Group a strong buffer to weather any uncertainties ahead.”
 
Overseas Operations
 
In 2018, the Public Bank Group’s overseas operations contributed 9.7% to the Group’s overall pre-tax profit, largely contributed by Public Financial Holdings Limited Group in Hong Kong (“PFHL”) and Cambodian Public Bank Plc (“Campu Bank”).
 
Tan Sri Teh added, “Both subsidiaries contributed close to 90% of the pre-tax profit of the Group’s overseas operations. In addition to PFHL and Campu Bank, the Group is also actively expanding its business in Vietnam. With the opening of 5 new branches in 2018, the Group has expanded its branch network to a total of 18 branches in Vietnam as at the end of 2018, with plans to open more branches in 2019. This will further expand the Group’s market reach in order to optimise business opportunities in Vietnam.”
 
Healthy Capital Position
 
As at the end of 2018, the Public Bank Group’s capital position remained at healthy levels. After payment of the second interim dividend, the Group’s common equity Tier 1 capital ratio, Tier 1 capital ratio and total capital ratio will stand at 13.1%, 13.7% and 16.3% respectively.
 
Tan Sri Teh commented, “The Public Bank Group monitors closely its capital position to ensure its capital level complies with regulatory requirement, while sufficient capital resources and buffers are available to support business growth and pursue strategic business opportunities.”
 
Group’s Prospect
 
In 2019, despite the challenging external headwinds posing downside risks to the domestic environment, the Malaysian economy is expected to remain on a steady growth path. Underpinned by the resilience in private sector activity, the overall outlook for the domestic banking sector is likely to remain stable. There will be continued growth opportunities for the domestic banking industry underscored by ongoing demand for affordable housing and the growing small and medium enterprises.
 
Tan Sri Teh concluded, “With the mass market being its key targeted segment, the Public Bank Group continues to expect growth arising from the growing private sector economy. As the Group continues to focus on organic growth strategy, the Group will continue to sharpen its competencies to strengthen its long term growth momentum. Notwithstanding this, in the face of an evolving environment, the Group will always remain vigilant to risks. Reinforcing the values of good governance and integrity will remain the priority of the Group in pursuit of business growth in the way forward.”
 
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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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Tan Sri Dato’ Sri Dr. Teh Hong Piow Conferred Honorary Doctorate of University by Sunway University

For Immediate Release

29 January 2019

Tan Sri Dato’ Sri Dr. Teh Hong Piow Conferred Honorary Doctorate of University by Sunway University
 
Public Bank’s Founder, Chairman Emeritus, Director and Adviser, Tan Sri Dato’ Sri Dr. Teh Hong Piow’s banking acumen continued to be recognised with the conferment of the degree of “Honorary Doctor of the University” by Sunway University.
 
The Honorary Doctorate is in recognition of the outstanding contribution of Tan Sri Dato’ Sri Dr. Teh Hong Piow for overseeing the evolution of Public Bank into a modern and integrated financial institution and for his outstanding contribution to the growth of the banking and finance industry in Malaysia.
 
The award was presented by Tan Sri Dato’ Sri Dr. Jeffrey Cheah, Chancellor of the Sunway University at a ceremony held at the Sunway Resort Hotel & Spa on 28 January 2019, attended by all Public Bank Group board members and 1,200 senior staff.
 
Tan Sri Jeffrey Cheah in his speech said, “Tan Sri Teh’s name was foremost in our mind when we were selecting an individual that personifies the ideals of the honorary doctorate. My hope is that Tan Sri Teh’s achievements, attributes and life journey will be an inspiration to our students”.
 
“Sunway University is very pleased to be associated with Tan Sri Teh, a man of great stature, who built Public Bank from ground up in 1966. Public Bank has not only become a household name, it has held the record of over 50 years of unbroken profitability,” he said.
 
“Tan Sri Teh and I share many similarities. Both of us built our companies from scratch. We both had a dream and a vision, and worked hard to make it a reality. Both of us came from backgrounds that shape our values and who we are today. And one of these values that he holds, of which I regard highly, is Integrity.” he further added.
 
Tan Sri Teh in acknowledging the award said, “I am deeply honoured and touched to be conferred such a high honour and because it is not always that a man of 89 years of age gets to receive awards, let alone be conferred an Honorary Doctorate.”
 
