Media Release

FOR IMMEDIATE RELEASE

31 October 2025

Tung Shin Hospital Strengthens Cancer Care in Honour of Public Bank Founder Tan Sri Teh Hong Piow

A significant step forward in precision cancer treatment has been made possible at Tung Shin Hospital through the generous contribution of RM43 million from Ms Diona Teh, in loving memory of her late father, Tan Sri Dato’ Sri Dr Teh Hong Piow, Founder of Public Bank.

Tung Shin Hospital today officially launched its latest advancement in cancer treatment, the Varian TrueBeam™ Linear Accelerator (LINAC), marking a significant milestone in the hospital’s mission to deliver advanced, precise, and patient-centred cancer care.

This vital upgrade to Tung Shin Hospital’s Cancer Unit enables the hospital to significantly enhance access to world-class cancer treatment and improve outcomes for cancer patients across Malaysia.

“A true legacy is not measured by years, but by the lives it touches and the hope it inspires,” said Ms Diona Teh, whose RM43 million contribution made the acquisition possible. “My father believed that the true measure of a life is found in the good we do for others, and it is in that spirit that we continue his mission to bring hope, dignity, and compassion to those facing their greatest battles.”

This remarkable act of generosity not only honours the legacy of Tan Sri Teh Hong Piow, but also embodies his lifelong values of service to the community, compassion for the underprivileged and unwavering commitment to improving lives.

The President of Tung Shin Hospital, Mr Lau Keng Boon, said in his opening speech, “This morning’s officiating ceremony marks a new chapter for Tung Shin Hospital, one that shines with hope, unity, and a shared commitment to build a healthier future for all. Beyond technology and infrastructure, it is the collective spirit of care, collaboration, and compassion that defines who we are. With the continued trust and support of our partners, and the inspiration drawn from Ms Diona Teh’s generosity, we will keep moving forward, transforming lives, uplifting communities, and carrying our mission of healing into the generations to come.”

The Varian TrueBeam™ Linear Accelerator delivers radiation with exceptional precision and speed, targeting tumours while protecting surrounding healthy tissue. This allows patients to undergo treatment with greater comfort, fewer side effects, and improved clinical outcomes. Equipped with integrated imaging and motion management capabilities, the system adapts in real-time to patient movement, making it especially effective for treating cancers in the lungs, breast, liver, and abdomen. It also supports advanced radiotherapy techniques such as Intensity-Modulated Radiotherapy, Image-Guided Radiotherapy, RapidArc®, and Stereotactic Radiosurgery, enabling doctors to tailor treatment to each individual’s condition.

“As we dedicate the new Varian TrueBeam LINAC, we are reminded that our true strength lies not in technology alone, but in the compassion and unity we bring to every patient’s journey,” said Ms Diona Teh. “My father’s legacy lives on in every act of care, every story of survival, and every step forward we take together.”

Echoing this sentiment, Mr Lau reaffirmed the hospital’s long-standing mission:

“At Tung Shin Hospital, we have always believed that healthcare is not a business, but a mission, one rooted in compassion, service, and trust. As we continue to advance our facilities and technology, we remain steadfast in our purpose to heal, to serve, and to bring hope to those who need it most.”

As part of the same initiative supported by Ms Diona Teh, Tung Shin Hospital will soon embark on the next phase of its development, the establishment of a Nuclear Medicine facility equipped with a PET/CT scanner. Further enhancing its ability to provide cohesive and cutting-edge cancer diagnosis and treatment, paving the way for more accurate and integrated care.

Together, through shared commitment and collaboration, Tung Shin Hospital and its partners will continue to build on a legacy of care, innovation, and hope, advancing access to world-class cancer treatment for all.

To commemorate the launch, Tung Shin Hospital is offering 100 free cancer marker screenings to encourage early detection among Malaysians aged 45–70 years who fall within the high-risk category, such as those with a family history of cancer.

Additionally, 50 complimentary consultations with the hospital’s oncologists will be offered to help patients make informed decisions about their treatment options.

For registration or enquiries, please WhatsApp +60 19-320 3227. (Terms and conditions apply.)

Dato’ Ong Soon Ho, Deputy President of Tung Shin Hospital (first from left), Tan Sri Dato’ Sri Dr. Tay Ah Lek, Managing Director and Chief Executive Officer of Public Bank, together with Ms. Diona Teh daughter of the late Tan Sri Dato’ Sri Dr. Teh Hong Piow and Mr. Lau Keng Boon, President of Tung Shin Hospital officiating the launch of Tung Shin Hospital’s Varian TrueBeam™ Linear Accelerator (LINAC)

Dato’ Ong Soon Ho, (first from left), Mr. Lau Keng Boon, Tan Sri Dato’ Sri Dr. Tay Ah Lek together with Ms. Diona Teh viewing Tung Shin Hospital’s newly installed Varian TrueBeam™ Linear Accelerator (LINAC). The advanced radiotherapy machine, contributed by Ms. Diona Teh, stands as a legacy of care in tribute to Tan Sri Dato’ Sri Dr. Teh Hong Piow

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FOR IMMEDIATE RELEASE

13 October 2025

Public Bank Organises Sustainability Seminar for SME Manufacturers

Public Bank Berhad recently organised a green seminar for small and medium enterprises (SMEs) on 8 October 2025, reinforcing the Bank’s ongoing commitment to support Malaysia’s transitioning towards a low-carbon economy. This seminar focuses on SME manufacturers in the Klang Valley, recognising the sector’s pivotal role in Malaysia’s industrial landscape and climate agenda.

The one-day seminar, held at W Hotel, Kuala Lumpur under the theme “Embracing Sustainable Manufacturing: Building Resilience, Unlocking Opportunities,” brought together over 180 SME delegates based in Klang Valley. Representatives from the SME Association of Malaysia and the Small and Medium Enterprises Association Malaysia (SAMENTA) were also present, reflecting the diversity and breadth of industry participants committed to advancing sustainability.

The event provided participating SMEs with insights into the evolving climate landscape and underscored the urgency for the business community to address climate change through sustainable practices and responsible resource management. Presentations by key expert speakers, including from PwC Malaysia, SIRIM Berhad and GreenRE provided SMEs with practical tips and guidance on sustainable manufacturing, green certification and the importance of embedding environmental, social and governance (ESG) principles into core business strategies.

Tan Sri Dato’ Sri (Dr) Tay Ah Lek, Managing Director and Chief Executive Officer of Public Bank, expressed his enthusiasm for closer co-operation between Public Bank and SME manufacturers, reiterating that the Bank shall continue to play a leading role in financing SMEs while providing dedicated financing solutions to support SMEs’ transitioning towards a low-carbon economy.

“Public Bank has been proactive in our drive to help green the manufacturing sector. This includes facilitating SMEs’ access to Bank Negara Malaysia’s funding schemes to support investments in sustainable solutions and green manufacturing initiatives. Our holistic approach includes providing financing to SMEs at attractive pricing for investments in capital expenditure such as energy-efficient equipment, renewable energy installations and cleaner production technologies. Public Bank has also committed to mobilise RM100 billion in sustainable financing by 2030, with about RM68 billion already achieved as of 2024,” said Tan Sri Tay.

Moreover, according to Tan Sri Tay, by embracing sustainability, SME manufacturers could gain a sharper competitive edge, enabling them to expand their market share and strengthen their position in international trade.

Dr. Chin Chee Seong, President of the SME Association of Malaysia, echoed Tan Sri Tay’s sentiments on the pivotal role of SME manufacturers in advancing the nation’s sustainability agenda. “SMEs constitute about 96% of business enterprises and can be key enablers in driving the nation’s climate action commitments. As such, we commend Public Bank for organising this timely green seminar,” Dr. Chin said.

Mr. Peter Chan, Executive Director of Superior Press Sdn. Bhd. and adviser to the Selangor and Federal Territory Chinese Printing Presses Association, also applauded Public Bank’s commitment in supporting SME manufacturers in their green journey. “This seminar has provided participants with valuable insights into green transitioning, while highlighting the many tangible benefits of adopting sustainable operations,” said Mr. Peter.

Recognising the current global climate crisis, Public Bank shall continue to organise similar ESG programmes to help SMEs transition to a greener and more sustainable future.

To find out more about Public Bank’s future sustainability events and green financing packages, log on to Public Bank’s website at www.pbebank.com or call PB Customer Services at 03-2170 8000.

