Tan Sri Dato’ Sri Dr. Teh Hong Piow, Public Bank’s Founder, Chairman Emeritus, Director and Adviser was awarded BrandLaureate’s “Brand Icon Leadership Award – Greatest Brand Icon of the Decade Leadership Award” in an award ceremony held on 17 December 2019 at The Majestic Hotel Kuala Lumpur.
 
Not only that, the institution he founded was also awarded the The BrandLaureate ICONIC Brand of the Decade – Industry Champion in Banking.
 
BrandLaureate’s World President Dr. KKJohan in a citation said “This award is only reserved for the deserving best who has arrived at the pinnacle of success through his contributions to his brand, industry and nation.”

For the first nine months of 2019, the Public Bank Group’s profit performance remained stable, on the back of a 2.3% growth in total revenue to RM16.78 billion. Achieving a pre-tax profit of RM5.31 billion and net profit attributable to shareholders of RM4.11 billion, Tan Sri Dato’ Sri Dr. Teh Hong Piow, the Founder, Chairman Emeritus, Director and Adviser of Public Bank said, “Recent developments in the operating environment posed further challenges to the banking industry. While macro headwinds remain, the reduction in Overnight Policy Rate in May 2019 had also resulted in the decline in net interest margins for the banking sector, which affected the profit for the first nine months ended September 2019.”

Tan Sri Teh further added, “Despite these concerns, the Public Bank Group was able to sustain stable profit performance, mainly on account of the stable interest income from its growing financing and deposit business. The Group’s profitability was also complemented by its non-interest income which grew by 5.8% in the first nine months of the year. During the financial period, the Group also retained its competitive strength, as reflected in its efficient cost-to-income ratio of 34.3% and low gross impaired loans ratio of 0.5%. As a result, the Group sustained a resilient net return on equity of 13.3%.”

​Concluding, he said: “The Public Bank Group’s fundamental strength will continue to position the Group for future growth and to develop new competitive strength centred on the Group’s strategy to continue delivering values to its stakeholders.”

Cambodian Public Bank Plc (“Campu Bank”) signed a Memorandum of Understanding (“MOU”) with China Construction Bank (Malaysia) Berhad (“CCBM”) to establish a collaboration to jointly promote and develop business opportunities between both banks for their customers in the Kingdom of Cambodia, Malaysia, and the People’s Republic of China.
 
The MOU signing ceremony held on 24 October 2019 at Menara Public Bank was attended by Tan Sri Dato’ Sri Tay Ah Lek, Managing Director, Dato’ Chang Kat Kiam, Deputy Chief Executive Officer and Datuk Phan Ying Tong, Regional Head of Indo-China Operations. Meanwhile CCBM was represented by Mr. JiZhi Hong, Executive Vice President and Mr. Felix Feng Qi, Chief Executive Officer. Senior management staff of both banks were also present.
 
The signing of the MOU represents an extension of the successful business collaboration between Public Bank and China Construction Bank which commenced since 2016 for cross border financing, financial advisory, remittance, client credit assessment and referrals.
 
Campu Bank with a strong presence in the Kingdom of Cambodia since 1992 has grown into one of the leading foreign-owned banks with 31 branches and has contributed significantly to the development of the financial industry in the Kingdom of Cambodia.
 
Tan Sri Tay said, “The MOU signing is timely as Cambodia is experiencing rapid growth with consistent GDP of 7% for the past five years coupled with strong influx of investors from People’s Republic of China. Public Bank and China Construction Bank will be able to leverage on each other’s strength to propel our business to greater heights”.
 
CCBM is a tier 1 wholly-owned subsidiary of China Construction Bank Corporation which is the world’s second largest bank in terms of total assets. The signing of the MOU was also in conjunction with the opening of China Construction Bank Corporation Labuan Branch, a tier 1 branch of CCBM which was established with the aspiration of becoming a regional ASEAN bank in facilitating close bilateral relationships between ASEAN countries and China.

Public Bank Sarawak Region opens its first RCB centre in East Malaysia at Miri branch on 18 October 2019. Located at the mezzanine floor within the new Miri branch premises in Miri Times Square, it is the ninth RCB centre nationwide.

