Media Release
For Immediate Release
1 December 2016
“Greet The New Year With Golden Rewards” – Public Bank Offers 24K Gold-Plated Gifts
In conjunction with the forthcoming Chinese New Year Celebration, Public Bank is pleased to announce the launch of the ‘PB Golden Fortune’ Campaign to reward our loyal customers. The promotion period of this Campaign is from 1 December 2016 to 31 March 2017 and it is open to all new and existing Public Bank customers.
This Campaign offers two exclusively designed 24K gold-plated auspicious gifts consisting of a plus size gift namely “Double Gold Bowl with Chopsticks” and a standard size gift of “Prosperity Peach”. These gifts are limited edition and each represents a magnificent piece of gold craft that symbolizes endless blessings, prosperity and good health. The gifts are limited and only available while stock lasts.
There are two plans i.e. Golden Plan and Fortune Plan for customers’ selection. Customers can purchase Unit Trust (UT), or Gold Investment Account (GIA) bundled with deposit in Current / Savings Accounts (CASA) or make deposit placement in PLUS Current / Savings Account (PLUS CASA) in order to get the exclusive gift(s). Golden Plan offers one Prosperity Peach and Fortune Plan offers one Double Gold Bowl paired with Chopsticks.
This campaign is designed for customers who are looking for diversified investment and deposit products in achieving their financial goals. Customers can choose from a vast selection of Unit Trust funds to cater to their risk appetites in order to achieve their financial goals through proper financial planning. In addition, they can choose to invest in gold without having to keep physical gold via the Gold Investment Account which has remained a popular investment tool to safeguard wealth. For customers who simply want to save their monies, they can choose to deposit in PLUS CASA.
Just select the Golden Plan or Fortune Plan of your choice and be rewarded with the limited edition 24K gold-plated gift(s). Collect both designs by signing up for multiple plans!
To find out more about this Campaign, customers are invited to meet our Financial Executives at any of our branches, log on to PBB website at www.pbebank.com or call free phone at 1-800-22-9999 during normal working hours. Terms and conditions apply.
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For Immediate Release
11 November 2016
Private Retirement Schemes Online FPX Signing Ceremony Between Public Bank Berhad and Private Pension Administrator Malaysia
Public Bank Berhad (PBB) and Private Pension Administrator Malaysia (PPA) had officially signed the Private Retirement Schemes (PRS) Online FPX Service Agreement held at Menara Public Bank, Kuala Lumpur on 11 November 2016.
The service agreement was inked by YBhg. Tan Sri Dato’ Sri Tay Ah Lek, Managing Director of PBB, and YBhg. Datuk Zaiton Binti Mohd Hassan, Chairman of PPA. Also present to witness the event were YBhg. Dato’ Chang Kat Kiam, Deputy Chief Executive Officer of PBB, En. Husaini Hussin, Chief Executive Officer of PPA, YBhg. Datuk Nozirah Binti Bahari and Mr. Ou Shian Waei, the Board of Directors of PPA, Puan Azryta Abdul Aziz, General Manager of Securities Commission as well as the Senior Management of PBB.
PPA is the central administrator for the PRS which was established in July 2012. PPA is a body approved by the Securities Commission Malaysia to oversee and promote the growth of the industry, create general awareness and educating the public on PRS as well as protecting members’ interests.
PRS Online is a new online service offered by PPA, providing PRS Members an easy, convenient and secure way to make additional PRS contributions into their existing PRS funds directly via their smartphones, tablets or computers with a few simple steps. The PRS Online is built to be mobile friendly and supported by robust e-banking infrastructure through the Financial Process Exchange (FPX) payment gateway, this online infrastructure is developed, operated and maintained by PPA.
The Private Retirement Scheme (PRS) is a voluntary long-term contribution scheme introduced in 2012 which is designed to help individuals accumulate savings for retirement. The scheme is open to all individuals aged 18 and above, including foreigners, be it employed or self-employed as a supplement to their retirement savings.
The agreement between these two parties would see PBB acting as the sole facilitator to PRS Members in performing PRS contribution via PRS Online.
PBB is committed to support Malaysia’s transformation to e-payments and will continue to launch more new initiatives to promote e-payments. The Bank has organised extensive nationwide e-Payments Forums to promote the Bank’s comprehensive online cash management and e-banking services to improve the overall efficiency of the payment system.
Public Bank offers a suite of online cash management services comprises of Public Bank Electronic Credit Payment, Direct Debit, Bill Payment, Payment Agent, JomPAY Service as well as collection service via self-service terminals.
(From left) Public Bank’s Deputy Chief Executive Officer, YBhg. Dato’ Chang Kat Kiam, Managing Director, YBhg. Tan Sri Dato' Sri Tay Ah Lek, PPA's Chairman, YBhg. Datuk Zaiton Binti Mohd Hassan and Chief Executive Officer, En. Husaini bin Hussin at the Private Retirement Scheme Online signing ceremony in Menara Public Bank, Kuala Lumpur.
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Note To Editors:
This press release is issued by
Tan Sri Dato' Sri Dr. Teh Hong Piow
Founder and Chairman of Public Bank
21 October 2016
Comments On The Budget 2017
We view positively the government’s commitment to address the nation’s fiscal challenges. Budget 2017 affirms the ongoing fiscal reforms. Prudent fiscal spending together with an expected increase in government revenue enables further reduction in budget deficit to 3.0% of GDP in 2017. Thus, Malaysia should remain on track to achieve a near balanced budget as the economy progresses into a high-income nation by 2020.
We are delighted to note the continued pro-business measures in stimulating private investments in major infrastructure projects and economic corridors. The introduction of the new scheme of income tax for companies would help to lower the cost of business and stimulate further growth of businesses including the small and medium enterprises.
