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.
 
Caption: 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.

Public Bank Berhad (PBB) emerged as the biggest winner for the Malaysian e-Payments Excellence Awards (MEEA) 2020.
 
Clinching eight awards for its outstanding contribution towards the growth of Malaysia’s e-payment ecosystem, the Bank won Best e-Payment Bank, Best IBG Bank, Best Customer Experience (FPX), Best JomPAY Bank, Best MyDebit Bank, Top JomPAY Acquirer, Top MyDebit Acquirer and Outstanding Contribution to MyDebit.
 
The MEEA is organised annually by the nation’s network and shared central infrastructure for Malaysia’s financial markets, Payments Network Malaysia Sdn Bhd (PayNet) to recognise outstanding achievements of banks, businesses and government agencies that have contributed significantly towards excellence, innovation and growth in electronic payments in Malaysia.
 
The awards recognised PBB’s effort in propelling e-Payments in Malaysia to greater heights which include usage, acceptance, growth, reliability, customer engagement and experience.
 
This is the second time PBB won the Best e-Payment Bank and for the fourth year running, PBB is recognised as the Best MyDebit Bank in Malaysia as well as retaining the award of Outstanding Contribution to MyDebit and MyDebit Top Acquirer Award.
 
PBB is committed and focused in driving e-Payments by providing customers and the public with alternative channels to transact more reliably, securely and efficiently at their convenience as a new norm for the nation to curb the spread of COVID-19 by reducing the physical contact between buyers and traders.
 
One of them is the Bank’s PBe QR, a simple, secure and seamless way for merchants to accept payment from their customers.
 
Powered by PayNet’s DuitNow QR, the general public can make payment from any participating Banks or e-Wallets mobile apps. Merchants would only need to display the DuitNow QR, to accept payments without having to display multiple proprietary QR codes at payment counters.
 
The usage of QR codes will reduce cash usage and increase digital financial inclusion for all Malaysians. The technology removes the need for customers to carry cash which liberates both customers and merchants from the risks of carrying cash.
 
PBe QR is a game changer as it enables businesses of all categories to accept payments easily at no cost. For a limited period, PBe QR will be offered to registered merchants at zero fees. PBe QR is opened for registration at Public Bank’s official website.

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 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 Group recorded a resilient net return on equity of 11.3% in the first nine months of 2020 with cost-to-income ratio of 35.2% 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%,” Tan Sri Teh said.
 
Managing Impact of COVID-19
 
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. These programmes include repayment packages which suit varying customers’ financial conditions. Also 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 the Public Bank Group’s active participation in all the various financial relief measures has benefitted more than 1.8 million customers.
 
In conclusion, Tan Sri Teh said, “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.”

Repayment Assistance Clinics (PBB RAC) were held at major cities and towns nationwide on Saturday and Sunday for six weeks, starting from 19 September 2020.
 
At the PBB RAC, Public Bank provided advisory services and application assistance for customers who pre-registered to seek further help after the 6-month loan moratorium ended on 30 September 2020.
 
Customers also submit their applications for rescheduling of their repayment plans through Public Bank’s digital platform via the Bank’s website at https://apply.pbebank.com/pbrnr.
 
Public Bank Managing Director and Chief Executive Officer, Tan Sri Dato’ Sri Tay Ah Lek said, “As part of its relief measures, Public Bank has developed repayment assistance packages which suit different customer’s financial conditions. The Bank has also been very proactive in engaging customers about the relief measures in place. In addition to the digital platform which enabled customers to submit online application, we organised the weekend PBB RAC as an additional channel for customers who needed further assistance on application. This also provided further convenience to customers who are unable to visit our branches during weekdays.”

Public Bank is known for many things, from being a bank for the public, to having a stellar reputation of achieving unbroken track record in profitability since its inception, to being the darling of shareholders.
 
In its filing with the stock exchange on 8 December 2020, the Bank announced a bonus issue of up to 15.53 billion shares on the basis of four new shares for every one existing unit held to reward shareholders where existing shareholders will have greater participation in the equity of the Bank in terms of the number of shares held.
 