Public Bank’s Managing Director and Chief Executive Officer, Tan Sri Dato’ Sri (Dr) Tay Ah Lek liaising with SME delegates and exchanging views on the importance for businesses to embrace sustainability

The “Embracing Sustainable Manufacturing: Building Resilience, Unlocking Opportunities” forum drew a full house at W Kuala Lumpur, marking another milestone in Public Bank’s commitment to advancing sustainable business practices

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FOR IMMEDIATE RELEASE

10 October 2025

Comments on the Budget 2026 by Tan Sri Dato’ Sri (Dr) Tay Ah Lek By Managing Director and Chief Executive Officer Public Bank Berhad

Budget 2026 is well planned and will further cement the government’s Ekonomi MADANI vision, and three-pronged thrust of restoring the country’s fiscal strength, enhancing the pillars of our economy and uplifting livelihoods of the Rakyat. The RM419.0 billion expenditure bill is a strong statement of intent yet thoughtful in continuing to advance Malaysia’s growth impetus while ensuring no Malaysian is left behind. We applaud the government’s blueprint for 2026 and beyond.

Amid heightened uncertainties, the Government’s astute handling of external challenges continues to infuse confidence into the economy. Firm focus on fiscal discipline is demonstrated in the lower deficit target of 3.5% to GDP from the expected 3.8% in 2025. The Government’s resolve in balancing pressing issues like living costs and uplifting livelihoods with the need to empower businesses and improve basic public infrastructure is highly commendable.

Savings from successful subsidy reforms have accorded the Government some measure of fiscal flexibility, part of which has been reallocated to those in need. This is positive for consumer spending and domestic demand, which could be further helped by a possible increase in minimum wages to RM1,800 by 2027. Home ownership and financing availability remains a key imperative of the Government. To this end, Bank Simpanan Nasional will provide RM10 billion in low-interest loans for first-home buyers.

We welcome the Government’s continuous attention on Micro, Small and Medium-sized Enterprises (MSMEs), with more than RM20 billion provided in financing and guarantees. The Public Bank Group’s market-leader position in lending to MSMEs bear testament to the Group’s continued strong support for the nation’s growth engines.

Efforts on sustainability continue to be prioritized. Amongst others, the Government will allocate RM3 billion to the Green Technology Financing Scheme (GTFS) to encourage private investment in solar, hydrogen, and bioenergy while Green Energy Tariffs will be expanded to enable corporate buyers to procure certified renewable electricity. We are fully engaged and stand alongside in building the legacy of today’s government for tomorrow’s environment.

Full rollout of Budget 2026, in addition to the various social and economic frameworks in recent years, will successfully strengthen domestic sources of growth while expanding household income opportunities. The Public Bank Group is weaved into the fabric of Malaysia’s successful past, and will remain fully supportive of the Government’s initiatives for an exciting and even stronger future.

Tan Sri Dato’ Sri Dr. Tay Ah Lek Managing Director and Chief Executive Officer Public Bank

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FOR IMMEDIATE RELEASE

26 August 2025

Public Bank Group Achieved Pre-Tax Profit of RM4.65 Billion For the First Half of 2025 and Declared 10.5 Sen First Interim Dividend 

For the first half of 2025, the Public Bank Group reported a pre-tax profit of RM4.65 billion, representing 5.3% growth compared with the corresponding period in 2024. Net profit grew by 2.1% to RM3.51 billion during the same period.

The resilient performance was driven by top-line growth. Net interest and financing income grew by 4.1% to RM5.65 billion. Non-interest and non-financing income achieved double-digit growth of 17.5%, mainly spurred by investment income, foreign exchange business as well as fee and commission income. Non-interest and non-financing income growth was further complemented by the newly acquired general insurance business undertaken by the LPI Capital Bhd (“LPI”) Group.

As at the end of June 2025, asset quality remained stable with the gross impaired loans ratio standing at 0.5% and credit costs at 3 basis points, well below the banking industry’s average. Loan loss coverage stood at a prudent level of 153.9%, exceeding the 90.5% industry average.

Tan Sri Dato’ Sri (Dr) Tay Ah Lek, Managing Director & Chief Executive Officer of Public Bank commented, “Despite the significant headwinds, the Public Bank Group’s resilient business model and prudent management continued to enable the Group to ride through challenges. The Group’s core businesses continued to deliver commendable performance, with return on equity standing at 12.6%, whilst cost management remained prudent with an efficient cost-to-income ratio of 35.3%.

With the good performance for the first half of 2025, the Board of Directors of Public Bank has declared an interim dividend of 10.5 sen per share, amounting to RM2.04 billion, which represents a payout ratio of 58.1% of the Public Bank Group’s net profit for the six months ended 30 June 2025.”

Loans and Deposits Businesses

For the first half of 2025, the Public Bank Group’s total loans grew at an annualised rate of 5.1%. The annualised domestic loans grew at a stronger rate of 6.1%, which was higher than the domestic banking industry’s annualised loan growth rate of 4.3%.

The Public Bank Group’s domestic loan growth was mainly contributed by the key lending activities in the retail banking segment, i.e. residential property financing, hire purchase financing and commercial property financing, which grew by an annualised rate of 5.3%, 13.4% and 6.0% respectively. These key segments continued to command strong market shares of 20.1%, 32.9% and 32.0% respectively.

Total deposits for the first half of 2025 increased at an annualised rate of 3.5%, mainly attributed to the domestic deposits, which grew at an annualised rate of 4.1%.

Non-interest and Non-financing Income

For the first six months of 2025, the Public Bank Group posted a double-digit non-interest and non-financing income growth of 17.5% to RM1.61 billion, compared with the corresponding period in 2024. The strong growth performance was mainly backed by the enhanced performance of investment income, foreign exchange business as well as fee and commission income.

Following the acquisition of 44.15% stake in LPI, the general insurance business contributed RM146.1 million to the Public Bank Group’s income, accounting for about 9% of the Group’s total non-interest and non-financing income. Moving forward, the Group will further capitalise on strategic opportunities by leveraging on LPI’s agency force, as well as the Group’s large customer base to cross-sell products and services.

Public Mutual, a wholly-owned unit trust company of the Public Bank Group, generated a pre-tax profit of RM403.4 million for the first half of 2025, which constituted 8.7% of the Group's total pre-tax profit. This performance was underpinned by its market-leading position, as reflected in its retail market share of 33.7% and net asset value of RM100.6 billion across 185 unit trust funds as at end-June 2025.

Capital and Funding Position

The Public Bank Group remained well capitalised with Common Equity Tier 1, Tier 1 and total capital ratios standing at 14.0%, 14.0%, and 16.8% respectively.

The Public Bank Group’s strong deposit franchise continued to support a healthy level of funding position, as reflected by the gross loan-to-fund and equity ratio of 84.1% as at end-June 2025.

Sustainability Progress

The Public Bank Group continued to advance its sustainability agenda in line with its commitment to decarbonisation, targeting Carbon Neutral by 2030 and Net Zero Carbon by 2050.

As part of this commitment, solar panel installations at the Public Bank Group’s domestic bank branches have already begun and more branches are expected to be equipped with solar panel systems by the end of 2025.

To facilitate customers’ low carbon transition, the Public Bank Group has set decarbonisation targets for the cement, construction and palm oil sectors respectively, whilst the development of a target is underway for the real estate sector. 

Since 2020, the Public Bank Group has mobilised over RM71.6 billion in sustainable financing, achieving over 71% of its target to mobilise RM100 billion by 2030.

Furthermore, the Public Bank Group’s one-stop sustainable financing hub - PB Sustain – which was launched in January 2025, continues to serve as a pivotal platform for engaging with customers and supporting them in advancing their sustainability journey.

The Group’s Prospects

The global landscape has become more challenging mainly stemming from the ongoing trade tensions and geopolitical conflicts. The outlook is weighed by uncertainties which could lead to heightened volatility in the global financial markets and commodity prices.

On the domestic front, whilst downside risks have increased mainly due to external factors, the Malaysian economy will continue to be anchored by its diversified domestic economy, resilient domestic demand and stable labour market conditions. The investment momentum is expected to be sustained by the progress of multi-year projects in both the private and public sectors. These provide buffers to better absorb external shocks.

“Against this backdrop, the Public Bank Group will remain highly vigilant in navigating these evolving risks. The Group’s risk management capabilities will remain relevant to the changing environment to ensure effective mitigation strategies. On the positive front, resilient domestic demand continues to support banking business growth. The Group will continue to proactively grow its business leveraging on its core strength in the retail banking segment, whilst maintaining a strong focus on ESG initiatives and digital transformation to drive business growth.” Tan Sri Tay concluded.