We welcome the government’s wide-ranging and targeted measures to enhance the well-being of the rakyat, particularly the lower income group. Budget 2017 reflects significant strategies and initiatives to address the need of the rakyat. We note that new sources of prosperity lie in the ingenuity to mine existing resources which uncover economic opportunities and elevate the growth potential of the Malaysian economy. Particularly, raising productivity and innovation, and enhancing human capital, are essential for a sustainable economic growth ahead.
Public Bank applauds the Honourable Prime Minister and Minister of Finance for formulating Budget 2017 ─ Ensuring Unity and Economic Growth, Inclusive Prudent Spending, Wellbeing of the Rakyat. While acknowledging that current economic condition remains challenging amid global uncertainties, Malaysia continues to evolve driven by transformation from a commodity-exporting nation to a modern diversified economy.
Y.Bhg. Tan Sri Dato' Sri Dr. Teh Hong Piow
Founder and Chairman of Public Bank
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For Immediate Release
20 October 2016
Chairman’s Review
The Public Bank Group announced today another favourable set of financial results for the first nine months of 2016. As compared to the previous corresponding period, the Group’s net profit attributable to shareholders increased by 4.3% to RM3.72 billion for the first nine months of 2016, leading to a net return on equity of 15.8% for the period. Pre-tax profit grew by 2.8% to RM4.76 billion over the same period.
The Founder and Chairman of Public Bank, Tan Sri Dato’ Sri Dr. Teh Hong Piow said, “The Group has demonstrated the ability to generate stable profitability when the operating environment continued to present challenges to the business. This was attributed to the Group’s solid strategy in strengthening its niches in the retail banking business.”
During the first nine months of 2016, the Public Bank Group’s total operating revenue grew by 5.4%, mainly attributed to the Group’s continued healthy loan and deposit growth at annualised rates of 7.2% and 7.4% respectively. Against the challenging operating environment, the Group also showed resilience through its efficient cost-to-income ratio of 32.5%, and low gross impaired loan ratio of 0.5%.
Continued Healthy Loan and Deposit Growth Despite Challenging Market Environment
For the first nine months of 2016, the Public Bank Group’s total loans grew at an annualised rate of 7.2% to RM288 billion. Domestically, the Group continued to achieve above industry loan performance, with its domestic loan growth standing at an annualised rate of 7.8% compared to the domestic banking industry’s growth of 2.8%. The Group’s lending activities continued to be driven by the extension of credit mainly for the purchase of residential properties and passenger vehicles, as well as to the small and medium enterprises.
On deposit-taking, the Public Bank Group achieved an annualised 7.4% growth in total deposits for the first nine months of 2016. Having established a vast network in Malaysia, the Group competed well in growing its deposit business. This is clearly reflected in its steady growth in domestic deposits of 7.5% despite a marginal contraction observed in the overall banking sector deposits during the period.
Tan Sri Teh added that, “Against the backdrop of weak consumer and business sentiment, the Group’s loans and deposits business has fared well. As a result, the Group continued to maintain a healthy loan-to-deposit ratio of 90.2% as at end-September 2016.”
Fee-based Income
Tan Sri Teh said, “Growing fee-based revenue has remained the Public Bank Group’s key strategic focus. Our network advantage has put the Group in a favourable position to grow fee-based revenue. For the first nine months of 2016, the Group’s transactional banking and unit trust management business remained positive, contributing two-thirds of the Group’s total non-interest income.”
Public Mutual Berhad (“Public Mutual”), the Public Bank Group’s wholly-owned unit trust fund management subsidiary, remains a major contributor to the Group’s fee-based revenue. Public Mutual remained as the market leader in the private unit trust business with a strong domestic market share of 49.5% of the retail unit trust industry. As at the end of September 2016, Public Mutual has 133 funds and a total net asset value of RM70.1 billion under its management.
Efficient Cost Management
The Public Bank Group being the most cost-efficient banking group in Malaysia, has continued to maintain a low cost-to-income ratio of 32.5% during the period, significantly better than the industry’s cost-to-income ratio of 48.8%.
Tan Sri Teh commented, “The Public Bank Group’s extensive effort to pursue revenue growth during the period of uncertainty and rising operating costs has remained a key factor underlying the Group’s continued profitability.”
Strong Asset Quality
The Public Bank Group continued to uphold its strong asset quality record, with the lowest gross impaired loan ratio of 0.5% as at the end of September 2016, when compared to the banking industry’s gross impaired loan ratio of 1.7%.
Tan Sri Teh said, “Asset quality nonetheless is a concern to banks in times of challenges and uncertainties. However, the Public Bank Group is able to preserve its strong asset quality through its prudent lending policies, strong risk management practices and extensive recovery efforts.”
In addition, the Public Bank Group’s loan loss coverage ratio is also one of the highest in the banking industry, standing at 109.5% as at end-September, as compared to the banking industry’s ratio of 89.6%.
Overseas Operations
For the first nine months of 2016, the Public Bank Group’s overseas operations contributed 9.4% to the Group’s overall pre-tax profit. Public Financial Holdings Limited Group in Hong Kong and Cambodian Public Bank Plc, both subsidiaries of Public Bank, continued to be the main contributors to the Group’s overseas business growth.
Tan Sri Teh added that, “Despite the setbacks in the regional economy, the Public Bank Group will continue to build capabilities in its overseas business and envisages further growth avenue in the long term.”