“In banking, I found my true vocation. For me, it was never just a job. It is therefore an uplifting experience for me to be recognised and rewarded for doing the things that I truly enjoy. I guess there may be some truth to the saying that “pleasure in the job puts perfection in the work”. Now as Chairman Emeritus of Public Bank, my passion for banking has not ebbed nor do I find its challenges any less exciting.”
 
“Public Bank has been my life’s work. When I founded it 53 years ago, I envisioned a Bank that would last generations. Indeed, Public Bank has everything it needs to do so - an excellent senior management team, motivated employees, shared values across the organisation and a strong desire to succeed,” he said.
 
Tan Sri Teh further added that his 53 years’ journey in bringing Public Bank to where it is today has been eased by the tireless contribution of a united team of committed, knowledgeable and dedicated employees and took the opportunity to extend his deepest appreciation to the board, management team and staff for their perseverance in upholding the image of the Bank.
 
With this latest award, Tan Sri Teh has amassed 43 personal-to-holder awards of lifetime excellence and achievements and exemplary leadership, which included an honorary PhD from University Malaya in 1989. 

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Tan Sri Jeffrey Cheah, Chancellor of the Sunway University presenting the Degree of “Honorary Doctorate of University” to Tan Sri Teh Hong Piow.

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Tan Sri Teh Hong Piow Accorded The Best of Best Brand Leadership Award 2018 – Overall Championship

For Immediate Release

21 December 2018

Tan Sri Teh Hong Piow Accorded The Best of Best Brand Leadership Award 2018 – Overall Championship

Public Bank’s Founder and Chairman, Tan Sri Dato’ Sri Dr. Teh Hong Piow has done it again with the latest award of the “The Best of Best In Brand Leadership Award 2018 – Overall Championship” by the Asia Pacific Brands Foundation.
 
The award was presented by Dr. KKJohan, President, The BrandLaureate at a ceremony held at the Majestic Hotel, Kuala Lumpur on 20 December 2018.
 
This latest personal-to-holder award is in acknowledgement of Tan Sri Teh’s leadership, one that not only brought success to Public Bank but also inspires and motivates many with his vision and wisdom.
 
Dr. KKJohan in his citation said, “As the key driving force of Public Bank, Tan Sri Teh has steered the Bank to become the largest private bank in Malaysia for the past 50 years with your leadership; a leadership that is well grounded on the foundation of strong vision, diligence, innovation, integrity, responsibility and concern.”
 
“In Corporate Malaysia, Tan Sri Teh’s leadership is hard to match and it has become the benchmark of excellence for the industry and for leaders who aspire to become a strong and dynamic Founder and Chairman like your goodself,” he said.
 
“It is amazing that at 88, many would have rested on their laurels. However, Tan Sri Teh, despite his age, still possesses the zest, passion and determination to see the love of his life, Public Bank, continue to grow and prosper. Having been through many stress tests in his 50 over years of banking including the various financial crisis, one can only be in awe of his business acumen,” he further added.
 
Tan Sri Teh in acknowledging the award said, “Being the Founder and Chairman is a coveted position which is more than simply ‘calling the shots’. It means earning respect and inspiring the entire organisation to pursue excellence for the good of the company.”
 
“Excellence requires discomfort. It cannot be an exception but has to be a prevailing attitude. To arrive at excellence, everyone must adopt the dream as a blueprint and consistently prescribe to a set of shared values.”
 
“In Public Bank, traditional values still hold true. When one is a custodian of public funds and is entrusted with the commodity called money, there is no substitute for integrity, trust and good governance. That is why I always subscribe to the principle that we ‘Do the right thing’ even when nobody is looking,” added Tan Sri Teh.
 
Tan Sri Teh dedicated the award to the Management team and all staff of the Public Bank Group for their unwavering commitment to excellence and loyal dedication for continuous success which have played a large part in him winning the award.
 
At the same night, Public Bank was also bestowed with The BrandLaureate CSR BrandLeadership Awards 2018 - Leadership in CSR.
 
With these latest awards, the Bank has received more than 580 corporate awards of excellence and distinction and Tan Sri Teh has amassed 42 personal-to-holder awards of lifetime excellence and achievements and exemplary leadership.