Exclusive invitations were extended to potential RCB members and over 220 high networth guests were present including solicitors, property valuers, loyal customers and business associates.

Special guest, Datuk Sebastian Ting, Assistant Minister of Tourism, Arts & Culture Cabinet of Sarawak, Regional Manager of Sarawak Region, Mr. Chua Ko Onn and Mr. Law Ted Leong, Branch Manager of Miri Branch were present during the ribbon cutting ceremony. The RCB Head, Ms. Brenda Ng and the dedicated Relationship Managers and RCB Executives were also introduced to the attendees.

Other highlights of the event were ‘Estate Planning’ talk by Mr. Jackie Chia from AIA Berhad and ‘Living Trust’ talk by Ms. Christine Peter from Public Trustee Services Berhad. The event was further hyped up with two lucky draw sessions where eight lucky guests received their gifts. Light refreshments were served throughout the day followed by a sumptuous lunch in the afternoon.

A total of 160 new RCB membership sign-ups was achieved, generating approximately RM20 million sales of various Bank products. The Bank will continue to expand its RCB business throughout the country to provide optimum banking and financial services to its high networth customers.

Public Bank was awarded the Highest Return on Equity (ROE) Over Three Years for the Financial Services (RM10 Billion and Above Market Capitalisation) category during The Edge Billion Ringgit Club (BRC) annual gala dinner held on 19 September 2019 at Sheraton Petaling Jaya Hotel.
 
During that event, 42 companies picked up 55 awards for being the best performers on Bursa Malaysia based on their financial performances from FY2015 to FY2018.
 
The Edge noted that “Its three-year weighted ROE from FY2016 to FY2018 far exceeded that of other financial institutions listed on Bursa Malaysia. Public Bank is known for its steady growth in and out of season.”
 
The renowned local business publication further added that the banking group has held steady despite an increasingly challenging landscape for the financial services industry, where profit margins are under pressure while financial technology is shaking up the traditional banking scene.

Public Bank was selected as one of the six Malaysian companies to be part of the Forbes Asia’s inaugural “Best Over A Billion” list.
 
The Bank was the only financial institution to make it into the list, which features Asia Pacific’s 200 top-performing listed companies with revenues of over US$1bil.
 
According to press reports, Forbes Asia in a statement said the candidates were selected from 3,200 listed companies in the region, and were evaluated based on metrics including their average five-year sales, operating income growth, return on capital, and projected growth over the next one to two years.
 
Those having the highest composite score, it said, made it into the final list.
 
“The goal is to find the region’s best-run companies that are doing well on not just one metric but across many of them. The result is a list that represents the best of Asia-Pacific’s big companies,” it said.
 
The other Malaysian companies in the list are Batu Kawan Bhd, Hap Seng Consolidated Bhd, IHH Healthcare Bhd, Kuala Lumpur Kepong Bhd and Press Metal Aluminium Holdings Bhd.
 
The statement noted that the largest companies on the list by market value were from the technology sector and located in the region’s largest markets.
 
They include internet giants Alibaba and Tencent, as well as semiconductor firms Taiwan Semiconductor Manufacturing Co. and SK Hynix.

Public Bank Group recorded pretax profit of RM3.55 billion for the first half year ended 30 June 2019 despite an increasingly challenging economic and banking environment.
 
The reduction of Overnight Policy Rate (OPR) in May 2019 had affected domestic banks’ profitability for the half year ended 30 June 2019. However, the Bank sustained stable profitability.

Tan Sri Dato’ Sri Dr. Teh Hong Piow, the Bank’s Founder, Chairman Emeritus, Director and Adviser announced, “For 2019, the Board of Directors has declared a first interim dividend of 33 sen per share, translating into a total dividend payout of RM1.28 billion.”
 
In the first half of 2019, the Bank’s total loans grew favourably by an annualised rate of 4.0% to RM323.7 billion. Domestic loans grew by an annualised rate of 4.3% (compared to the banking system’s annualised loan growth of 2.7%).
 