Healthy Capital Position
The Public Bank Group’s capital position remained stable, with its common equity Tier 1 capital ratio, Tier 1 capital ratio and total capital ratio standing at 11.0%, 11.9% and 15.2% respectively as at end-September 2016. Tan Sri Teh highlighted that “Maintaining adequate capital cushions are essential to the perpetual sustainability of the Group’s business.”
Group’s Prospect
The global economy continues to face immense challenges as growth has remained subdued despite various stimulus measures and policies taken by major central banks. Headwinds emanating from Brexit implication, policy shifts in major economies and geopolitical issues will continue to weigh on the outlook. For the Malaysian economy, while headwinds continue to pose downside pressure to growth, expectations are for a healthy expansion given the support from domestic demand.
Tan Sri Teh commented, “The Public Bank Group’s stable performance for the first nine months of 2016 has reaffirmed the proven business strategies of the Group in withstanding challenges in the operating environment. The Group sees prudent risk management, sound corporate governance and sustaining superior asset quality continue to be the keys to maintaining trust and confidence among stakeholders and in ensuring long term sustainability of the Group’s profitability.”
Y.Bhg. Tan Sri Dato' Sri Dr. Teh Hong Piow
Founder and Chairman of Public Bank
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For Immediate Release
27 September 2016
Public Bank Launches Exhibition To Commemorate 50th Anniversary
Founder and Chairman of Public Bank, Tan Sri Dato’ Sri Dr. Teh Hong Piow officially launched the Public Bank 50th Anniversary Exhibition on 27 September 2016 at the Grand Lobby of Menara Public Bank, Kuala Lumpur. The official launch was witnessed by the Board Of Directors and Senior Management staff of Public Bank.
This exhibition is part of Public Bank’s ongoing 50th Anniversary celebration. It showcases the Bank’s countless achievements and accomplishments for the past 50 years and the Bank’s rich history from the day it was established by Tan Sri Dato’ Sri Dr. Teh Hong Piow in 1966 till now.
The highlights of the exhibits include the display of over 300 Awards and Recognitions received by the Bank over the years, pictures of Corporate Social Responsibilities Programmme activites, award winning annual reports, numerous publications, the Bank’s newsletters, magazines cover story and Public Bank’s media highlights.
Tan Sri Teh in his official address said, “As Founder and Chairman, I am indeed proud of our journey of growth. Today, Public Bank is certainly the largest non-government link bank in Malaysia. It has the best quality asset and has expanded its network regionally to the Asia Pacific region.”
He continued, “This exhibition therefore seeks to depict the rich history and corporate excellence in Public Bank. The Bank has always practised a culture of excellence, prudence and integrity. This has resulted in the Bank receiving the many awards and accolades displayed here. The Bank has also played its part as a responsible corporate citizen. These initiatives have been captured for future generations. The exhibits today showcase our many celebrations of success.”
Tan Sri Tay Ah Lek, Managing Director of Public Bank in his speech said, “Any organisation which has made its mark would have a story worth telling. In the case of Public Bank, our 50-year journey of success under the sterling leadership of our beloved Founder and Chairman, Tan Sri Dato' Sri Dr. Teh Hong Piow, is indeed a story that should be told for posterity. Public Bank’s successful journey spanning five decades is certainly a cause for celebration. The physical journey that the Bank traverses is a journey of determination, spirit and passion.”
He continued, “Bringing to life the vivid story of Public Bank under Tan Sri Chairman’s astute leadership, the exhibition will provide an interesting and meaningful glimpse of the whole make-up of Public Bank. More importantly, it highlights the enduring spirit of pursuing excellence, the philanthropic spirit of giving back to society and sharing the fruits of prosperity.”
It is indeed a landmark occasion which certainly will leave a strong testament on the success of Public Bank for many years to come and which it is hoped will inspire the young generation to achieve their dream of success.
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For Immediate Release
8 August 2016
Public Bank Bestowed With ‘50 Years Of Asian Banking Excellence’ Award From FinanceAsia On 50th Anniversary
It was not only a celebration of the Golden Jubilee for Public Bank but it was also a celebration of accomplishments and success as the Bank proudly receives the ‘50 Years Of Asian Banking Excellence’ Award from FinanceAsia last Saturday, 6 August 2016 at the Bank’s 50th Anniversary Banquet held at The Mines International Exhibition And Convention Centre. The award was presented to Founder & Chairman, Tan Sri Dato’ Sri Dr. Teh Hong Piow in the presence of more than 3,000 guests comprising of staff of Public Bank Group.
Mr. Jonathan Hirst, Publisher of FinanceAsia in his citation speech expressed his admiration towards Public Bank. He said, “As I got to know Public Bank it struck me how special this financial institution had become. The financial performance and growth of the bank was and still is fantastic.”
He continued, “Whichever indicator you look at, the performance was great – loan growth, NPL rates, profits, net interest margin, share price and this was against a backdrop of choppy financial markets, skittish shareholders and mixed macro GDP growth in Malaysia.”
“Public Bank has pioneered the retail and SME banking space in Malaysia. Other state owned Malaysian banks may have concentrated on large corporate banking but Public Bank has lent money and help nurture thousands upon thousands of one man band companies that have now become major companies.”
According to him, “Many other banks want to expand too quickly, buy overseas banks, or sometimes take too much risk, but Public Bank concentrates on its core business and skills and has delivered 50 years of banking excellence in Asia.”
Managing Director, Tan Sri Dato’ Sri Tay Ah Lek in his acknowledgement speech said, “It is a privilege for me to acknowledge on behalf of Public Bank, the award for ‘50 Years of Asian Banking Excellence’ from FinanceAsia. Recognition from such a reputable publication is always an honour. This is especially so, when FinanceAsia is well acclaimed for celebrating corporate and entrepreneurial achievements which contribute towards the fostering of business excellence. ”
He continued, “Tonight’s award is not only a sound recognition of Public Bank’s consistent achievements through the years, it is also a public acknowledgement of our Founder and Chairman, Tan Sri Dato’ Sri Dr. Teh Hong Piow. The award is made even more significant in light of Public Bank’s 50th anniversary celebration tonight.”