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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 Red Carpet Banking (RCB) Exclusives and PB RCB Mastercard Premier Debit Cards

For Immediate Release

7 December 2018

Public Bank Launches the Red Carpet Banking (RCB) Exclusives and PB RCB Mastercard Premier Debit Cards
 
Public Bank Berhad has on 7 December 2018 launched the Red Carpet Banking (RCB) Exclusives and PB RCB Mastercard Premier Debit Cards which marks an important milestone for the Bank in growing the Bank’s high networth customer base.
 
To-date there are seven (7) RCB Centres located at Wilayah Persekutuan, Johor and Melaka. Moving forward to 2019, Public Bank will expand its RCB services throughout the country to reach broader high networth market and enable more customers to enjoy the RCB benefits and privileges offered by the Bank.
 
The launches of RCB Exclusives and PB RCB Mastercard Premier Debit Cards took place at W Hotel Kuala Lumpur. Present at the launch were Tan Sri Dato’ Sri Tay Ah Lek, Managing Director of Public Bank Berhad, Dato’ Chang Kat Kiam, Deputy Chief Executive Officer of Public Bank Berhad, together with Mr. Perry Ong, Country Manager, Malaysia and Brunei of Mastercard.
 
Tan Sri Dato’ Sri Tay Ah Lek highlighted “The RCB Exclusives offers RCB customers abundance of benefits such as PB RCB Premier Fixed Deposit / Term Deposit–i Campaign, PB RCB Current and Savings Account Campaign, RCB Membership Sign-Up Campaign and RCB Customer Referral Programme.
 
The PB RCB Premier Fixed Deposit / Term Deposit-i Campaign offers FD interest rates / profit rates of up to 4.4% p.a. for 12-month placement while PB RCB CASA Campaign offers 4 types of luxury gift items i.e. Breville Barista Express, Okamizu Food Detoxifier, Grubel Wine Chiller and Lushberry 20” Trolley case for RCB customers who place a prescribed fresh deposit amount into CASA.”
 
In addition, the RCB Membership Sign-Up Campaign offers a selection of sign-up gift exclusively for new RCB members such as Morgan Mini Bar, Panasonic Nanoe Air Purifier, Cuckoo Multi Cooker and Noritake Hampshire Gold Dinner Set. The RCB Customer Referral Programme offers generous rewards to our existing RCB members for every successful referral.
 
In conjunction with the launch of the RCB Exclusives, two (2) new PB RCB Mastercard Premier Debit Cards namely RCB Elite Debit Card and RCB Gold Debit Card, were specially designed and exclusively issued to premier RCB Elite and the RCB Gold members. Both of the PB RCB Mastercard Premium Debit Cards serve as the membership card for the RCB member and allow customers to earn VIP Points on their retail purchases. The VIP Points can be used to redeem items or AirMiles points through PB Redemption Catalogue.
 
Tan Sri Dato’ Sri Tay Ah Lek said, “To mark the occasion, Public Bank will be rewarding our RCB Elite and Gold Debit card holders with three (3) exclusive launch campaigns namely Bonus Activation Points of up to 10,000 VIPS Points, 5% Cash Back on Online and Overseas Transactions and Complimentary Access to Plaza Premium Lounge in Malaysia. These campaigns are aimed not only to reward RCB members, but also to complement their globetrotting lifestyle.”
 
Mr. Perry Ong, Country Manager, Malaysia and Brunei, Mastercard, said, “Mastercard is pleased to partner with Public Bank on the launch of PB RCB Mastercard Premier Debit Cards that will cater to the evolving needs of the country’s growing premium customer segment. These debit cards are better than cash and ATM cards, and will deliver exclusive experiences across dining, luxury accommodations, shopping and entertainment. The new debit cards are also great for travel as they will allow cardholders to make secure and convenient purchases overseas at merchant locations that accept Mastercard.”
 
Public Bank will continue to expand its RCB business throughout the country and focus in enhancing our RCB benefits and privileges to distinguish ourselves from our competitors by offering optimum banking and financial services to our premier customers.
 