Tan Sri Dato’ Sri (Dr) Tay Ah Lek

Managing Director & Chief Executive Officer

Public Bank

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FOR IMMEDIATE RELEASE

9 July 2025

Public Bank and Public Islamic Bank to Reduce Its Loan/ Financing Reference Rates By 0.25%

Public Bank will reduce its Standardised Base Rate (SBR), Base Rate (BR) and Base Lending Rate (BLR) / Base Financing Rate (BFR) by 0.25% effective 11 July 2025, in line with Bank Negara Malaysia’s Overnight Policy Rate (OPR) cut by 25 basis points from 3.00% to 2.75% on 9 July 2025. The Bank’s SBR will be 2.75% in tandem with the OPR while the BR will reduce to 3.27% from 3.52% and the BLR/BFR will reduce to 6.47% from 6.72%.

At the same time, Public Bank’s fixed deposit rates will also be adjusted downwards, effective on the same date.

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FOR IMMEDIATE RELEASE

16 June 2025

Public Bank Launches PB Scholar Debit Card - A 2-in-1 Smart Solution for Students

Public Bank proudly announces the launch of its first PB Scholar Debit Card, a revolutionary 2-in-1 card designed to integrate campus life with modern banking seamlessly. This innovative solution marks a significant milestone in transforming how students manage their academic and financial responsibilities.

The PB Scholar Debit Card serves dual purposes, functioning as both a Student ID and a Debit Card. With this advanced feature, students can enjoy door access, attendance tracking, and perform seamless financial transactions — all with just one card, eliminating the need to carry multiple cards.

Beyond convenience, the PB Scholar Debit Card empowers students to take greater control of their finances, equipping them with valuable skills in money management from an early stage. The card is enabled with various functionality including cash withdrawals, performing domestic and international purchases and online shopping. By encouraging a cashless ecosystem, the card helps reduce the risks of carrying physical cash, such as theft and loss.

This pioneering initiative sees Public Bank collaborating with Universiti Tunku Abdul Rahman (UTAR) as its first partner, positioning the university as the flagship institution for this exclusive offering.

The official launch was held on 18 March 2025 at the UTAR Kampar Campus, and it was graced by Tan Sri Dato’ Sri Tay Ah Lek, Managing Director and CEO of Public Bank Berhad, and Ir. Professor Dato’ Dr Ewe Hong Tat, President and CEO of UTAR.

Designed with student needs in mind, the PB Scholar Debit Card offers a variety of benefits, including annual fee waiver. The card is also compatible with Samsung Pay, Google Wallet, and Garmin Pay, offering added flexibility for digital payments. Additionally, students can earn monthly interest based on their daily account balance, helping them grow their savings effortlessly.

The PB Scholar Debit Card is more than just a payment tool; it is a step forward in nurturing a financially savvy student community while delivering a secure, fast and convenient experience.

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FOR IMMEDIATE RELEASE

22 May 2025

Public Bank and Dewan Bahasa dan Pustaka Reignite National Language with the Launch of Hadiah Bahasa Public Bank 2025

Public Bank is honoured to mark a historic moment today with the official launch of the Hadiah Bahasa Public Bank – Dewan Bahasa dan Pustaka 2025, a prestigious national language award. In collaboration with Dewan Bahasa dan Pustaka (DBP), the aim is to inspire professionals to continue producing quality literary works in the national language, to foster a reading and reference culture while recognising outstanding national language works for their linguistic and intellectual merit. This initiative also encourages students at all education levels, from primary to tertiary, to produce high-quality work in the national language.

The ceremony was graced by the presence of the Prime Minister of Malaysia, Yang Amat Berhormat Dato’ Seri Anwar Ibrahim (PMX), whose attendance signifies the Government’s strong and unwavering support for initiatives that uplift the national language.

Present at the official launch were Yang Berhormat Wong Kah Woh, Deputy Minister of Education Malaysia, Yang Berbahagia Dato’ Teknologis Dr. Haji Aminuddin bin Hassim, Secretary-General of Ministry of Education Malaysia, Yang Berbahagia Sasterawan Negara, Dato’ Dr. Anwar Ridhwan, Chairman of the Board of Governors, Dewan Bahasa dan Pustaka, and Yang Berbahagia Tan Sri Dato’ Sri Dr. Tay Ah Lek, Chief Executive Officer and Managing Director of Public Bank.  

YBhg. Dato’ Sulaiman bin Abdul Manap, Deputy Chief Executive Officer of Public Bank, highlighted in his speech that Public Bank has long believed that language is more than just a means of communication; it symbolises national identity, is a vessel of culture, and is a foundation of unity.

He added that Public Bank proudly embarked on a new chapter, Hadiah Bahasa Public Bank Dewan Bahasa dan Pustaka. This collaboration continues our legacy of supporting language development and reaffirms our shared vision with Dewan Bahasa dan Pustaka to elevate the national language. “Hadiah Bahasa is not something new to us at Public Bank. As early as 1984, inspired by our Founder, the late Yang Berbahagia Tan Sri Dato’ Sri Dr. Teh Hong Piow, who aspired to support the nation in elevating the status of the national language, Public Bank launched the inaugural edition of Hadiah Bahasa in collaboration with the Linguistic Society of Malaysia,” said Dato’ Sulaiman.

Today, after a 27-year hiatus, Public Bank enters a new chapter through its collaboration with DBP, an institution entrusted with developing and enriching the national language. This revival reflects Public Bank’s deep-rooted commitment to Corporate Social Responsibility in the realm of language and literature. It also underscores the Bank’s belief that true national progress lies in economic gains and our contributions toward cultivating a knowledgeable, cultured, and forward-thinking society.

In closing, the Bank quoted the words of the PMX from the first edition of Hadiah Bahasa:

“What makes the intellectual and scientific world lethargic is that new works are still awaited for the appearance, while the great works of the past have not yet left the museum.”

With this powerful reminder, Public Bank looks forward to Hadiah Bahasa Public Bank Dewan Bahasa dan Pustaka becoming a beacon of inspiration for future generations, championing the national language as a treasured legacy that unites and leads us forward.

From left: Zulfa bin Hamzah Deputy Director General of Operations DBP, Dato’ Sulaiman Abdul Manap Deputy CEO, Public Bank, Dato’ Ts Dr Hj Aminuddin b Hassim Secretary General Ministry of Education Malaysia, YB Wong Kah Woh Deputy Minister, Ministry of Education, YAB Dato’ Seri Anwar Ibrahim Prime Minister of Malaysia, Tan Sri Dato’ Sri Dr. Tay Ah Lek, CEO & Managing Director, Public Bank, Y.Bhg SN Dato’ Dr. Anwar Ridhwan, Chairman Governing Board of DBP, Ms. Chang Siew Yen Deputy CEO, Public Bank and YB Senator Prof. Emeritus Datuk Seri Awang Sariyan

YAB Dato’ Seri Anwar Ibrahim and Tan Sri Dato’ Sri Dr. Tay Ah Lek

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FOR IMMEDIATE RELEASE

21 May 2025

Public Bank Group Achieved Pre-Tax Profit of RM2.31 Billion For the First Quarter of 2025

For the first quarter ended 31 March 2025, the Public Bank Group posted a pre-tax profit of RM2.31 billion, an 8.5% increase compared with the corresponding quarter in 2024. Net profit rose by 5.6% to RM1.75 billion over the same period.

Supported by a stable net interest margin as well as healthy loan and deposit growth, the Group’s net interest and financing income improved by 3.5% to RM2.80 billion.

Non-interest income increased by 18.9% to RM772.1 million compared with the corresponding period last year.

The Group continued to maintain sound asset quality, as reflected in its low gross impaired loans ratio of 0.5% as at end-March 2025. Loan loss coverage, standing at 159.9%, continued to provide an ample buffer against potential credit losses.

Tan Sri Dato’ Sri Dr. Tay Ah Lek, Managing Director & Chief Executive Officer of Public Bank commented, “Despite prevailing challenges in the operating environment, the Public Bank Group’s latest financial performance reflects the resilience and strength of its fundamentals. Prudent cost management yielded an efficient cost-income ratio of 35.0%, coupled with continued top-line growth, return on equity stood at 12.4%.”

Loans and Deposits Businesses

The Public Bank Group recorded total loans of RM430.1 billion as at March 2025, which marked a 5.6% annualised loan growth for the first quarter of 2025.