“With Tan Sri Chairman at the helm, Public Bank continues to be viewed as one of Malaysia's best run and most admired bank; contributing both to the economy and nation,” added Tan Sri Tay.
It is indeed a proud moment for all Public Bank staff to share in the joy of receiving such prestigious award that night as it would further spur staff to weather all challenges to surpass our current successes and bring the organisation to an even higher level of achievement.
Tan Sri Dato’ Sri Dr. Teh Hong Piow receiving the award from Mr. Jonathan Hirst
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For Immediate Release
28 July 2016
Chairman’s Review
The Founder and Chairman of Public Bank, Tan Sri Dato’ Sri Dr. Teh Hong Piow is pleased to announce the Public Bank Group’s financial results for the first half year ended 30 June 2016, “The Public Bank Group achieved a pre-tax profit of RM3.20 billion in the first half of 2016, an increase of 6.1% from RM3.02 billion in the corresponding period of 2015. Net profit attributable to shareholders amounted to RM2.49 billion, registering an increase of 5.0% from the same period last year. The improved profitability amid the increasing challenging operating environment shows that the Group’s proactive organic growth strategy with prudent banking practices has remained an edge in the competitive banking landscape.”
The Public Bank Group’s improved profit was largely driven by the Group’s continued healthy expansion in loan and deposit businesses, leading to an increase of 9.4% in net interest income. The Group’s domestic lending and deposit base have shown resilient performance despite the challenging operating environment, with domestic loans and deposits growing at healthy annualised rates of 8.3% and 7.4% respectively.
Tan Sri Teh added that, “The improved net profit performance translated into a net return-on-equity of 16.2%. Meanwhile, it also reflects the Public Bank Group’s disciplined cost management, as indicated in the Group’s cost-to-income ratio of 32.3%. The Group also continued to exhibit strong asset quality despite the moderating economic environment, with its gross impaired loan ratio remaining low and stable at 0.5%.”
“In view of the Public Bank Group’s commendable performance, I am pleased to announce that the Board of Directors has declared a first interim dividend of 26 sen, which will result in a total dividend payout of RM1.0 billion. The first interim dividend will be paid on 22 August 2016 based on the dividend entitlement date of 12 August 2016.” said Tan Sri Teh.
Healthy Loan and Deposit Growth
In the first half of 2016, the Public Bank Group’s total loans recorded an annualised growth rate of 7.3% to RM283.5 billion. Domestic loan grew stronger at an annualised rate of 8.3%, significantly higher than 2.2% annualised growth recorded by the banking industry during the period. The sustained growth performance in the Group’s loan business was mainly attributed to the continued expansion of its retail banking segment, comprising financing for the purchase of residential properties, passenger vehicles, and small and medium enterprises.
On the funding side, the Public Bank Group’s total customer deposits also grew at a healthy annualised rate of 6.9%. On the domestic front, the Group’s total customer deposits remained on positive momentum, registering a favourable 7.4% annualised growth, as compared to 0.1% growth in the domestic banking industry.
Tan Sri Teh further added that, “The Group’s funding and liquidity position has remained healthy with its loan-to-deposit ratio standing at 90.5% as at the end of June 2016.”
Contribution from Non-interest Income
The Public Bank Group continues to widen its revenue stream by growing its non-interest income. Tan Sri Teh said, “The Group’s non-interest income continued to generate revenue for the Group, with the unit trust business, foreign exchange related transactions and fee income from banking operations playing a significant part. The Group has continued to enhance its cross-selling activities and widen its product offerings, while tapping on the Group’s strong retail franchise and extensive delivery channels, to expand our non-interest income.”
The Public Bank Group’s unit trust business, undertaken by Public Bank’s wholly-owned subsidiary, Public Mutual, continued to maintain its market leadership in the private unit trust industry despite the challenging market condition. Public Mutual’s retail market share of the Malaysian private sector unit trust industry stood at 49.6% as at the end of May 2016, with 130 funds and a total net asset value of RM67.7 billion under management.
Prudent Approach in Cost Management
As at the end of June 2016, the Public Bank Group posted a cost-to-income ratio of 32.3%, significantly better than the banking industry’s average of 48.8%.
Tan Sri Teh highlighted that disciplined cost management underpins sustained profitability of the Public Bank Group, “The Group has continued to maintain a low cost-to-income ratio despite the prevailing cost pressure faced by industry players. To best serve the interests of all stakeholder groups, the Group executes careful approach in managing its operating model to ensure best cost efficiency and productivity are carried out while generating revenue growth.”
Sustained Strong Asset Quality
As at end-June 2016, the Public Bank Group’s gross impaired loan ratio stood at 0.5%, as compared to the banking industry’s 1.6%. Tan Sri Teh emphasised, “The Group’s low impaired loan ratio presents a good indication of the Group’s prudent credit administration and risk management practices. While this strengthens customer confidence, it creates considerable headroom for the Group to further grow its business. ”
Meanwhile, the impaired loans of the Group was well covered, with loan loss coverage ratio at 116.3% as at end-June 2016, compared to the banking industry’s coverage ratio of 91.2 %.
Overseas Operations
For the first half of 2016, the Public Bank Group’s overseas operations contributed 9.4% to the Group’s pre-tax profit. Public Financial Holdings Limited Group and Cambodian Public Bank Plc, both subsidiaries of Public Bank, continued to be the main contributors to the Group’s overseas business growth, generating pre-tax profit of HKD245 million and USD30 million respectively during the period.