To find out more about RCB Exclusive campaigns, customers are welcomed to visit any of our RCB Centres or contact the RCB Centres during normal working hours as follows:
 
  • Kuala Lumpur City Main Office
03-2176 6717
  • Bukit Damansara
03-2093 8318
  • SS2
03-7877 6000
  • Jalan Raja Chulan
03-2036 8999
  • Mont Kiara
03-6205 2202
  • Taman Melaka Raya
06-281 8822
  • Taman Johor Jaya
07-353 2288

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From Left: Ms. Chan Chiew Peng, Senior General Manager of Retail Financial Services of Public Bank, Tan Sri Dato’ Sri Tay Ah Lek, Managing Director and Chief Executive Officer of Public Bank, Dato’ Chang Kat Kiam, Deputy Chief Executive Officer of Public Bank, Ms. Carene Khoo Geok Kheng, Director, Wealth Management & Transaction Banking of Public Bank.

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From Left: Tan Sri Dato’ Sri Tay Ah Lek, Managing Director and Chief Executive Officer of Public Bank, Mr. Perry Ong, Country Manager, Malaysia and Brunei of Mastercard, Dato’ Chang Kat Kiam, Deputy Chief Executive Officer of Public Bank, Ms. Chan Chiew Peng, Senior General Manager of Retail Financial Services of Public Bank.

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Public Bank Launches All-In-One Digital Payment Platform

For Immediate Release

8 November 2018

Public Bank Launches All-In-One Digital Payment Platform
 
Public Bank Berhad (“Public Bank”) is partnering with REVENUE Group Berhad (“REVENUE” or the “Company,” Bloomberg: REVENUE:MK, Reuters: REVE.KL) to launch the all-in-one digital payment terminals.
 
This all-in-one digital payment terminal has been successfully piloted at selected merchant outlets of Public Bank and will be made available beginning 9 November 2018.
 
The first all-in-one digital payment terminal in Malaysia, developed by REVENUE, will simplify the payment acceptance process as it will enable the physical retail merchants to accept both card payments and mobile wallet payments in a single digital payment terminal thus providing convenience to them.
 
The all-in-one digital payment terminal, a fashionable and compact payment device, is powered by the Android operating platform. It comes with a high definition colour touch screen display and a super fast thermal printer that is neatly hidden below so as to maximise the screen usage for customer performing the electronic transactions.
 
The digital payment terminal has a wide range of connectivity, including 3G, 4G, WiFi and Bluetooth networks, enabling the physical retail merchants to process electronic transactions wirelessly and offer their customers a fast and convenient service experience. It also generates electronic transaction reports every business day to enhance operational efficiency.
 
Public Bank’s Managing Director and Chief Executive Officer Tan Sri Dato’ Sri Tay Ah Lek said, “The digital payment terminal is another ongoing initiative in Public Bank’s digital journey. As at end September 2018, Public Bank has more than 60,000 Electronic Data Capture (“EDC”) terminals nationwide. The Bank will continue with its strategy of increasing its merchant base and adding on more new acceptance services. This is also in-line with Bank Negara’s vision to promote cashless society among consumers. The new all-in-one digital payment terminal will enable the Bank to provide added benefits to new and existing merchants.”
 
Public Bank has a diverse and wide range of merchants spanning across a variety of industry sectors, including food and beverages, retail, fashion, electronics, telecommunications and petrol stations.
 
Attending the launch of this all-in-one digital payment terminals are Public Bank’s valued merchant partners such as AA Pharmacy, Alpro Plus Pharmacy, Hong Kong Sasa, L’occitane and Popular Bookstore.
 
Mr. Eddie Ng Chee Siong, the Managing Director and Group Chief Executive Officer of REVENUE said, “With the rapid development of payment technologies in Malaysia, the all-in-one digital payment terminal will enable its customers to manage a diverse range of payment more efficiently.  As Malaysia is moving towards a cashless society, we are committed to develop innovative product and solution that will help our customers grow their businesses in a fast and evolving operating condition. The all-in-one digital payment terminal will help our customers to strengthen their payment and cash management capabilities.”
 
REVENUE’s all-in-one digital payment terminals can handle mobile Quick Response (“QR”) code payment services including Alipay, Boost, Touch ‘n Go, UnionPay QR and WeChat Pay, as well as card payments such as Visa, MasterCard, MyDebit, JCB and UnionPay, making payment management simpler and more efficient for physical retail merchants.
 
Through this digital payment terminal, physical retail merchants will be able to accept payment through multiple channel involving QR codes, near-field communications, chip cards and traditional magnetic stripe cards.
 