Domestically, loan portfolios grew by 6.3% to RM403.9 billion on an annualised basis. The Group maintained its strong presence in key financing segments. Domestic residential property financing, hire purchase financing and commercial property financing achieved annualised growth of 5.2%, 15.3%, and 7.0%, respectively. These key segments continued to command strong market shares of 20.1%, 32.5%, and 32.0%.

The Group’s strong deposit franchise continued to support a healthy liquidity position, as reflected by the gross loan-to-fund and equity ratio of 83.9% as at end-March 2025.

Asset Quality

As at end-March 2025, the Public Bank Group continued to demonstrate asset quality resilience, with a healthy gross impaired loans ratio of 0.5%. Within the Group’s domestic operations that made up over 94% of its total loans, the sound asset quality was more pronounced, with a gross impaired loans ratio of 0.4%, well below the industry’s impaired loan ratio of 1.4%.

Loan provisions continued to be prudently managed, with the Group’s loan loss coverage ratio standing at 159.9% and exceeding the 91.2% industry’s average. Including regulatory reserves, the Group’s loan loss coverage ratio stood at a higher rate of 233.4%.

Non-interest Income

The Public Bank Group posted non-interest income of RM772.1 million for the first three months of 2025. The strong 18.9% growth from the corresponding period last year was primarily attributed to the contribution from the newly acquired general insurance business of the LPI Capital Bhd (“LPI”) Group, as well as enhanced performance of the Group’s investment and foreign exchange income.

Following the acquisition of 44.15% stake in LPI, the subsidiary contributed RM32.6 million to the Group’s net profit attributable to shareholders in the first quarter of 2025. Leveraging potential synergies and cross selling opportunities with LPI, the Group’s non-interest income is expected to be further boosted.

Public Mutual, a wholly-owned unit trust company of the Public Bank Group, generated a first-quarter pre-tax profit of RM208.0 million, which constituted 9.0% of the Group's total pre-tax profit. Supporting this performance was its market-leading position, with a retail market share of 33.9% and RM97.0 billion in net asset value across 185 unit trust funds as at end-March 2025.

Capital Position

The Public Bank Group’s capital position remained healthy and stable. The Group’s Common Equity Tier 1, Tier 1, and Total Capital Ratios stood at 14.0%, 14.1%, and 16.8%, respectively as at the end of March 2025.

Group’s Prospects

The reciprocal tariffs announced by the United States of America (“US”) have sparked concerns that a major disruption on international trade could trigger a prolonged adverse impact on global growth. While the higher tariff has been on a pause for 90 days, significant uncertainties remain.

Malaysia, as an open economy and a key trade partner to the US, is not spared from the trade tensions. However, supportive measures, such as wage hikes, ongoing multi-year infrastructure and investment projects, coupled with the country’s stable employment market and diversified economic structure, should help cushion Malaysia from some downside risks.

Tan Sri Tay concluded, “As the Public Bank Group continues to navigate an evolving global and domestic landscape, the Group remains steadfast in fostering long-term resilience and sustainable growth. We will continue to build on our core competencies, seize emerging opportunities, and support our customers to adapt to the fast-changing landscape. By staying agile and forward-looking, we strive to continually deliver sustainable value to all of our stakeholders.” 

Tan Sri Dato’ Sri Dr. Tay Ah Lek

Managing Director and Chief Executive Officer

Public Bank

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FOR IMMEDIATE RELEASE

8 May 2025

Public Bank's 59th Annual General Meeting Held on 8 May 2025

In conjunction with Public Bank’s 59th Annual General Meeting held on 8 May 2025, the Managing Director & Chief Executive Officer, Tan Sri Dato’ Sri Dr. Tay Ah Lek is pleased to present a review of the Public Bank Group’s performance in 2024 and the Group’s strategic direction.

Performance Review for 2024

Tan Sri Tay said, “On the back of the growing economy, the Public Bank Group’s pre-tax profit grew by 4.6% to RM8.93 billion in 2024. The Group’s net profit also increased by 7.5% to RM7.15 billion in 2024. Excluding the one-off impairment of goodwill of RM473.8 million incurred for the Group’s Hong Kong operations, the Group’s pre-tax profit recorded a higher growth of 10.1% in 2024 as compared with 2023. The Group’s good profit performance in 2024 was driven by continued expansion in loans and deposits, and stronger non-interest income growth.”

The Public Bank Group’s total gross loans and financing grew by 6.3% to RM424.17 billion as at the end of 2024. The Group’s domestic loans grew by 6.7%, which was higher than the domestic banking industry’s loans growth of 5.5%. The Group maintained its No.1 position in residential property, commercial property and hire purchase financing, with market shares of 20.2%, 32.0% and 31.8% respectively. In the domestic small and medium enterprises (“SME”) financing, the Group remains a market leader with 17.9% market share.

On the funding side, the Public Bank Group’s customer deposits grew by 4.9% to RM433.26 billion as at the end of 2024. The Group’s domestic deposits increased by 4.8% in 2024, outpacing the banking industry’s growth rate of 3.0%. In particular, the Group’s domestic core customer deposits grew at a healthy rate of 9.8%, mainly supported by fixed deposits growth of 13.1%.

Tan Sri Tay highlighted, “In 2024, the Public Bank Group continued to outperform its banking peers. The Group is the most cost-efficient bank in Malaysia with the lowest cost to income ratio of 34.5%, as compared to the industry’s average cost to income ratio of 47.3%. In terms of asset quality, the Group’s gross impaired loans ratio of 0.5% is the best amongst Malaysian banking groups. This was significantly better than the banking industry’s impaired loans ratio of 1.4%. The Group’s resilient net return on equity of 13.2% was also the highest and well above the domestic banking peers’ average net return on equity of 10.3%.”

The Public Bank Group’s wholly owned unit trust management subsidiary, Public Mutual, maintained its leading market share of 34.7% in the domestic retail private unit trust industry as at the end of 2024. In 2024, Public Mutual achieved 7.8% growth in profit before tax to RM860.0 million. Public Mutual’s total assets under management also grew by 5.0% to RM102.0 billion as at the end of 2024, with 185 funds under its management.

As at the end of 2024, the Public Bank Group’s loan loss coverage ratio stood at 166.2%. This was higher than the banking industry’s loan loss coverage ratio of 91.4%. Including regulatory reserves, the Group’s loan loss coverage ratio would be even higher at 237.7% as at the end of 2024.

The Public Bank Group’s capital position remained stable and healthy with Common Equity Tier 1 capital ratio of 14.3%, and total capital ratio of 17.1% as at the end of 2024. The Group’s average Liquidity Coverage Ratio of 133.4% also remained well above the regulatory requirement of 100%.

Tan Sri Tay said, “In view of the Public Bank Group’s good financial performance in 2024, a second interim dividend of 11 sen was paid in March 2025. Together with the first interim dividend of 10 sen paid in September 2024, shareholders have received a total dividend of 21 sen per share for 2024. This was higher than 19 sen paid in 2023. Total dividends paid amounted to RM4.08 billion, representing 57.0% of the Group’s net profit for 2024. The 21 sen dividend per share translates to a dividend yield of 4.6% based on Public Bank’s share price of RM4.56 as at the end of 2024.”

The Public Bank Group continues to deliver consistent and superior returns to its shareholders. The stable performance of Public Bank shares coupled with the consistent dividend payout had further increased the value for a long term shareholder. With total market capitalisation of RM86.77 billion today, Public Bank is the second largest company and the largest non-government linked company on Bursa Malaysia.

Strategies and Directions for 2025

Tan Sri Tay commented, “The outlook for the Malaysian economy remains positive, with projected stable growth driven by steady domestic demand, a growing services sector, and ongoing investment in infrastructure projects. However, downside risks remain, mainly from weaker-than-expected external demand, and the potential spill over effects of ongoing trade tensions and imposition of tariffs by the United States of America.

While the Public Bank Group is mindful of potential challenges ahead, the Group will focus on sustaining business growth while managing risks effectively. The Group will also continue to operate efficiently and maintain prudent credit risk management. The Group is committed to uphold strong risk management and corporate governance practices.”

In 2024, the Public Bank Group strengthened its market position through strategic acquisitions and business expansion. The acquisition of LPI Capital Berhad, along with the establishment of Public Bank Securities Vietnam Ltd, have brought the Group closer to its goal of becoming a universal banking group. This will provide opportunity for the Group to offer a wider range of financial products and services across its domestic and regional markets. On 1 January 2024, the Group has also successfully converted its Laos operations into a wholly owned subsidiary, renamed as Public Bank Lao Ltd. Looking ahead, this will further strengthen the Group’s presence in Indochina, and enable the Group to capitalise on future growth opportunities.