Having become a 100% wholly-owned subsidiary of the Public Bank Group with effect from 1 April 2016, Public Bank Vietnam Limited stands in good stead to further strengthen the Group’s position in the region, and will continue to explore opportunities in pursuit of revenue growth.
Tan Sri Teh said, “The strengthening of Public Bank Group’s business in the region augurs well for its long-term business growth.”
Capital Position Well Buffered Against Risk
The Public Bank Group’s common equity Tier 1 capital ratio, Tier 1 capital ratio and total capital ratio stood at a healthy level at 11.1%, 12.0% and 15.4% respectively as at end-June 2016, after deducting the first interim dividend. Tan Sri Teh reiterated that “The Group will continue with its proactive capital management to maintain strong and efficient level of capital to sustain growth of the Group’s business.”
Group’s Prospect
As the major advanced economies remain on a slow recovery pace and growth in most Asian economies moderates, the UK decision to withdraw from the European Union has added to the uncertainties clouding the economy, posing significant downside pressure to global growth. Malaysia, while experiencing a more moderate economic growth coupled with cautious business sentiments, can expect to face continued headwinds in the near term.
In such challenging operating environment, the Public Bank Group will continue to focus on its niche in the retail banking business whilst maintaining its prudent credit policies and cost management. The Group remains steadfast in its commitment to uphold sound risk management practices to support sustainable growth. The Group is confident that its strong market position and solid banking fundamentals built over the last 50 years, will continue to lead the Group to steer through the challenges and heading towards achieving another year of favourable results.
Y.Bhg. Tan Sri Dato' Sri Dr. Teh Hong Piow
Founder and Chairman of Public Bank
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For Immediate Release
26 July 2016
Public Bank To Launch UnionPay Card In Malaysia
Public Bank, Malaysia’s third largest bank and UnionPay International, a global payment network, signed an agreement for UnionPay Debit Card Issuing Business today. With this partnership, Public Bank will be the first local bank to issue UnionPay card in Malaysia.
PB UnionPay Lifestyle Debit Card will be launched to cater to the needs for customers / businessmen particularly for those who frequently travel, offering the convenience of cards payment over carrying large amounts of cash.
UnionPay’s acceptance across 160 countries encourage Malaysians who travels often, expatriates and inbound students to take up the card.
In Malaysia, UnionPay cards issued locally and overseas are accepted at 80% of ATMs whilst 60% of merchants accept payments by UnionPay cards.
The agreement was signed by Public Bank’s Managing Director, Tan Sri Dato’ Sri Tay Ah Lek and UnionPay International’s Chief Executive Officer, Mr. Cai Jianbo at Menara Public Bank with the presence of other management staff of Public Bank and officials of UnionPay International.
Commenting at the launch, Tan Sri Dato’ Sri Tay said, “Being the first local bank in Malaysia to launch UnionPay card once again proves that Public Bank is focused in progressing and improving our core retail business to enhance our customers’ banking experience. It is also a great pleasure in partnering with UnionPay International to offer our customers another new payment option.”
Concurring on the significance of this partnership, Mr. Cai Jianbo said, “To issue UnionPay Cards with a leading local brand and institution like Public Bank is a milestone for UnionPay’s Malaysian business. This bodes well for UnionPay’s continued localisation in Malaysia, that we are fully committed to serving local businesses and consumers. And this could not have come at a better time – to celebrate Public Bank’s Golden Jubilee.
About UnionPay International
UnionPay International (UPI) is a subsidiary of China UnionPay focusing on international business. In partnership with more than 1,000 institutions worldwide, UnionPay International has extended its card acceptance to 160 countries and regions globally with issuance in over 40 countries and regions. UnionPay International provides high quality, cost effective and secure cross-border payment services to the world’s largest cardholder base and ensures convenient localized services to a growing number of global UnionPay cardholders and merchants.
For more information about UnionPay International, please visit www.unionpayintl.com.
About Public Bank Berhad
Founded in 1966 by Tan Sri Dato’ Sri Dr. Teh Hong Piow and listed on the Main Board of Bursa Securities Malaysia in 1967, Public Bank Berhad is today the leading financial services provider serving over five million customers in Malaysia. Known for its prudent management and strong corporate governance, Public Bank Berhad continues to be accorded international and domestic awards and accolades.
The Group continues to commit to deliver excellent customer service and to be more innovative in providing superior financial products and services to meet increasingly sophisticated customer demand. For more information, visit www.pbebank.com.
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For Immediate Release
25 July 2016
Public Bank And Public Islamic Bank To Reduce Its Base Rate By 23 Basis Points
Public Bank today announced the reduction in its Base Rate and Base Lending Rate/Base Financing Rate by 23 basis points effective 27 July 2016, following the reduction by Bank Negara Malaysia in the Overnight Policy Rate (“OPR”).
This will bring Public Bank's Base Rate to 3.52% and Base Lending Rate / Base Financing Rate to 6.72%.
The Founder and Chairman of Public Bank, Tan Sri Dato' Sri Dr. Teh Hong Piow said, “In line with the objective of the pre-emptive action by Bank Negara Malaysia to reduce the OPR, Public Bank reduces its lending and financing rates to pass on the benefits to the customers. The move is poised to be a positive catalyst for the Malaysian economy to continue growing on a steady path amid increasing signs of moderating momentum in global economic growth. On a positive note, domestic demand as the main engine of the Malaysian economy will remain supported by monetary accommodativeness, healthy financial condition and stable inflation in the domestic economy.”