The milestone event was launched by Tan Sri Dato’ Sri Tay Ah Lek, Managing Director and Chief Executive Officer of Public Bank; Dato’ Chang Kat Kiam, Deputy Chief Executive Officer of Public Bank; Mr. Eddie Ng; Mr. Brian Ng Shih Chiow, Executive Director and Group Chief Operations Officer of REVENUE and Mr. Dino Ng Shih Fang, Executive Director and Group Chief Technology Officer of REVENUE.
 
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 six 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.
 
About REVENUE Group Berhad
 
Established in 2003, with 15 years of operating history in the electronic payments industry in Malaysia, REVENUE has been servicing different customers including banks, non-bank institutions, physical store merchants, online store merchants and e-money payment scheme.
 
REVENUE’s products and services are divided into three segments, namely deployment of EDC terminals, electronic transaction processing and solutions and services related to payments infrastructure.
 
REVENUE offers a wide range of technology-led multi-channel payment solutions to different customers through its flagship platform, revPAY that provides the connectivity between front-end to back-end solutions.
 
Through its revPAY platform, REVENUE offers a single platform which facilitates the acceptance of payment transactions across various payment channels from physical EDC terminals to virtual payments (via e-commerce and mobile commerce channels) to QR Payment, thereby providing cost effective solutions to its customers.
 

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From Left: Ms. Chan Chiew Peng, Senior General Manager of Retail Financial Services of Public Bank, Dato’ Chang Kat Kiam, Deputy Chief Executive Officer of Public Bank, Tan Sri Dato’ Sri Tay Ah Lek, Managing Director and Chief Executive Officer of Public Bank, Mr. Eddie Ng, Managing Director and Group Chief Executive Officer of REVENUE, Mr. Brian Ng, Executive Director and Group Chief Operating Officer of REVENUE, Mr. Dino Ng, Executive Director and Group Chief Technology Officer of REVENUE during the launching of All-In-One Digital Payment Terminal.


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Comments On The Budget 2019
Note To Editors:
This press release is issued by
Tan Sri Dato’ Sri Dr. Teh Hong Piow
Founder and Chairman of Public Bank

2 November 2018

Comments On The Budget 2019
 
We congratulate the Pakatan Harapan Government for its maiden Budget 2019 with the theme ‘A Resurgent Malaysia, A Dynamic Economy, A Prosperous Society’.  Despite the economic and fiscal challenges, Budget 2019 has been crafted with wholesome and inspiring approaches to enhance the well-being of the people as well as to promote the entrepreneurial culture among businesses for Malaysia to return to the status of “Asia Tiger”. Specifically, towards strengthening the fiscal management of the country, we applaud the unprecedented institutional reform initiatives proposed such as the Fiscal Responsibility Act, Government Procurement Act and zero-based budgeting.
 
In promoting housing for all, we welcome the various measure proposed in the Budget 2019.  These measures would benefit the low-income group, first time home buyers, government servants, and also addressing the current overhang situation of residential properties.  We note that the Government is exploring property crowdfunding under the peer-to-peer financing framework as an alternative source of financing for first time home buyers.  In this respect, Public Bank will explore its possible role in participating in this innovative mechanism to continue to support first time home buyers.
 
The Government proposes wide-ranging initiatives to further harness and unleash the potential of our key economic sectors, which include embracing the digital economy, accelerating the adoption of Industry 4.0, strengthening small and medium enterprises, further developing the logistics and transportation sector, boosting tourism and creating value-add on commodities. We commend on these forward-looking measures and the focus on these sectors, which are drivers of future growth of our country.
 
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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 Group Achieved Pre-Tax Profit of RM5.31 Billion For The First Nine Months 0f 2018

For Immediate Release

25 October 2018

PUBLIC BANK GROUP ACHIEVED PRE-TAX PROFIT OF RM5.31 BILLION FOR THE FIRST NINE MONTHS OF 2018
 
Chairman’s Review
 
For the first nine months of 2018, the Public Bank Group continued to make business progress despite the challenging operating environment and reported a pre-tax profit of RM5.31 billion, up 2.9% from the corresponding period in 2017. Net profit attributable to shareholders rose by 5.0% to RM4.19 billion from RM3.98 billion recorded in the previous corresponding period.
 