Tan Sri Tay highlighted, “With the evolving customer needs, the Public Bank Group is committed to promote innovation, inclusivity and sustainability through digital transformation. The Group remains focused on enhancing financial accessibility for all its customers, balancing traditional banking with digital innovation. By continuously enhancing the Group’s digital platforms, the Group ensures all customers have access to secure and intuitive digital banking services.”

To enhance the Public Bank Group’s digital banking experience, the Group has introduced a new and enhanced version of mobile app, which is the MyPB mobile App in November 2023. The transition to MyPB App has seen strong customer adoption, driven by user-friendly designs, and modern features to meet customer lifestyle needs. A newly redesigned MyPB online banking platform was also introduced in July 2024, featuring enhanced features and a user-friendly interface.

With the switch towards mobile banking as the preferred platform, new users on MyPB App grew by a commendable 22.8%. The number of mobile banking transactions also surged by 54.5%. For the Public Bank Group’s MyPB online banking, the number of new users increased by 7.6%. The Group’s corporate online banking, the PB enterprise also reported steady growth. In 2024, total new companies registered on PB enterprise increased by 16.1%. The number of transactions performed on PB enterprise also grew by 18.3%.

Safeguarding financial security is a top priority for the Public Bank Group, not only to protect customers' interests, but also to uphold Public Bank's brand reputation. The Group remains fully committed to safeguard financial security, and has been increasing investment in comprehensive IT risk management to build cyber resilience. To deter scams and protect customers, cooling-off periods, kill-switches, secure token authentication capabilities and ongoing education have been incorporated across various online banking channels. In 2024, the Group has launched the PB Scam Rangers, a cybersecurity awareness initiative led by the Group’s dedicated fraud prevention team. Through nationwide outreach campaigns, the Group’s fraud prevention team actively educates the public on the latest financial scams and how to stay protected. The Group has also recently conducted the “PB Scam Rangers Webinar Series: Investment Scam”. This inaugural webinar focused on prevalent tactics used in investment scams, and has attracted over a thousand participants. The webinar enhanced attendees' understanding of scam mechanisms, and has received overwhelming positive feedback.

Tan Sri Tay highlighted, “By adopting the various security measures, the Public Bank Group has protected over 1.2 million customers and prevented RM1.78 billion from being fraudulently transferred as at the end of March 2025.”

Beyond financial performance, the Public Bank Group is also strongly committed to sustainability. As part of the Group’s sustainability agenda, the Group continues to launch various sustainable products and initiatives to support customers to transition to a low-carbon economy. The Group also actively develops and promotes financial products and services, which integrate Environmental, Social and Governance (“ESG”) considerations.

Tan Sri Tay commented, “Since 2020, the Public Bank Group has mobilised RM67.88 billion in sustainable finance, on track towards the Group’s target of RM100 billion by 2030. This covers financing portfolio such as low emission vehicles financing, social agenda financing, corporate loans, sustainability-linked loans and green financing.”

The Public Bank Group has set a goal to achieve Carbon Neutral in Scope 1 and Scope 2 by 2030 and Net Zero by 2050. To achieve this, the Group has developed an ambitious Decarbonisation Plan. Moving forward, the Group will closely monitor its yearly targets to ensure meaningful progress.

Tan Sri Tay further commented, “As the Public Bank Group moves forward, the Group remains committed to achieve sustainable long-term growth. With a strong foundation built over five decades by our late founder, Tan Sri Dato’ Sri Dr. Teh Hong Piow, the Group will continue to adapt and evolve. In the face of constant business change, the Group is confident in its ability to navigate uncertainties and remain competitive.

The Group’s financial strength, prudent credit practices and strategic vision will continue to drive the Group’s long-term success. As the Group navigates the path forward, the Group will ensure sustainable value creation for all its stakeholders.” 

Tan Sri Dato' Sri Dr. Tay Ah Lek, Managing Director and Chief Executive Officer, Public Bank Berhad, Mr. Lai Wan, Chairman of Public Bank Berhad and the rest of the Board of Directors of Public Bank Berhad

Mr. Lai Wan and Tan Sri Dato' Sri Dr. Tay Ah Lek presenting the financial results of 2024 during the Public Bank 59th Annual General Meeting

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FOR IMMEDIATE RELEASE

18 April 2025

Public Bank and Stellantis Malaysia Collaborate to Accelerate EV Adoption with ‘Paint the Town Green with EV Financing’

Public Bank and Stellantis Malaysia have joined forces to champion sustainable mobility through the ‘Paint the Town Green with Electric Vehicle (EV) Financing’ event. This strategic collaboration highlights Public Bank’s exclusive ‘Paint the Town Green’ campaign, offering attractive financing solutions to accelerate EV adoption in Malaysia.

Through this campaign to encourage more Malaysians to switch to EVs, Public Bank is offering a range of compelling benefits, including Preferential Interest Rates as low as 0.38% p.a. for financing of the new Leapmotor C10 EV.

Commenting on the collaboration, Tan Sri Dato’ Sri Dr. Tay Ah Lek, Managing Director and Chief Executive Officer of Public Bank, stated, “Public Bank is committed in supporting Malaysia’s green transition by making EV ownership more accessible. Through our ‘Paint the Town Green’ campaign and partnership with Stellantis Malaysia, we aim to empower customers with competitive financing options while supporting the nation’s sustainability goals.”

In line with its commitment to mobilise RM100 billion of sustainable finance by 2030, Public Bank continues to support green initiatives, including the transition to electric mobility. Supporting the growing momentum of EV adoption in Malaysia, Public Bank has an EV vehicle market share of 33.5% in February 2025.

Isaac Yeo, Managing Director, ASEAN, Stellantis added: “We are pleased to collaborate with Public Bank on this strategic initiative to advance electric vehicle adoption in Malaysia. Through this partnership, the Leapmotor C10—equipped with intelligent features and advanced technology—becomes a more accessible and compelling option for Malaysian consumers. We are confident that this initiative will support the nation’s transition towards sustainable mobility while meeting the expectations of today’s discerning automotive customers.”

The Leapmotor C10 won the the International CMF Design and French Design Awards and is a vehicle engineered to redefine electric mobility. The C10 pairs sleek aesthetics with powerful performance, featuring a 69.9kWh Lithium-Iron Phosphate battery and 214hp electric motor, delivering a 424 KM range (WLTP) for effortless drives. Inside, a 2.1m ² panoramic glass roof with a retractable sunshade complements the spacious cabin. The 5-star Euro NCAP safety rating and Leap Pilot Level 2 ADAS further provides owners the enhanced confidence on the road.

The ‘Paint the Town Green with EV Financing’ event underscores Public Bank’s and Stellantis Malaysia’s shared vision for a cleaner and more sustainable automotive landscape. As Malaysia continues to embrace electrification, this initiative is poised to accelerate the shift towards environmentally friendly transportation solutions.

Public Bank and Stellantis Malaysia supporting the growth of electric vehicle (EV) adoption

Public Bank and Stellantis Malaysia mark the start of a strategic collaboration with an official flag-off ceremony

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25 March 2025

Public Bank Extends Loan Repayment Relief to Customers Affected By the Floods in Johor

Public Bank and Public Islamic Bank are extending repayment relief to loan and financing customers who have been affected by the recent floods in Johor.

Public Bank’s Managing Director and Chief Executive Officer, Tan Sri Dato’ Sri Dr. Tay Ah Lek said, “The recent floods in Johor have left many communities struggling with livelihood difficulties. Public Bank remains committed to support the affected customers. A range of financial relief are available for customers who have suffered damages and losses due to the floods.”

The repayment relief, which is also applicable to other flood-affected districts identified by Agensi Pengurusan Bencana Negara as flood disaster areas in the country, includes:

i.    Deferment of monthly instalment for loan and financing of up to 6 months. 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 businesses. 

ii.    Waiver of charges on the replacement of banking related documents, such as bank cards, passbooks and fixed deposits/Term Deposits-i receipts that have been destroyed or lost in the floods. 

iii.    Immediate collaboration has been made with the Group’s subsidiary company, Lonpac Insurance Bhd for fast processing of claims by the affected customers on losses covered by insurance policies underwritten by Lonpac.

Customers who have been affected by the floods are advised to contact the Bank for the repayment relief.  

In addition, Public Bank is also a participating financial institution for the Bank Negara Malaysia’s Disaster Relief Facility. 

This facility is for the purpose of repairs and/or replacement of assets for business use, such as plant and machinery which have been damaged by floods, as well as for working capital purposes.