Many of the shareholders had held the shares since its inception and continued to enjoy the generous dividends that the Bank has issued throughout its 54 years of unbroken track record in profitability.
 
With this issuance, using the latest practicable date (LPD) prior to this announcement of 30 November 2020, the total shares will increase from 3.88 billion shares to 19.41 billion shares and the statement noted that the exercise will increase its number of shares but not the value of the share capital of RM9.42 billion.
 
Based on the five-day volume weighted average price (VWAP) of shares up to 30 November 2020 where the share price was RM17.965, the theoretical ex-bonus share price is RM3.593 whereas if calculated based on the three-month VWAP of RM16.7583, the theoretical ex-bonus price of the shares will amount to RM3.3517 apiece, making the Bank’s shares becoming more affordable and appealing to a wider group of public shareholders and investors.
 
The statement further added that the issuance is also expected to enhance the trading liquidity of the Bank’s shares on the Main Market of Bursa Securities and the proposed bonus issue is expected to be completed by the first quarter of 2021.

With the rise of COVID-19 cases, Public Bank organised an on site swab test in Menara Public Bank on 22 October 2020 in compliance with Malaysian National Security Council’s (NSC) guidelines for staff who resides in the designated red zones by NSC but are deemed crucial to report to work.
 
Subsequent to that, they worked from home pending the test results.
 
The designated red zones were Klang, Kajang, Damansara, Sg Buloh and Petaling (based on the Subang Jaya, Petaling Jaya and Shah Alam town councils).
 
Meanwhile, there was a reduction of staff force in the office where staff will work from home to prevent the spread of the disease in the office environment.   
 
The Bank continued to put safety as a priority for its staff and they were also continuously reminded to take safety precautions and to stay at home where possible.

For the first half year ended 30 June 2020, Public Bank Group recorded pre-tax profit of RM3.01 billion, 15.3% lower as compared to the corresponding period in 2019. Net profit attributable to shareholders decreased by 15.0% to RM2.33 billion.

The decline in profit was mainly attributed to a one-off net modification loss amounting to RM498 million in the second quarter of 2020, arising from the COVID-19 relief measures offered to individuals and businesses. This reflects the Group’s commitment and contribution in supporting and helping its customers to overcome financial difficulties during this challenging time.

Excluding the modification loss, the Group’s pre-tax profit and net profit attributable to shareholders declined by 1.2% in the first half of 2020, as compared to the previous corresponding period in 2019.

The Group recorded a net return on equity of 10.7% in the first half of 2020. Excluding the one-off modification loss effect, the Group’s net return on equity would have been 12.4%.

In addition to the modification loss incurred in respect of the COVID-19 related relief measures, the Group’s profitability was also affected by the compression in net interest margin due to the reductions in Overnight Policy Rate, and higher provisions set aside for the expected increase in impaired loans due to the COVID-19 pandemic. However, the adverse impact on profitability was mitigated by the continued expansion of the Group’s loan and deposit portfolio, and higher non-interest income.

Tan Sri Dato’ Sri Dr. Teh Hong Piow, the Founder, Chairman Emeritus, Director and Adviser of Public Bank, said, “In the first half of 2020, the Group registered continued expansion in loans, albeit at a more moderate pace. The Group’s total domestic loans grew at an annualised rate of 2.6%. On deposit-taking, the Group’s total domestic customer deposits posted an annualised growth rate of 3.3%. The Group’s funding position remained stable with a healthy liquidity coverage ratio of 145.7% as at the end of June 2020.”

The unprecedented COVID-19 pandemic will pose a risk to the asset quality of the banking sector. The Group is proactively engaging its customers to provide further assistance required through restructuring and rescheduling of loans. With all these measures in place, coupled with the Group’s resilient credit profile and prudent lending practices, the potential pressure on the Group’s asset quality is expected to be manageable.