The Founder and Chairman of Public Bank, Tan Sri Dato’ Sri Dr. Teh Hong Piow said, “In the environment marked by rising uncertainties and persistent volatility, the Public Bank Group continued to uphold profitability growth, driven largely by its organic growth strategy in its loans and deposits businesses, coupled with its strong and stable asset quality and cost efficiency. These enabled the Group to continue delivering a leading set of financial performance indicators amongst its peers, with its net return on equity standing at 14.7%, cost-to-income ratio at 33.0% and gross impaired loans ratio at 0.5%.”  
 
For the 3rd quarter of 2018, the Group reported a net profit of RM1.38 billion. This reflects a growth of 1.6% from the operational net profit of RM1.36 billion achieved in the previous corresponding quarter, after excluding a one-off capital gain on investment of RM43 million.
 
Loans and Deposits Growth Remained Healthy
 
The Public Bank Group’s market leadership position in financing for the purchase of residential property, commercial property and passenger vehicles continued to drive the Group’s interest income. In the first nine months of 2018, total gross loans rose by an annualised rate of 4.4% to RM314.5 billion. Domestic loans grew at similar pace at an annualised rate of 4.4% to RM291.6 billion.
 
On the funding side, the Public Bank Group continued to uphold resilient growth in deposits. Total customer deposits grew at an annualised rate of 6.5% to RM334.9 billion, while domestic deposits rose by an annualised rate of 6.3% to RM307.0 billion.
 
Tan Sri Teh commented, “As a result of this performance, coupled with the Public Bank Group’s prudent liquidity management, the Group sustained a healthy gross loan to fund and equity ratio of 79.4% as at the end of September 2018.”
 
Contribution from Non-interest Income
 
In the first nine months of 2018, the Public Bank Group’s non-interest income was largely driven by the Group’s unit trust business, banking transactional income and foreign exchange related business.

Tan Sri Teh said, “Public Mutual, the Public Bank Group’s wholly-owned unit trust management subsidiary, remained the largest contributor to the Group’s non-interest income. For the first nine months of 2018, Public Mutual recorded a pre-tax profit of RM509 million, 5.3% higher as compared to the same period last year. As at the end of September 2018, with a total of 146 unit trust funds under management representing net asset value of RM83.4 billion, Public Mutual captured a significant retail market share of 40.6%, sustaining its top ranking in the domestic private unit trust industry.”

Continued Disciplined Cost Management
 
The Public Bank Group’s cost-to-income ratio continued to stand at an efficient level of 33.0% in the first nine months of 2018, as compared to the industry’s cost-to-income ratio of 44.8%.
 
Tan Sri Teh added, “Amid rising cost pressure, the Public Bank Group has been able to sustain the lowest cost-to-income ratio as compared to peers. This testifies to the Group’s ongoing effective measures in driving cost efficiency. This has also enabled greater capacity for the Group to pursue its growth strategy.”
 
Strength in Asset Quality Maintained
 
As at the end of September 2018, the Public Bank Group continued to sustain a low gross impaired loans ratio at 0.5%. Despite its strong asset quality, the Group maintained a high loan loss coverage of 110.2%. Including the regulatory reserves of RM2.0 billion, the loan loss coverage was at 235.8%.

Tan Sri Teh highlighted, “While the Public Bank Group is faced with intense competition in growing its financing portfolio and has always strived for sustained profitability growth, the Group has always emphasised on maintaining strength in its asset quality.”
 
Overseas Operations
 
For the first nine months of 2018, the Public Bank Group’s overseas operations contributed 9.5% of the Group’s overall pre-tax profit. Public Financial Holdings Limited Group in Hong Kong and Cambodian Public Bank Plc remained the largest contributors to overseas operations profit.
 
Tan Sri Teh added, “For the first nine months of 2018, excluding the effect of foreign exchange, the Group’s overseas operations achieved a pre-tax profit growth of 8.8%. In particular, Cambodian Public Bank achieved a commendable growth of 21.3% in pre-tax profit as compared to the same period last year.”
 
Healthy Capital Position
 
As at the end of September 2018, the Public Bank Group’s common equity Tier 1 capital ratio, Tier 1 capital ratio and total capital ratio stood at 12.6%, 13.2% and 15.8% respectively.
 