Contacts

Customers who wish to apply for the repayment relief or require any further information may visit our Public Bank branches or contact the Bank’s general line at 03-21708000. 

For insurance claims related matters, affected customers can contact Lonpac at 03-2262 8688.

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FOR IMMEDIATE RELEASE

24 March 2025

The Teh Hong Piow Faculty of Business and Finance launched: A Lasting Tribute to His Legacy

The University of Tunku Abdul Rahman (UTAR) pays homage to the late Tan Sri Dato' Sri Dr. Teh Hong Piow, by naming the Teh Hong Piow Faculty of Business and Finance. 

The honorary naming of the faculty is a recognition of Ms. Teh Li Shian Diona’s remarkable philanthropic donation of RM50 million towards the UTAR Education Foundation, which will serve as an endowment fund for UTAR student scholarships. Her generosity is an extension of her father’s belief on the importance of education and its transformative power – an important advice from her father that she remembers very dearly.

Held at the UTAR Kampar Campus recently, the official launching ceremony was attended by Ms. Teh Li Shian Diona, the daughter of the late Tan Sri Dato’ Sri Dr. Teh Hong Piow, Tan Sri Dato’ Sri Dr. Tay Ah Lek, Managing Director and Chief Executive Officer of Public Bank, accompanied by Deputy CEO of Public Bank, Dato’ Chang Kat Kiam, alongside Tun Dr. Ling Liong Sik and spouse Toh Puan Ena Ling, UTAR Chancellor, Tan Sri Dato Dr. Sak Cheng Lum and spouse Puan Sri Irene Sak,  UTAR Education Foundation Board of Trustees (BOT) Chairman, and Ir Prof. Dato’ Dr. Ewe Hong Tat, President of UTAR. 
 
The late Tan Sri Teh’s advocacy on education in UTAR began from his substantial donations of RM20 million to UTAR in its early years of establishment, supporting the University in its effort to make education accessible to all, and achieving dreams possible. In further enriching the academic landscape, the Tan Sri Teh Hong Piow Chair in Banking and Finance was established in 2009, in the Kampar Campus, through the significant contribution of RM1.25 million from Public Bank. This enabled the appointment of a professor and the conduct of applied research in banking and finance, and substantiate the University’s commitment to advancing knowledge in banking and finance.

His belief in education to progress society is manifested again when the Public Bank Top Achiever Award was introduced in 2021, to recognise students who demonstrate exceptional academic excellence and soft skills – an embodiment of his vision to promote excellence among students, and nurture talents. This vision expanded with the donation of RM2 million towards the development of the UTAR Hospital last year, solidifying its role as a teaching hospital that will nurture practising medical students into medical specialists who will serve the nation, and the hospital’s vision to be a pillar of health in its community.

Today, Ms. Teh Li Shian Diona carried forward her father’s philanthropic spirit, and her substantial contribution will enable UTAR to solidify its effort and continuous commitment to provide equitable and affordable quality education, and promote lifelong learning opportunities for all – a testament of the university’s contribution to creating a sustainable world through the transformative power of education. 

Ms. Teh Li Shian Diona said, “This is not just a donation, it is a legacy in motion.  This endowment will never run dry; its principal remain intact, while its returns will fund scholarships year after year, generation after generation. It ensures that countless students will have access to the education they deserve, free from financial burdens.”

“This initiative is more than just financial assistance, it carries a deeper message. It is a promise to rewards perseverance, to nurture ambition, and to create opportunities for those who dare to dream and work hard,” she continued. 

Ir Prof. Dato’ Dr. Ewe Hong Tat expressed, “The late Tan Sri Dato' Sri Dr. Teh Hong Piow’s belief that education is the foundation upon which lasting impact is built, is echoed in our hearts today. The naming of this faculty in his honour is more than upholding his belief; it also ensures that learning as a lifelong pursuit will continue to inspire, evolve, and shape the course of history. Today, this faculty stands as a symbol of his values and inspiration that will motivate students to strive for excellence, nurture their talents and skills, and channel their intellect toward meaningful contributions to society and the nation.”

Adding to the celebration was the unveiling and launching of the Public Bank Scholar Debit Card; a 2-in-1 card that integrates student identification with a debit card function, providing greater convenience for UTAR students. As part of Public Bank and UTAR’s collaborative initiative, this card will enable students to enhance financial accessibility and convenience, making everyday transactions smoother and more rewarding.

Prior to this, a lecture theatre in the faculty named in honour of the late Tan Sri Dato' Sri Dr. Teh Hong Piow was launched last year, together with the unveiling the Wall of Fame poster of the late Tan Sri Dato' Sri Dr. Teh Hong Piow’s legacy. 

From left: Dato' Chang Kat Kiam, Tan Sri Dato’ Sri Dr. Tay Ah Lek, Ms Teh Li Shian Diona, Tun Dr. Ling Liong Sik, Toh Puan Ena Ling, Tan Sri Dato’ Dr Sak Cheng Lum, and Ir Prof. Dato’ Dr Ewe. Hong Tat

Ms. Teh Li Shian Diona speaking of her late father’s advocacy on education

From left: Tan Sri Dato’ Sri Dr. Tay Ah Lek and Ir Prof. Dato’ Dr. Ewe Hong Tat unveiling the Public Bank Scholar Debit Card

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FOR IMMEDIATE RELEASE

5 March 2025

Public Islamic Bank Berhad Launches RM1.0 Billion Financing through Halal Engage Program to Elevate Malaysian Halal Industry Players

Public Islamic Bank Berhad (Public Islamic Bank) is proud to announce the launch of its Halal Engage Program, a comprehensive initiative designed to empower small and medium enterprises (SMEs) within Malaysia’s halal industry. The program aims to strengthen the halal economy by offering essential financial support and business resources to local players in the sector.

As part of its strategic focus on growing the halal market share, the Halal Engage Program provides financing solutions that help halal-compliant businesses with various needs. These include acquiring halal-compliant premises, expanding operations, securing working capital, and supporting sustainability transitions in line with global halal industry trends.

With an eye towards providing a comprehensive solution, Public Islamic Bank Berhad works with the Halal Development Berhad (HDC) through the Halal Integrated Platform (HIP) to expand market access globally. On top of that, HDC also supports SMEs through various initiatives in the halal ecosystem, including consultancy services and halal industrial training.

In addition to financial backing, the program will collaborate with key business partners to organize events and initiatives designed to enhance market reach, visibility, and awareness of halal industry players. The program aligns with the national agenda to accelerate the growth of the halal economy, both domestically and internationally, fostering innovation and increasing Malaysia’s global competitive edge in the halal sector.

With the media collaboration, Kinihalal, a specialized platform in the halal industry will definitely assist SMEs in promotional and publicity activities for products and companies.

"We are deeply committed to supporting the growth of halal-related businesses, which are pivotal in driving Malaysia’s position as a leader in the global halal industry. With the Halal Engage Program, we aim to provide a robust platform for SMEs to thrive, expand, and transition towards sustainable practices that will future-proof their businesses. We aspire to grow our overall halal financing portfolio by RM1.0 billion,” said Syamsul Azuan Ahmad Fauzi, Chief Executive Officer of Public Islamic Bank Berhad.

Public Islamic Bank’s Halal Engage Program is strategically aligned with the Bank’s broader goals of advancing the development of the halal industry, ensuring that businesses have the tools and support to achieve long-term success while contributing to the national and global halal economic landscape.

For more information on the Halal Engage Program and how to participate, please visit https://www.publicislamicbank.com.my/personal-banking/banking/financing/ or contact our customer service team at customerservice@publicbank.com.my or customersupport@publicbank.com.my.

En Syamsul Azuan, CEO of PIBB, and En Mohd Zamulud, COO of HDC officiated the launch of HEP, which was witnessed by Cik Rianna Mohd Ariff of PIBB and Pn Rusyilda Ismail of KiniHalal

Public Islamic Bank together with Halal Development Cororation Berhad and KiniHalal during the launch of Halal Engage Program (HEP).

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FOR IMMEDIATE RELEASE

5 March 2025

Empowering Customers in Combating Scam with Public Bank’s PB Scam Ranger Webinar Series

Public Bank launched the PB Scam Ranger Webinar Series to strengthen public knowledge about scams, their modus operandi and related prevention methods.

Beginning with the webinar highlighting the trending Investment Scam modus operandi, it has attracted over a thousand participants.