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For Immediate Release
22 July 2016
Perusahaan Otomobil Kedua Sdn Bhd’s (Perodua) first Energy Efficient Sedan, the new Perodua “Bezza” received the thumbs-up from Public Bank during the new sedan Motorcade stop-over at Menara Public Bank in Jalan Ampang, Kuala Lumpur today.
Managing Director, Tan Sri Dato’ Sri Tay Ah Lek and Deputy CEO, Dato’ Chang Kat Kiam were on hand to receive the Perodua’s entourage led by Dr. Zahari Husin, Managing Director of Perodua Sales Sdn. Bhd.
In his welcoming speech, Tan Sri Tay Ah Lek congratulated Perodua on the launch of Perodua’s first EEV Sedan. Tan Sri Tay said, “Five years ago, Public Bank was proud to be invited to participate in the Perodua Myvi Motorcade. Today, with the unveiling of the New Perodua Bezza, the Bank’s continued participation serves as a show of our commitment in providing financing to Perodua’s new vehicles.”
He continued, “Public Bank, being the leading financier in the domestic car market, believes that the new Perodua Bezza will bring our mutually beneficial relationship with Perodua to a higher level. Moving forward, we will ensure that all our Branches and HP Centres nationwide, which specialise in providing hire purchase financing packages, will continue to support all Perodua dealers with our customer-centric service in speedy loan delivery and disbursement of hire purchase loans.”
Dr. Zahari Husin in his speech said, “I would like to take this opportunity to thank the Malaysian public as well as our valued customers for their strong support of our brand. It is because of you that Perodua was able to grow and with your honest feedback that we are able to build this car to your needs and wants.”
Tan Sri Tay thanked Perodua for its strong support given to Public Bank all these years and said that Public Bank look forward to further strengthen its business relationship with Perodua.
Tan Sri Dato' Sri Tay Ah Lek flagging off the all new Perodua Bezza
For Immediate Release
28 June 2016
Public Bank Donates RM100,000 To The Underprivileged
Founder and Chairman of Public Bank, Tan Sri Dato’ Sri Dr. Teh Hong Piow presented an outright donation totalling RM100,000 to six beneficiary organisations at Menara Public Bank today. This Hari Raya festive charity programme is one of the many CSR initiatives by Public Bank to commemorate the Bank’s 50th Anniversary this year.
The aid recipients are the National Cancer Society Malaysia (Children Home of Hope), Pertiwi Soup Kitchen, Pusat Jagaan Orang-Orang Tua Al-Ikhlas, Pusat Jagaan dan Pendidikan Warga Emas Darul Insyirah, Rumah Perlindungan Al Nasuha and Rumah Anak Yatim Nur Qaseh.
The cheque presentation was also attended by Public Bank Managing Director, Tan Sri Dato’ Sri Tay Ah Lek and Public Bank Senior Management Staff besides the officials from the organisations.
Managing Director, Tan Sri Tay Ah Lek in his welcoming speech said, “CSR initiatives have long been a part of Public Bank’s culture of caring, nurtured 50 years ago by Founder and Chairman, Tan Sri Dato’ Sri Dr. Teh Hong Piow, who believes in putting more into the world than he takes out.”
He continued, “As a leading financial institution, Public Bank has always taken its corporate social responsibility at heart. Under Tan Sri Teh’s magnanimous leadership, Public Bank, while prudently growing its balance sheet, is always mindful of its role as a good corporate citizen in the Malaysia society. Public Bank has always shared its success through its many philanthropic acts and sponsorships in its mission to positively impact society and the environment.”
“This is Public Bank’s way of saying we care, as it is in practicing generosity with the less fortunate that we get connected and collectively experience “moments of happiness”, especially with festivities around the corner,” Tan Sri Tay further added.
Over a space of 10 years, the Bank has donated over RM10 million towards education, health, environment and community causes through various CSR programme such as the tree planting campaign with MNS, Public Bank-PDRM ‘Program Anda Bijak Anda Selamat’, the Public Bank-IJN Half Way House and many others.
Although community programmes have long been considered one of the social responsibilities of the government, Tan Sri Teh Hong Piow fervently hold the view that the responsibility should not solely rest on the government. Private sectors too can put in their effort to support community initiatives.
Public Bank will continue to extend financial support with the objective of delivering positive economic and social impact to the communities in which it operates.
Indeed, with Hari Raya Aidilfitri just around the corner, Public Bank hopes to bring cheer to the less fortunate.
For Immediate Release
23 May 2016
Public Bank Launches the PB Visa Direct
Public Bank Berhad announced the launch of the PB Visa Direct, a new cross-border remittance service where Public Bank retail customers can transfer money to overseas Visa Card through PBe Online Banking and mobile app namely PB engage.
Public Bank is the first bank in Malaysia to launch Visa Direct through online and mobile channels.
PB Visa Direct allows customers to perform fund transfer quickly, safely and conveniently at anytime and anywhere to over billions of Visa card around the world. It eliminates the hassles in completing detailed information of customer and recipient as it only requires recipient name and 16 digit overseas Visa card number.
With PB Visa Direct, fund will be available in the beneficiary’s Visa card account within 30 minutes after the transaction is completed. This applies to Fast Fund enabled Visa cards, or else, the fund will be transferred and credited within 48 hours. Beneficiary can then access the fund to make purchases and withdrawal at ATMs worldwide. Parents can now send money to their children studying abroad to meet living expenses and tuition fees whilst expatriates can pay their outstanding balance on their Visa cards directly.
As part of the celebration of this launch, Public Bank Berhad is waiving the service fee of RM10 till 31 July 2016. Moreover, customers who transfer above RM500 will receive 5% Cash Rewards during the campaign period.