Tan Sri Teh commented, “On asset quality, the Group’s gross impaired loan ratio stood at 0.4% as at end-June 2020, which remained well below the banking industry’s gross impaired loan ratio of 1.5%. The Group’s loan loss coverage ratio remained high at 158.7%. Including the RM1.9 billion regulatory reserves that the Group had set aside, its total reserves for loan losses would be higher at 301.7%.”

On the Group’s strategy going forward, Tan Sri Teh concluded, “As the outlook remains uncertain, the Group will remain cautious and place greater focus on risk management in its pursuit of business growth. In addition, prudent cost management will remain important and the Group will continue to explore ways to further enhance its operational efficiency and productivity.”

Public Bank stands ready to provide loan repayment assistance for its customers who continue to experience difficulties in servicing their loans upon the expiry of the 6-month loan moratorium on 30 September 2020.

Public Bank Managing Director and Chief Executive Officer, Tan Sri Dato’ Sri Tay Ah Lek said, “The COVID-19 pandemic has significantly impacted the economy. Public Bank understands that some customers may continue to face difficulties in cash flow due to the longer than anticipated impact of the pandemic.”

Staying true to its founding principles of being a ‘bank for the public’, the Bank has developed a loan repayment assistance programme to support its individual customers who have lost their jobs or encounter salary reduction, and SME customers who are experiencing cash flow constraint due to the COVID-19 pandemic. The Bank’s repayment assistance consists of various repayment packages which suit its customers’ financial conditions.

Tan Sri Tay added, “Public Bank is here to help and is fully committed and supportive in helping customers through financial hard times. Our engagements with customers have been ongoing. The Bank’s repayment assistance packages have been carefully structured, taking into consideration the temporary cash flow constraints of our customers. These packages will enable our customers to gradually readjust their financial positions over an extended period of time.”

The Bank has also developed a digital platform to enable eligible customers to submit online application for rescheduling of their repayment plans. The digital platform will enable a more simplified, efficient and effective application and approval process of repayment plans for customers.

“Some painters transform the sun into a yellow spot,
   others transform a yellow spot into the sun.”
                               - Pablo Picasso

 
The masterpiece that our Founder, Chairman Emeritus, Director and Adviser Tan Sri Dato’ Sri Dr. Teh Hong Piow has worked on all his life – Public Bank, has been an inspiration to all.
 
Starting with the first branch in a three storey building at No. 4, Jalan Gereja, Kuala Lumpur with 32 determined workforce to pioneer the nation’s earliest local Bank, Tan Sri Chairman Emeritus led the Bank to meteoric rise, and also, to sustain its successes year after year since 6 August 1966.

Against a backdrop of cumulating economic challenges, from the Covid-19 pandemic, steep fall in global oil prices and coupled with the reductions in Overnight Policy Rate which have weighed on net interest margins, The Group recorded a pre-tax profit of RM 1.73 billion in the first quarter of 2020, representing a 5.1% decline as compared to RM1.82 billion achieved in the corresponding period last year.
 
Net profit attributable to shareholders was 5.7% lower at RM 1.33 billion. As a result, the Group posted a lower net return-on-equity of 12.5%.
 
Tan Sri Dato’ Sri Dr. Teh Hong Piow, the Founder, Chairman Emeritus, Director and Adviser of Public Bank, said “The Group maintained its resilient fundamentals, as reflected in the Bank’s stable gross impaired loan ratio of 0.5% and efficient cost-to-income ratio of 35.7% in the first quarter of 2020.”
 
The Group has also been actively engaging and assisting customers who encounter constraints in cash flows in line with Bank Negara Malaysia’s directive, including offering 6-month loan moratorium as well as loan restructuring and rescheduling for borrowers who face cash flow difficulties.
 
Although economic activities were affected by the outbreak and its containment measures, the Bank achieved continued loan and deposit growth in the first quarter of 2020, albeit at more moderate growth rates.
 
Tan Sri Teh concluded, “The operating environment for the banking industry is poised to be more challenging this year. The Group’s strong fundamental and resilience will position the Group in good stead to overcome any challenges, and to pursue further business growth when the economy recovers from the outbreak.”