Tan Sri Teh added, “Maintaining a healthy capital position will continue to be a strategic action for the Public Bank Group to support its pursuit of business growth strategy while meeting regulatory requirement.”
 
Group’s Prospects
 
The macro environment has been increasingly challenging in 2018, with the GDP growth for the first half of the year moderated to 4.9%. As uncertainties linger, economic growth is expected to moderate in the short term going forward. 
 
However, Tan Sri Teh said, “The Malaysian economy will continue to remain on steady growth trajectory. The domestic financial system, as the backbone of the economy, has remained resilient to support growth.”
 
Tan Sri Teh concluded, “Taking cognisance of the challenges in the operating environment, the Public Bank Group will reinforce its prudent and effective balance sheet management to sustain profitability. The Group’s long term practice of cost efficiency, prudent risk management and agility to capture opportunities will continue to lead the Group for sustainable business growth.”
 
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Y.Bhg. Tan Sri Dato' Sri Dr. Teh Hong Piow
Founder and Chairman of Public Bank

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Tan Sri Teh Hong Piow voted as the MAN OF THE YEAR by The BrandLaureate Hall Of Fame

For Immediate Release

17 October 2018

Tan Sri Teh Hong Piow voted as the MAN OF THE YEAR by The BrandLaureate Hall Of Fame
 
Public Bank’s Founder and Chairman, Tan Sri Dato’ Sri Dr. Teh Hong Piow has added another feather to his already illustrious cap with the latest award ‘The BrandLaureate Hall of Fame – Lifetime Achievement Award 2018 – MAN OF THE YEAR’ by the Asia Pacific Brands Foundation.
 
The award was presented by Dr. KKJohan, President, The Brand Laureate at a ceremony held in Singapore on 16 October 2018.
 
This latest personal-to-holder award is in recognition of Tan Sri Teh’s conviction, determination, passion and resilience in building the PB Brand to a coveted position.
 
Dr. KKJohan in his citation speech said, “As the Founder and Chairman of Public Bank, Tan Sri Teh sets forth his vision with much passion, and commitment.  With his distinctive and dynamic leadership, Tan Sri Teh has steered Public Bank and its portfolio of brands to a desired position as a financial conglomerate.
 
“Your milestones and achievements are a result of your conviction, determination, passion and resilience to build the brand. You have set new trends and best practices, left your footprint in the nation and impacted the lives of many with your leadership and entrepreneurial spirit.  You are truly a source of inspiration to many aspiring ‘Brandpreneurs’ and the pride of your country,” he said.
 
Tan Sri Teh in acknowledging the award said, “To be an entrepreneur is tough. But to be a Brandpreneur – that requires one to have a strong belief in the power of one’s own brand and to inject into it a healthy dose of entrepreneurial spirit to win the hearts, minds and wallets of customers.”
 
“For an organization to be a brand leader, it is not only about the way we think our business.  It is also about the way its people act and stay true to its core values and principles. Oprah Winfrey, once said, “Let excellence be your brand. When you are excellent, you become unforgettable.”
 
“One may say that I am of the ‘old school’ when it comes to how we conduct ourselves. However, I believe core values like integrity, hard work, commitment and a sense of professionalism bespoke one’s personal brand”, added Tan Sri Teh.
 
Tan Sri Teh dedicated this award to “all the people who have worked alongside with me, be it past or present. They are the unsung heroes who have helped me to build a successful bank. It is mentioned that ideas can be stolen but no one can steal execution and passion and that is the hallmark of Public Bank’s success.”
 
At the same ceremony, Public Bank was also the recipient of The BrandLaureate BRAND OF THE YEAR Award 2018 for having fulfilled the selection criterion of Brand Strategy, Brand Culture, Brand Innovation, Brand Loyalty, Brand Communication and Brand Leadership. It is an affirmation of the PB Brand supremacy and excellence.
 
With these two awards received, one for the Bank and one a personal-to-holder to the Founder and Chairman, Public Bank will continue to strive for wider trust from the public to meet the expectations of the stakeholders.
 
As at todate, Public Bank has amassed more than 580 corporate awards of excellence and distinction, while Tan Sri Teh has accumulated 40 personal-to-holder awards of lifetime achievements and exemplary leadership.
 
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Y.Bhg. Tan Sri Dato' Sri Dr. Teh Hong Piow
Founder and Chairman of Public Bank
 
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