Present at the launch of PB Visa Direct were Dato’ Chang Kat Kiam, Deputy Chief Executive Officer of Public Bank Berhad and Mr. Ng Kong Boon, Visa Country Manager for Malaysia at Menara Public Bank in Kuala Lumpur.
To find out more about this service, customers are invited to meet our customer service representatives at any of our branches, log on to Public Bank’s website at www.pbebank.com or call PB Card Services Help Desk at 03-2176 8000. Terms and conditions apply.
About Visa
Visa Inc. (NYSE: V) is a global payments technology company that connects consumers, businesses, financial institutions, and governments in more than 200 countries and territories to fast, secure and reliable electronic payments. We operate one of the world's most advanced processing networks - VisaNet - that is capable of handling more than 65,000 transaction messages a second, with fraud protection for consumers and assured payment for merchants. Visa is not a bank and does not issue cards, extend credit, or set rates and fees for consumers. Visa's innovations; however, enable its financial institution customers to offer consumers more choices: pay now with debit, pay ahead of time with prepaid or pay later with credit products. For more information, visit www.visa.com.my, http://visaapnews.asia/ and @VisaNews.
About Public Bank Berhad
Founded in 1966 by Tan Sri Dato’ Sri Dr. Teh Hong Piow and listed on the Main Board of Bursa Securities Malaysia in 1967, Public Bank Berhad is today the leading financial services provider serving over five million customers in Malaysia. Known for its prudent management and strong corporate governance, Public Bank Berhad continues to be accorded international and domestic awards and accolades.
The Group continues to commit to deliver excellent customer service and to be more innovative in providing superior financial products and services to meet increasingly sophisticated customer demand. For more information, visit www.pbebank.com.
From left Public Bank Card Services & Support Director, Mr. Tee Chui Chee, Public Bank Retail Financial Services General Manager, Ms. Chan Chiew Peng, Public Bank Deputy Chief Executive Officer, Dato’ Chang Kat Kiam, Visa Country Manager for Malaysia, Mr. Ng Kong Boon and Visa Head of Sales for Malaysia, Mr. Tony Thong at the launch of PB Visa Direct, a new cross-border remittance service where Public Bank retail customers can transfer money to overseas Visa Card through PBe Online Banking and PB engage
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12 May 2016
Public Bank Offers Special Interest Rates on Savings Accounts
In conjunction with Public Bank’s 50th anniversary, Public Bank Berhad (PBB) has recently launched a new deposit campaign known as ‘PB 50th Anniversary Bonus Savers Reward’ which offers bonus interest rates of up to 5% p.a. on selected savings account. The campaign is open to all new and existing PBB customers aged 18 years and above with a valid Malaysian National Registration Identity Card (NRIC).
Under the campaign, customers who are holding a PLUS Savings Account (PLUS SA) or Basic Savings Account (Basic SA) and have a minimum incremental Average Daily Balance (ADB) of RM5,000 via fresh deposit throughout the campaign period will be entitled to bonus interest rates. The bonus interest rates ranging from 1.5% p.a. to 5% p.a. will be paid on the incremental ADB of minimum RM5,000 to a maximum of RM300,000 per account. The bonus interest is payable on top of the prevailing interest rates of the customer’s PLUS SA and Basic SA. The bonus interest will be credited into the customer’s account within ONE (1) month after the end of the Campaign Period.
Participation into this campaign is fast and simple where customers are only required to register their participation via a ONE (1) time Short Message Service (SMS) during the campaign period, i.e. key in PBSR <space> 12-digit NRIC No. and send to 63633. Customers who performed SMS registration for the Campaign will receive an auto reply SMS message confirmation from PBB at no cost.
‘PB 50th Anniversary Bonus Savers Reward’ will run for a period of 3 months until 31 July 2016. As this is an attractive offer for customers who wish to earn higher interest, customers are encouraged to participate in the campaign using fresh funds to be eligible for the bonus interest.
Moving forward, PBB will continue to launch more attractive campaigns to reward customers for their loyalty and patronage via a wide range of products and services offered by the Bank.
To find out more about our Campaigns, customers are welcomed to visit any of our PBB branches, log on to PBB website at www.pbebank.com or call our free phone at 1-800-22-9999 during normal working hours. Terms and conditions apply.
For Immediate Release
27 April 2016
Public Bank And KOJADI Signs JomPAY Agreement
Public Bank has been appointed by KOJADI as the Master Biller Bank for JomPAY. This tie-up with Public Bank offers KOJADI the convenience of collecting loan repayments from their customers through 40 GIRO participating member banks across Malaysia.
The agreement was inked by Public Bank’s Managing Director/Chief Executive Officer, Tan Sri Dato Sri Tay Ah Lek and Deputy Chief Executive Officer, Dato’ Chang Kat Kiam. KOJADI’s Chairman, Datuk Ng Peng Hay and its Honorary Secretary, Dato’ Yik Phooi Hong signed on behalf of KOJADI.
To support petty traders, small and medium-sized enterprises (SMEs) and entrepreneurship development, the government had announced in this year’s budget that it will to provide a SME loan totalling RM90 million. KOJADI is one of the appointed bodies managing the loan allocation to these SMEs.
Currently, other types of loan being offered by KOJADI include education and micro credit loans. KOJADI is also tasked with the disbursement of loans for Economic Transformation Programmes (ETP) such as Transformasi Kedai Runcit (TUKAR) and Automative Workshop Modernisation (ATOM).