Embrace the new normal - that is the key principle of everyday life post COVID-19 pandemic and Public Bank is quick to adopt this new normal and adapt accordingly in its 54th Annual General Meeting (AGM) using modern communication technology where shareholders can attend the AGM without leaving the comfort and safety of their home.
 
The new normal calls for extra vigilance in our day-to-day activities, which includes social distancing and minimizing exposure to crowded places. The AGM held at Menara Public Bank on 29 June 2020 adapted to these needs where the AGM was conducted through live streaming and online remote voting via Remote Participation and Voting (RPV) facilities.
 
Public Bank’s AGM is a favourite event among investors and thousands throng the venue in hotel ballrooms in the past, enjoying every moment of it, from getting in touch with old friends and sharing each other’s investment success to meeting the Man behind the success of the Bank, who also invariably enriched them in the process. Meeting the legend - the Founder, Chairman Emeritus, Director and Adviser Tan Sri Dato’ Sri Dr. Teh Hong Piow who led the Bank to achieve 53 years of unbroken track record in profitability since its inception in 6 August 1966, is always something that investors looked forward to, with loud standing ovations and gratitude. Adapting to the new normal, shareholders continue to have this opportunity to see the man who made all this possible via digital broadcast instead.
 
The anecdote of “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 …” is popular among the investor community and for 2019, the figure continued to grow to 148,938 Public Bank shares worth RM2.9 million based on the share price of Public Bank shares of RM19.44 as at the end of 2019.
 
The good news doesn’t end there. In addition, the investor would have received a total gross dividend of RM1.5 million whilst having only invested a capital outlay of RM235,612, including subscription for all rights issues. The dividends received and the appreciation in share value translate to a remarkable compounded annual rate of return of 18.6% for each of the 52 years that this shareholder has held the shares in Public Bank since it was listed in 1967.
 
Despite a slowing economy, the Bank continues to amaze the shareholders with its stellar performance. This time, the Bank achieved a pre-tax profit of RM7.13 billion in 2019 - another profit milestone.
 
The event started at 11:00 a.m. with Mr. Lai Wan, Public Bank’s Independent Non-Executive Chairman who chaired the virtual AGM delivering his opening remarks, followed by a presentation of Public Bank Group’s sturdy performance in 2019 by Tan Sri Dato’ Sri Tay Ah Lek, Managing Director.
 
Tan Sri Tay further proceeded to answer questions from the Minority Shareholder Watchdog Group (MSWG) as well as questions posted by shareholders with confidence.
 
Questions from shareholders covered a wide range of areas, from the impact of the COVID-19 pandemic on the banking business, digitalisation, human capital management and others.
 
Every question was replied in detail by Tan Sri Tay and whenever possible, facts and figures were furnished to the delight and satisfaction of the shareholders who appreciated the effort and commitment of the Group to keep them informed.
 
Many shareholders also took the opportunity to express their gratitude and thanked the Management for the continuous success of the Group.
 
Tan Sri Tay also took the opportunity to thank Tan Sri Chairman Emeritus for his leadership and guidance throughout the years that led Public Bank Group to its current eminent stature.
 
With a positive direction and outlook, Tan Sri Tay assured shareholders that although the operating environment is expected to be more challenging, Public Bank has always maintained a resilient financial performance throughout the past 53 years. Emphasising the Group’s strong fundamentals with strong capital and liquidity strength, he added that the Group will continue to manage revenue growth while optimising cost and preserving asset quality will continue as a top priority.

Public Bank’s Founder, Chairman Emeritus, Director and Adviser, Tan Sri Dato’ Sri Dr. Teh Hong Piow’s focus on Environmental, Social, and Governance (ESG) aspects of the Bank continued to be recognised with the award “Asian Corporate Director Recognition Award 2019” by the publication Corporate Governance Asia.
 