The Bank continued to sustain a stable gross impaired loans ratio of 0.5% (well below the banking industry’s gross impaired loan ratio of 1.6%) and efficient cost-to-income ratio of 34.2% (compared to the banking industry’s average cost-to-income ratio of 44.6%), leading to continued resilient net return on equity of 13.6% for the first half of 2019.
 
Tan Sri Teh highlighted, “The Bank’s strong asset quality continued to retain public confidence amid the challenging economic environment.”
 
Meanwhile, the Bank achieved 8.1% growth in non-interest income, mainly from higher contribution from the Group’s unit trust management business through its wholly-owned subsidiary, Public Mutual.
 
Overseas operations on the other hand, contributed 10.5% to the Bank’s pre-tax profit, mainly contributed by Public Financial Holdings Limited Group in Hong Kong and Cambodia Public Bank Plc (“Campu Bank”).
 
Tan Sri Teh added, “For the past two years, the Group had opened 11 new branches in Vietnam, and the Group is targeting to further expand its foothold in the country to 40 branches in the next three years.”
 
Going forward, the Bank will remain cautious while closely monitoring the changes in the operating environment, and undertake appropriate measures for continued business growth.

Tan Sri Teh concluded, “The Bank continues to sustain its fundamental strength, while proactively seeking to develop new initiatives, such as banking digitalisation as well as innovative and distinctive financial products, for long term business growth.”

Public Bank once again emerged as one of the top performers at the Malaysian e-Payments Excellence Awards (MEEA) 2019 held in Kuala Lumpur on 31 July 2019 securing four awards for its outstanding contribution towards the growth of Malaysia’s e-Payment ecosystem.
 
The MEEA is organised annually by Payments Network System (M) Sdn Bhd (PayNet) to recognise the outstanding achievements of banks, businesses and government agencies that have contributed significantly towards excellence, innovation and growth in electronic payments in Malaysia.
 
The accolades awarded to Public Bank Berhad (PBB) were: Top JomPAY Acquirer, Best MyDebit Bank, Top MyDebit Acquirer and Outstanding Contribution to MyDebit.
 
The awards were given out by the Assistant Governor of Bank Negara Malaysia (BNM), Encik Adnan Zaylani Mohd Zahid. On hand to receive the awards on behalf of PBB was Managing Director, Tan Sri Dato’ Sri Tay Ah Lek.
 
For the third year running, PBB was recognised as the Best MyDebit Bank in Malaysia as well as retaining the Outstanding Contribution award for MyDebit and the Top MyDebit Acquirer Award.
 
The awards won by PBB are a direct result of the bank’s strong bundling of innovative e-Payment channels with stable infrastructure to provide the best support to e-Payments under a reliable, safe and secured environment.
 
PBB will continue to provide full support to boost the country’s migration to electronic payments by launching more e-Payment initiatives and continuously enhancing its digital banking platform to improve customer experience.
 
To further accelerate the growth of cashless payments in the country, PBB had on 17 July 2019 soft launched the Malaysia’s National QR Standard known as DuitNow QR with PayNet. PBB is the first Bank adopting the standard.
 
Through DuitNow QR, users can make payment from any participating Banks or e-Wallets mobile apps. Merchants would only need to display one QR Code, the DuitNow QR, to accept payments, as opposed to the current practice of displaying multiple proprietary QR codes at payment counters.
 
PBB will roll out the DuitNow QR to the public after the two months’ pilot. The commencement of DuitNow QR will expand the existing features of DuitNow to allow users to make payments to merchants using the merchant’s DuitNow QR code.

In the first quarter of 2019, despite a challenging operating environment, Tan Sri Dato’ Sri Dr. Teh Hong Piow, the Founder, Chairman Emeritus, Director and Adviser of Public Bank Group announced the achievement of delivering pre-tax profit of RM1.82 billion for the quarter.

It is a 1.4% increase from the corresponding period in 2018. Meanwhile, net profit grew by 0.3% over the same period to RM1.41 billion.

Tan Sri Teh added, “When the operating environment was still clouded by rising headwinds and persistent uncertainties, the Group was able to sustain its performance.