Public Bank’s Managing Director & Chief Executive Officer, Tan Sri Dato’ Sri Dr. Tay Ah Lek said: “Public Bank remains committed to deliver high-quality learning experience and fostering an interactive platform for knowledge sharing regarding scams. Webinars such as this aims to disseminate essential information, encourage vigilance and foster a safer digital environment for the public.”

Tan Sri Tay reiterated the importance of customers remaining vigilant at all times and to practise safe banking habits. This included never disclosing their banking accounts’ User ID, password, and answers to the Challenge Questions to anyone. Apart from that, customers are advised to refer to the library of educational information made available by Public Bank on how they can identify the various modus operandi of scammers and how to respond effectively.

The use of interactive slides and case studies had helped the participants to understand scams better. Participants provided positive feedbacks and many expressed strong interest in attending Public Bank’s upcoming webinars.

Apart from the webinar, Public Bank has recently implemented a new enhancement called the “Security Posture” to strengthen security controls for PB engage MY and MyPB Mobile App.

This enhancement will warn customers if there are any applications being downloaded from unofficial sources. Customers are strongly recommended to uninstall all unofficial apps detected in order to have a safer online banking experience.

On top of that, the PB Scam Ranger continues to collaborate with branches and other organisations such as Putrajaya Corporation and Association of Bank in Malaysia to increase the awareness of the public on scam related matters.

The physical presence of the PB Scam Ranger further remind and empower the public to take scams seriously. The general public, who may encounter fraud during routine banking activities and vulnerable customers with limited digital literacy continue to benefit from these initiatives.

To further raise awareness, Public Bank uses various platforms such as email blasts, social media, mobile banking platforms and conducting various roadshows, delivering useful scam knowledge to the public to drive stronger preparedness against fraud threats.

As Public Bank strives to equip customers with useful information and tools, continuing to expand the best services to the community, customers are advised to remain vigilant as scammers continue to apply new methods and tactics to initiate fraudulent activities.

PB Scam Ranger participated in Product Promotional Events (PPE) at Bandar Sri Damansara and Bercham Branch.

PB Scam Ranger also took part in the Putrajaya Open Day event this year, which was held in Putrajaya.

PB Scam Ranger conducted a scam awareness talk in collaboration with the Association Of Banks in Malaysia (ABM) at Semenyih.

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26 February 2025

Public Bank Group Achieved Pre-Tax Profit of RM8.93 Billion for 2024 and Declared 11.0 Sen Second Interim Dividend

For the financial year 2024, the Public Bank Group reported a pre-tax profit of RM8.93 billion and net profit attributable to shareholders of RM7.15 billion, increasing by 4.6% and 7.5% respectively when compared with 2023. 

Excluding the one-off impairment of goodwill of RM473.8 million incurred during the year for the Group’s Hong Kong operations, the Group’s pre-tax profit recorded a higher growth of 10.1% in 2024 as compared with 2023.

With the proactive management of funding cost, the Public Bank Group has been able to maintain a stable net interest margin and generate 5.1% growth in net interest and financing income to RM11.07 billion in 2024. This is complemented by a stronger growth in non-interest income, which rose by 15.2% to RM2.85 billion during the same period.

Tan Sri Dato’ Sri Dr. Tay Ah Lek, Managing Director and Chief Executive Officer of Public Bank commented, “The Public Bank Group's 2024 performance was underpinned by sustained growth in both loans and deposits businesses, and further supported by stronger growth in non-interest income. Coupled with the Group’s prudent cost management, as evidenced by its efficient cost-to-income ratio of 34.5%, the Group achieved a commendable net return on equity of 13.2%.”

The gross impaired loans ratio for 2024 remained low at 0.5%, highlighting the Public Bank Group's strong credit risk management and resilient loan portfolio. Loan loss coverage ratio remained prudent at 166.2% as at end-December 2024.

Tan Sri Tay highlighted, “In recognition of the good performance in 2024, the Board of Directors has declared a second interim dividend of 11.0 sen per share.” With the first interim dividend of 10.0 sen per share declared in August 2024, the total dividend for 2024 amounted to 21.0 sen. This represents a total payout of RM4.08 billion or 57.0% of the Group's net profit for 2024. The second interim dividend is scheduled for payment on 24 March 2025, with a dividend entitlement date of 13 March 2025.

Loans and Deposits Businesses

The Public Bank Group recorded total loans of RM424.2 billion as at end-December 2024, which increased by 6.3% when compared with the same period last year.

The Group’s domestic loan portfolios expanded by 6.7% to RM397.7 billion, which outperformed the Malaysian banking industry's loans growth of 5.5%. Within the key financing segments of the Public Bank Group, domestic residential properties financing posted a year-on-year growth of 5.6% to RM170.4 billion. Hire purchase financing recorded strong growth of 13.1% to RM72.9 billion, whilst SME financing rose by 6.0% to RM72.0 billion. The domestic residential properties financing, hire purchase financing and SME financing continued to sustain dominant market shares of 20.2%, 31.8%, and 17.9%, respectively.

During the year, the Public Bank Group saw strong growth in newly approved domestic loans for hire purchase financing and SME financing, which grew by 16.3% and 41.0% respectively. These will continue to support a stable loan growth in 2025.

Total customer deposits of the Public Bank Group stood at RM433.3 billion as at the end of December 2024, representing a 4.9% growth from the end of 2023. Of this, domestic customer deposits increased by 4.8% to RM403.5 billion, mainly driven by core deposit segments.

For 2024, the Public Bank Group’s gross loan to fund and equity ratio stood at 83.2%, reflecting its healthy liquidity position.

Asset Quality

The Public Bank Group’s asset quality remained sound in 2024, with its low gross impaired loans ratio of 0.5% as at end-December 2024. Domestic operations, which accounted for over 93% of the Group’s total loans, maintained a resilient asset quality with an impaired loan ratio of 0.4%, significantly lower than the industry’s impaired loans ratio of 1.4%.

Despite its sound asset quality, the Public Bank Group continued to uphold a prudent stance on loans provision. The Group’s loan loss coverage ratio of 166.2%, was higher than the industry’s average of 91.4%. Including regulatory reserves, the loan loss coverage ratio was higher at 237.7%, underscoring the Group’s strong provisioning buffer.

Non-interest Income

In terms of non-interest income, the Public Bank Group registered a notable 15.2% year-on-year growth to RM2.85 billion in 2024, primarily driven by stronger performance in unit trust, investments and stockbroking operations.

Public Mutual, a unit trust company wholly owned by the Public Bank Group, registered pre-tax profit of RM860.0 million in 2024, representing a 7.8% growth from 2023 and contributing 9.6% to the Group's overall pre-tax profit.

With a retail market share of 34.7%, Public Mutual continued to sustain its leading position in the domestic private unit trust industry. As at end-December 2024, net asset value of funds under management amounted to RM102.0 billion, comprising 185 unit trust funds.

Tan Sri Tay commented, “The Public Bank Group will further enhance its non-interest revenue stream. Following the acquisition of 44.15% stake in LPI Capital Bhd, the Group expects greater business synergies leveraging on the extended customer reach. Through strategic business collaborations, the Group will drive more cross selling activities to boost business growth of both entities.”

Overseas Operations

In 2024, the Public Bank Group’s operations in Indochina continued to expand. The Cambodian Public Bank Plc was the main profit contributor with its pre-tax profit increasing by 9.0% to RM368.0 million. Despite the challenging economy in Vietnam, Public Bank Vietnam posted pre-tax profit of RM59.5 million. 

The Public Bank Group continues to maintain an extensive branch network across Indochina, with 32 branches in Cambodia, 40 branches in Vietnam and 4 branches in Laos. New branch opening is in the pipeline in Laos as part of the Group’s ongoing expansion in the Indochina region.

Meanwhile, the financial performance of Public Financial Holdings Limited was affected by the continued economic challenges in Hong Kong. The Public Bank Group will continue to stay focused on maintaining a prudent risk profile and further improving its operational efficiency in its Hong Kong operations.

Capital and Liquidity Position

The Public Bank Group’s capital position remained intact in 2024, with Common Equity Tier 1, Tier 1, and Total Capital Ratios standing at 14.3%, 14.3%, and 17.1%, respectively.

With an average liquidity coverage ratio of 133.4% in 2024, the Public Bank Group's liquidity position remained healthy and well above regulatory requirements.

Sustainability Progress

In 2024, the Public Bank Group made significant strides in its sustainability efforts.

The Public Bank Group successfully achieved more than 67% of its 2030 target of RM100 billion in sustainable finance, which covered green financing, affordable homes and others.