The award was bestowed in conjunction with the 15th Asian ESG (Best of Asia) Award organised by the international publication to recognise directors and their companies that are in the forefront of Asia’s drive to raise the ESG standards.

Public Bank continued to exhibit resilience with the current COVID-19 pandemic by establishing measures to prevent the spread of the virus. Business goes on and PB Bankers continued to adhere to the new norms of social distancing, improving hygiene, temperature screening and others throughout the various phases of Movement Control Order (MCO) in all the Bank’s premises.
 
In branches, where customer safety is a major concern in this pandemic, the branch staff played an active role in advising all customers to distance themselves while performing transactions at the branch counter. This included having customer seats which are separated to ensure social distancing by marking 'X' in between each alternate seats. They too had to go through temperature screening before being allowed to enter the branch.

Prevention Is Better Than Cure

Public Bank was ranked 664 in the latest Forbes’ 18th annual ranking of the world’s 2,000 largest public companies. Others in the ranking were nine other Malaysian companies from diverse industries including financial, utility, telecommunication, chemicals and hospitality.
 
Evaluated in four metrics - sales, profits, assets and market value, the market value calculation is, as of 30 April 2020 based on the closing prices and includes all common shares outstanding.

Public Bank Sabah Region opened its first RCB Centre at Kota Kinabalu (KKU) branch on 20 March 2020. It is the 12th RCB Centre nationwide and located at the ground floor of KKU branch. Meanwhile, on 27 March 2020, Northern Region I RCB Centre at Pulau Tikus (PTS) branch was launched as the first RCB centre in Penang and the 13th RCB Centre in Malaysia.
 
In view of the COVID-19 and the Movement Control Order (MCO) by the Malaysian Government, there were no grand openings but from the pre-marketing activities, a total of 107 new RCB members signed up with a total deposit of RM9.4 million and RM15.2 million of Unit Trust and Bancassurance sales recorded under KKU RCB Centre. Meanwhile, PTS RCB Centre managed to capture 184 new RCB members bringing in RM7.6 million deposit and RM11.8 million Unit Trust and Bancassurance sales.
 
Leveraging on RCB Exclusives which offers RCB customers an abundance of campaigns such as New RCB Membership Sign-Up Campaign, PB RCB Fixed Deposit / Term Deposit-i Campaign, PB Premier High Yield FD Campaign, RCB Friends Campaign and Enjoy Special Privileges with PB RCB Mastercard Premier Debit Cards Campaign, both centres continued to engage with their RCB customers as well as potential RCB customers to keep them updated on banking support during the MCO, exclusive campaigns and relief programmes available.
 
The Bank will continue to expand its RCB services throughout the country to reach a wider range of high networth customers while enhancing the RCB benefits and privileges.

Tan Sri Dato’ Sri Dr. Teh Hong Piow.
 

It was a challenging year in 2019 but Public Bank Group did it again with a 1.9% growth and achieving RM22.45 billion in its operating revenue. This had led to a higher pre-tax profit of RM7.13 billion, as compared to RM7.10 billion reported in the previous year.
 
Tan Sri Dato’ Sri Dr. Teh Hong Piow, Founder, Chairman Emeritus, Director and Adviser of Public Bank said that despite all the challenges, the Group sustained stable profitability in 2019.
 
“In appreciation of shareholders’ support, the Board of Directors is pleased to declare a higher second interim dividend of 40 sen. Together with the first interim dividend of 33 sen, the Group’s full year dividend for 2019 would amount to 73 sen.”
 
The Group continued to achieve healthy growth performance in its core business of financing and deposits with a cost-to-income ratio of 34.4%, remaining as the most efficient among peers. Meanwhile, the Group’s gross impaired loans ratio remained low and stable at 0.5%, which continued to be well below the domestic banking system’s gross impaired loans ratio of 1.5%.
 
Tan Sri Teh highlighted, “When the banking industry is concerned about the uptick in impaired loans amid the increasing economic challenges, the Public Bank Group continued to lead by its strong asset quality, despite its growing loan portfolio.”
 