With the increasingly challenging macro environment which will continue to pose downside pressure on the Malaysian banking sector, Tan Sri Teh said the ongoing demand for financing and banking products will continue to create opportunities for banks to pursue and 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,” Tan Sri Teh concluded.

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 award “Asian Corporate Director Recognition Award 2018” by the publication Corporate Governance Asia.

The Award was in recognition of the outstanding contribution of Tan Sri Dato’ Sri Dr. Teh Hong Piow for his continuous focus on the corporate governance of Public Bank.

With this latest award, Tan Sri Teh has amassed more than 40 personal-to-holder awards of lifetime excellence and achievements and exemplary leadership.

Public Bank Group continues with its philosophy of emphasising environmental sustainability in its business with the opening of their latest 40-Storey Grade A Green Office Building located at Jalan Raja Chulan, Kuala Lumpur.

Officially named Menara Public Bank 2, it is the first bank in Malaysia certified with a green building, with a pre-certified Gold rating by the Leader In Energy & Environmental Design (LEED) under the US Green Building Council as well as a Provisional Gold rating by Malaysia’s own Green Building Index (GBI).

Half of the building will serve the Group’s expansion plans, housing Public Mutual Bhd’s head office (since 16 July 2018) as well as the Bank’s Jalan Raja Chulan branch (since 25 Sept 2017).

The balance of 50% will be available for potential tenants who appreciate having a prestigious business address as well as being part of the green movement and spreading the awareness of living sustainably.

The building promotes sustainable living with facilities that help the occupants to practice green living.

A new member has joined the Public Bank Board on 1 June 2019. Ms. Tham Chai Fhong was appointed Independent Non-Executive Director and she is also a member of the Audit Committee, the Risk Management Committee and the Compliance Committee.

Holder of a Bachelor of Science (Honours) degree in Mathematics from the University of Malaya and a Postgraduate Diploma in Computer Science from University of Malaya, she possesses extensive experience in IT systems, capabilities and applications from her tenure of 26 years in IT functional areas in one of the largest banking groups in Malaysia.

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 was 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”.
 
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.”
 
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.

Public Bank has declared a pre-tax profit of RM7.10 billion for 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 Dato’ Sri Dr. Teh Hong Piow, the Founder, Chairman Emeritus, Director and Adviser of Public Bank said in the release to the press, “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.”
 
A second interim dividend of 37 sen per share was declared together with the first interim dividend of 32 sen per share, the full year dividend for 2018 amounted to 69 sen representing a total dividend payout of RM2.7 billion and 47.9% of the Group’s net profit for 2018.
 
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.

En. Syamsul Azuan bin Ahmad Fauzi has been appointed as the new Chief Executive Officer (CEO) of Public Islamic Bank on 1 February 2019.

Holder of a bachelor’s degree in Commerce and Management (Accounting) from Lincoln University, New Zealand, En. Syamsul Azuan has an immense working experience of 20 years in the corporate and investment banking field, besides having developed sturdy technical skills in Islamic finance especially on debt capital market/sukuk and corporate finance during his previous attachments at various financial institutions.
 
We warmly welcome him into the Public Bank family and we are confident that he will bring the Public Islamic team to new heights.

The 8th Red Carpet Banking Centre (RCB) opened its door at Kota Damansara on 11 January 2019 which marked another milestone for Public Bank in growing the Bank’s high networth customer base.
 
The launch was officiated by the Regional Manager of Wilayah Persekutuan/Selangor Region III, Mr. Siow Chan Chun who in his welcoming address shared the benefits and privileges offered to RCB members.
 
The session continued with talks by Public Mutual Berhad speakers, Mr. Long Shih Rome who shared on the general market outlook while Ms. Chen Yuet Fong introduced newly launched unit trust fund, PB Asia Consumer Sector Fund.
 
The Bank will continue to expand its RCB business throughout the country with the aim to transform the RCB Centre into a one-stop financial solution platform to its high networth customers.