Underpinned by its targets of achieving Carbon Neutral (Scope 1 and Scope 2) by 2030 and Net Zero Carbon by 2050, the Public Bank Group has developed a Group’s Decarbonisation Plan for Scope 1 and 2 carbon emission. In addressing its financed emissions, the Group has set decarbonisation targets for the cement, construction, and palm oil sectors.

As a testament to its ongoing sustainability achievements, Public Bank has successfully remained as a constituent in the FTSE4Good indices and maintained the AA rating by MSCI ESG Ratings.

Group’s Prospects

Looking ahead in 2025, Malaysia’s operating environment is expected to be favourable at a positive growth trajectory, supported by steady domestic demand, services sector growth including tourism activities as well as further progress of investment and infrastructure projects. However, downside risks remain, particularly from global headwinds stemming from geopolitical tensions and policy uncertainty.

While remaining competitive, the domestic banking sector is anticipated to remain resilient, underpinned by ample liquidity and healthy capital buffers. Banks are expected to continue to further integrate innovation and digital transformation into its business operations.

In this dynamic environment, the Public Bank Group remains confident to navigate through the uncertainties whilst actively pursuing strategic opportunities, underpinned by its prudent management and solid fundamentals. The Group’s robust corporate culture and profound organisational agility will continue to drive business innovation and sustainability initiatives, reinforcing its commitment to create value for stakeholders.

“Moving into the Public Bank Group’s 59th year of operations in 2025, the Group remains committed as a Bank for the People. The Group will continue to position itself for sustainable growth in the years to come,” concluded Tan Sri Tay.

Tan Sri Dato’ Sri Dr. Tay Ah Lek

Managing Director and Chief Executive Officer

Public Bank

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FOR IMMEDIATE RELEASE

31 January 2025

Public Bank Extends Loan Repayment Relief For Flood-affected Customers in Sabah and Sarawak

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Public Bank and Public Islamic Bank are extending repayment relief for loan and financing customers who have been affected by the present floods in Sabah and Sarawak.

Public Bank’s Managing Director and Chief Executive Officer, Tan Sri Dato’ Sri Dr. Tay Ah Lek said, “Public Bank remains committed to alleviating the financial burden of our customers affected by the floods. Public Bank’s comprehensive repayment relief and other services in place will help them to restore their livelihood.”

The repayment relief, which is also applicable to other flood-affected districts identified by Agensi Pengurusan Bencana Negara as flood disaster areas in the country, includes:

i.                 Deferment of monthly instalment for loan and financing of up to 6 months. 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 businesses.

ii.                Waiver of charges on the replacement of banking related documents, such as bank cards, passbooks and fixed deposits/Term Deposits-i receipts that have been destroyed or lost in the floods.

iii.              Immediate collaboration has been made with the Group’s subsidiary company, Lonpac Insurance Bhd for fast processing of claims by the affected customers on losses covered by insurance policies underwritten by Lonpac.

Customers who have been affected by the floods are advised to contact us for the repayment relief. 

In addition, Public Bank is also a participating financial institution for the Bank Negara Malaysia’s Disaster Relief Facility.

This facility is for the purpose of repairs and/or replacement of assets for business use, such as plants and machinery which have been damaged by floods, as well as for working capital purposes.

Contacts

Customers who require the repayment relief as well as more information may visit our Public Bank branches or contact the Bank’s general line at 03-21708000.

For insurance claims related matters, affected customers can contact Lonpac at 03-2262 8688.

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23 January 2025

Further Convenience for Public Bank Cardmembers with Garmin Pay

Public Bank (PB) is the first bank to enable Garmin Pay, enabling PB Cardmembers with PB Visa or Mastercard credit or debit cards to enjoy secure, convenient, and fuss-free payments with Garmin Pay from their Garmin wearables

Public Bank continues to offer convenience for their customers in their partnership with Garmin Malaysia, offering an easy, secure, and contactless payment method for Garmin users in Malaysia.

With the Garmin Pay launched on 21 January 2025, Public Bank Visa and Mastercard credit or debit cardmembers can seamlessly link their cards to the Garmin Pay Wallet, providing them the freedom to leave their wallets behind and embrace a streamlined payment experience for an active, on-the-go lifestyle.

Public Bank Visa and Mastercard credit or debit cardmembers, with Garmin Pay, will experience a quick and secure payment experience, whether they are fueling up after a run, grabbing groceries, or dining out with friends.

Cardmembers simply need to enter their passcode, select the right credit or debit card from the Garmin Pay Wallet, and hold their wrist near card readers for fuss-free payments.

Public Bank’s Managing Director and Chief Executive Officer, Tan Sri Dato’ Sri Dr. Tay Ah Lek said: “Garmin Pay will further add value and convenience to our cardmembers with another digital payment option, especially for the fitness enthusiasts.”

To celebrate the launch, Public Bank is offering an exclusive cashback rewards promotion for users who activate and spend using Garmin Pay from 21 January to 30 April 2025.

Public Bank cardmembers who add their Public Bank cards to their Garmin Pay and make three retail transactions using Garmin Pay within the promotion period with a minimum of RM80 per transaction will qualify for a RM30 Cash Back.

Further to that, PB Cardmembers can also enjoy discounts when they purchase selected Garmin products from 21 January till 31 December 2025. Depending on the selection of Garmin products, PB Cardmembers will enjoy 13% off or RM450 off from the purchase price.

Country Manager for Garmin Malaysia, Mr. Jimmy Chuang further reinforced this idea, saying that this partnership with Public Bank not only brings convenience to Garmin users but also, demonstrates Garmin’s commitment to delivering innovative solutions that simplify daily routines.

“We are thrilled to debut Garmin Pay in partnership with Public Bank Berhad to our users in Malaysia, a feature that aligns perfectly with our goal to empower healthier, more convenient, and connected lifestyles,” shared Mr. Jimmy Chuang, Country Manager, Garmin Malaysia. “This partnership with Public Bank not only brings convenience to our users but also demonstrates our commitment to delivering innovative solutions that simplify daily routines. We are excited for Garmin users to experience the ease of contactless payment through Garmin wearables in Malaysia.”

Garmin Pay is compatible with both iOS and Android phones. Garmin Connect App is available for download in both Google Play and App Store.

This innovative payment solution is now available on compatible Garmin smartwatches and to learn more about the Public Bank cards which is supported by Garmin Pay, visit https://www.pbebank.com/en/cards/.

To learn more about Garmin Pay and the full list of devices that support Garmin Pay, visit garmin.com.my/minisite/garmin-pay/.

Public Bank will continue to provide value, privileges and campaigns to reward all our valued Cardmembers. Sign up for “The Card that Gives You More” by visiting the nearest Public Bank branch or applying online. To find out more on other on-going promotions, log on to Public Bank’s website at www.pbebank.com or call PB Customer Service at 03-2170 8000.

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FOR IMMEDIATE RELEASE

8 January 2025

Public Bank Launches the Sustainable Financing Hub to Intensify its Efforts on Fulfilling its ESG Commitments

Public Bank is further intensifying its effort to fulfill its sustainability commitments with the launch of the Sustainable Financing Hub.

Public Bank’s Managing Director and Chief Executive Officer, Tan Sri Dato’ Sri Dr. Tay Ah Lek said, “Public Bank’s firm commitment in our sustainability goals are continuously reflected in our daily actions. This endeavour of having a Sustainable Financing Hub will further solidify and crystallise our efforts towards our objective of achieving Net Zero Carbon by 2050.”

The launch of the Hub will also support Public Bank’s customers to transition to more sustainable business practices.

The Hub, which serves as a centralised centre for capacity building, sustainable finance products, sustainability impact calculators and data collection for borrowers is accessible to the public via the website https://pbsustain.com/.

Customers can make use of the tools provided to calculate their sustainability related impacts such as Greenhouse Gas emissions – Scope 1 and Scope 2. Next, they can compute financial related impacts such as investment required and cost savings from investments in electric vehicles and solar power.

On top of that, customers can also seek solutions related to financing via Public Bank and Public Islamic Bank’s sustainability related products and services. With the Bank’s comprehensive sustainable financing options available, this will further accelerate the Bank’s commitment in achieving RM100 billion in sustainable financing by 2030.

Public Bank is also engaging with an external data collection platform to gather and understand customer’s needs, enabling the Bank to provide support tailored for customers’ needs in their transition to a low carbon economy.

Meanwhile, the public can also learn about Public Bank’s ongoing sustainability initiatives, as well as to look out for upcoming initiatives and events.

For more information, please email at sustainability@publicbank.com.my.

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