On the overseas front, overseas operations contributed 10.4% to the Group’s pre-tax profit in 2019. This was largely driven by the Group’s operations in Indo-China and Hong Kong.
 
For 2020, economic uncertainties lingers and Tan Sri Teh concluded, “The Group will remain cautiously optimistic, and will remain focused on organic growth strategy and continue to sharpen its competitive capabilities to strengthen resilience in its core business in retail and commercial banking.”

Serving the growing numbers of premier customers, two new Red Carpet Banking (RCB) Centres opened in Padungan branch, Sarawak and Bandar Puteri Puchong branch, Selangor on 14 and 21 February 2020 respectively.

The Padungan RCB, headed by Ms. Evelyn Then is the second RCB centre in East Malaysia after the launch of Miri RCB and it is also the Bank’s 10th RCB centre nationwide.

Launched by Regional Manager of Sarawak Region, Mr. Chua Ko Onn and accompanied by the Branch Manager of Padungan branch, and Mr. Simon Chee Teck Khian, the eventful day was attended by many customers.

On the other hand, the 11th RCB centre at Bandar Puteri Puchong Branch headed by Cik Sharul Nur Elena Teng was launched by En. Mat Razali Bin Mohd Yassin, Regional Manager of WP/Selangor Region IV and Ms. Tong Yin Shan, Branch Manager of Bandar Puteri Puchong branch.
​
The Bank will continue to expand its RCB business throughout the nation.

Public Bank contributed RM1 million to the Covid-19 Strategic Preparedness and Response Plan on 26 March 2020 to provide assistance for critical preparedness, readiness and response support actions for the Ministry of Health and the National Crisis Preparedness and Response Centre (CPRC).

“We are doing what we can in whatever way possible to help combat the Covid-19 outbreak, whether directly or indirectly,” said the Bank’s Managing Director Tan Sri Dato’ Sri Tay Ah Lek.
​
Working with MERCY Malaysia and the Association of Banks in Malaysia (ABM), ABM member banks came together and contributed funds amounting to RM10 million in total to help in the fight against the threat of Covid-19.

The funds will also assist in operational supplies support and logistics; at-risk-community’s livelihood support and logistics; mental health and psychosocial support; and epidemics / pandemics risk reduction.

For individual and business customers affected by the Covid-19 outbreak, Public Bank is offering immediate moratorium of up to six months for the monthly instalment payments of loans and financing. In addition, the Bank will continue to accommodate requests by the affected customers to restructure or reschedule their loans and financing, to assist in their cash-flow situation during this difficult time.

Public Bank Managing Director, Tan Sri Dato’ Sri Tay Ah Lek said, “As the outbreak escalates, Public Bank will continue to be very active in providing financial relief measures to help all its customers to alleviate their financial difficulties.”

The Bank is also working concertedly with Bank Negara Malaysia in offering the Special Relief Facility to SME customers during this challenging period. The Bank has enhanced its internal processes to facilitate faster loan approval and disbursement to assist eligible SME customers to overcome their financial constraint amid this difficult situation.

To further assist customers, the Bank provided a six-month moratorium for the monthly instalment payments of loans for all eligible individual and business customers, with no compounded interest during this deferment period from 1 April 2020 to 30 September 2020.
​
Tan Sri Tay said that following Bank Negara Malaysia’s announcement on 25 March 2020, Public Bank further extends the relief assistance to its customers by not charging any compounding interest on the interest that accrues during the moratorium period, adding: “With the escalating Covid-19 outbreak, Public Bank is very concerned about its impact on the nation and hopes this extended financial assistance will provide additional relief to its customers.”

Public Bank was awarded the Platinum Excellence Award for Most Outstanding Annual Report under companies with more than RM10 Billion in market capitalisation category at the National Annual Corporate Report Awards (NACRA) 2020 on 22 December 2020.
 
The adjudication was based on the Public Bank’s 2019 Annual Report. Public Bank was the first company to win this award under NACRA’s newly introduced format in the awards category.