On the 28 January 2019, Sunway Pyramid Convention Centre was full of sales staff, brimming with excitement to attend the first business event of the year – National Sales Convention 2019 - with the theme “The Way Forward”.

The event kick-started with the Review of Sales Performance 2018 and Strategies to Further Drive Sales for 2019 by Managing Director, Tan Sri Dato’ Sri Tay Ah Lek who reminded us not distracted from our goals but to remain focused and work towards bringing the Bank to a higher level of performance and achievement. Participants were also reminded on the importance of professional and ethical sales conduct.

After the review session, it was lunch. There was great anticipation as staff awaited the arrival of our Tan Sri Chairman Emeritus, Tan Sri Dato’ Sri Dr. Teh Hong Piow, to grace the occasion. As is always the case, Tan Sri Chairman Emeritus was given a robust welcome by the sales army.

In his address welcoming Tan Sri Chairman Emeritus, Tan Sri Managing Director reminded staff that early achievements of their targets augur well for both the individual sales staff and the Bank. The energised sales force then responded with a pledge of commitment led by Mr. David Yeow, Regional Manager of Wilayah Region I.
 
As is the norm, top sales performers were accorded recognition for their commendable performance. The Regional Sales Achiever Awards were presented by Tan Sri Managing Director while the overseas winners and the four champions of the National Sales Achiever Awards had the thrill of receiving their plaques from Tan Sri Chairman Emeritus.

Hundreds thronged the grounds of Sunway Lagoon Resort Hotel on 9 March 2019 to attend the Public Bank Group Management Seminar for 2019. The corporate theme of this year's seminar is “The Way Forward”. Among the 1,494 participants attending the event were the key drivers from Malaysia as well as abroad from Cambodia, Vietnam, Laos, Hong Kong and Sri Lanka.

Tan Sri Dato' Sri Tay Ah Lek, Managing Director, kicked off the seminar with his paper entitled “The Way Forward to Drive Sustainable Growth”. The Bank's overall performance for 2018 was being reviewed in detailed in our various key areas of businesses. Tan Sri Managing Director urged all key drivers to be agile so that they can swiftly and effectively adapt to changing environment in achieving our business goals.

The luncheon, which took place at the Sunway Pyramid Convention Centre started with the grand arrival of our guest-of-honour, Founder and Chairman Emeritus, Y.Bhg. Tan Sri Dato' Sri Dr. Teh Hong Piow. As always, Tan Sri Chairman Emeritus received rapturous applause of welcome from all staff as he made his grand entrance to the VVIP table. The exhilaration, energy and enthusiasm demonstrated by all participants showed that everyone is indeed very excited and delighted to see Tan Sri Chairman Emeritus.

Before the commencement of a scrumptious lunch, deserving branches were presented with the Branch Performance Awards for Year 2018. This year, a total of 104 Awards with cash prizes and trophies amounting to almost RM1.0 million were given to branches which achieved excellent performance in 2018 for their various KPIs. The Best Branch Awards and the Founder and Chairman Emeritus Awards was presented by Tan Sri Chairman Emeritus to the Winners; with Taman Desa Cemerlang Branch receiving the prestigious 2018 Founder and Chairman Emeritus Award.

A happy addition to this year’s award presentation is the announcement of winners of the “Making a Difference 4.0” Campaign. The Campaign was aimed at involving staff in the Bank's journey towards industrial revolution 4.0; be it in a new space or addressing hygiene factors. Staff are to work in teams of at least 2 members when submitting their ideas. The attractive prizes in store of RM2,000 for the top 30 teams, RM5,000 for the 7 consolation teams as well as RM10,000, RM20,000 and RM30,000 for the 2^nd runner up, 1^st runner up and champion respectively garnered more than 1,000 ideas submitted by a total of about 200 teams. Competition was tough with the teams being put through the preliminary stage as well as 2 tiers of judging by internal judges before 26 teams were being selected for the Proof of Concept presentation to external judges. This was followed by the final round of judging by top management. Champions of the Campaign were Ms. Lee Ee Ling and Ms. Liau Wei Lin of the PBB Bandar Sri Damansara team.  Our congratulations to them and all other Campaign winners!