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

27 January 2021

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

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

PB Golden Fortune, brings you Prosperity with Exquisite Gift

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

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

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

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

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Information about the Golden Fortune 2021 campaign

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

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

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Information about the e-Ang Pow Campaign

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

11 January 2021

Public Bank Offers Loan Repayment Relief For Customers Affected By Floods

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

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

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

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

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Statement by the Public Bank Group
FOR IMMEDIATE RELEASE
 

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

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

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

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

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

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

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

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

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

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

For further details, customers may visit any of PBB/PIBB’s branches, log on to PIBB’s website at www.publicislamicbank.com.my or call the toll-free number at 1-800-22-5555 during normal working hours. Terms and conditions apply.
 
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Comments On The Budget 2021
For Immediate Release
 
6 November 2020

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

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Public Bank Remains Committed to Provide Targeted Repayment Assistance After 30 September 2020
For Immediate Release
 
21 October 2020

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

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

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

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

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

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