JomPAY was launched by MyClear in accordance with the national aspiration to accelerate the adoption of e-payments in Malaysia. By establishing an accessible bill payment eco-system, JomPAY ensures that the consumers can pay bills anywhere and anytime via the secure Internet and mobile banking channels of various banks across the country. For businesses and billers, using JomPAY helps them to collect payments from customers at a minimal cost.
The collaboration between the Bank and KOJADI is in line with Bank Negara Malaysia’s directive to migrate cash and cheque payments to e-payments. Bank Negara Malaysia’s initiatives include the introduction of the e-payment incentive fund and card reform framework as measures to accelerate the migration to electronic payments.
The Bank has been an active participant in a series of e-payment roadshows and township campaigns on payment card acceptance nationwide organised by Bank Negara Malaysia which is aimed at creating awareness of the developments in the payment industry and educating the public on e-payment services.
Public Bank is committed to support Malaysia’s transformation to e-payments and will support new programme to promote e-payment in the future. The Bank has organised extensive nationwide e-Payments Forums to promote the Bank’s comprehensive cash management and e-banking services.
For Immediate Release
20 April 2016
Public Bank Group Achieved Pre-Tax Profit Of RM1.65 Billion For The First Quarter Of 2016
Chairman’s Review
Public Bank Group today announced its financial results for the first quarter ended 31 March 2016, which reflects continued growth in retail earnings against a backdrop of economic headwinds.
The Founder and Chairman of Public Bank, Tan Sri Dato’ Sri Dr. Teh Hong Piow announced that, “The Public Bank Group recorded a pre-tax profit of RM1.65 billion, representing a growth of 10.9% as compared to the last corresponding quarter. Net profit attributable to shareholders grew by 5.0% to RM1.23 billion for the same period.”
Tan Sri Teh said that, “Having started the year with a positive momentum, the Public Bank Group achieved resilient growth in the first quarter of 2016, with its domestic loans and domestic deposits recording healthy annualised growth of 9.0% and 10.9% respectively. With the resilient deposits growth, the Group continued to sustain a healthy net loan-to-deposit ratio of 89.9% as at the end of March 2016.”
Tan Sri Teh further added that, “Despite the challenging operating environment, the Public Bank Group continued to progress and deliver a favourable set of financial results by achieving a net return on equity of 16.1% whilst maintaining its low gross impaired loan ratio of 0.5% and an efficient cost-to-income ratio of 31.5% in the first quarter of 2016. The results are testament to the strength of our business model and reflect the Group’s continued focus on executing our organic growth strategy.”
Sustaining Growth Momentum in Loans and Deposits
During the first quarter of 2016, total gross loan base of the Public Bank Group increased at an annualised rate of 5.5% to RM277.2 billion as at the end of March 2016. Excluding the effect of foreign exchange fluctuation on its overseas operations, the Group’s annualised loan growth would have been 8.4% during the quarter, supported by its healthy domestic loans growth of 9.0% over the same period.
Lending to the retail banking segment remains the key focus of the Public Bank Group, with extension of credit to small and medium enterprises as well as consumer financing for purchase of residential properties and passenger vehicles. As at the end of March 2016, the Group’s retail loan portfolio collectively accounted for 85% of its total loans.
Tan Sri Teh commented that, “The Public Bank Group’s funding and liquidity position remained supportive of its lending activities, backed by its strong retail deposit franchise and its superior customer service. The Group’s total customer deposits grew at an annualised rate of 7.3% or 10.1% if excluding the foreign exchange fluctuation effects on its overseas operations. Domestic customer deposits recorded a stable annualised growth of 10.9%, as compared to a 0.04% contraction in the domestic banking industry’s deposit in the first two months of 2016.”
Resilient Growth in Net Income
Net income of the Public Bank Group recorded a resilient growth of 10.6% in the first quarter of 2016. This was attributable to the healthy growth of 9.8% in the Group’s net interest income, coupled with a 12.4% growth in its non-interest income.
Tan Sri Teh emphasised that, “Besides sustaining a healthy loan and deposit growth which contributes to its net interest income growth, the Group has continued to place great emphasis in growing its non-interest income, leveraging on its strong retail franchise, superior customer service and effective cross selling initiatives. Non-interest income of the Group continued to be driven by its unit trust management business, foreign exchange business and fee income from its banking operations.”
The Public Bank Group’s unit trust income constituted one-third of the Group’s total non-interest income. Public Mutual Berhad (”Public Mutual”), the Group’s wholly-owned subsidiary, remained as the market leader in the private unit trust industry with a total net asset value of RM67.2 billion, capturing a retail market share of 49.6%.
To further drive the Public Bank Group’s unit trust business, Public Mutual will continue to maintain its strong brand and leading market position in the private unit trust industry in Malaysia through the delivery of efficient customer service to its clients as well as expand and diversify its product range to meet investors’ demand.
Observing Prudent Cost Management
Tan Sri Teh highlighted that, “The Public Bank Group’s cost-to-income ratio remained efficient at 31.5% in the first quarter of 2016, well below the banking industry’s average cost-to-income ratio of 48.8%, making the Group the most cost-efficient bank in Malaysia.”
“To ensure cost sustainability amid the challenging business landscape, the Public Bank Group will continue to practise prudent cost discipline, deploy adequate resources to review and improve its business processes, and ensure optimum utilisation of its infrastructure to further enhance efficiency and productivity while ensuring strict compliance with internal operation standards and procedures,” added Tan Sri Teh.
Upholding Asset Quality
“The Public Bank Group continued to sustain its resilient asset quality with a stable gross impaired loans ratio of 0.5%, which was significantly lower than the Malaysian banking industry’s gross impaired loans ratio of 1.6%. This is a result of the Group’s consistent adoption of strict and prudent credit policies, coupled with its efficient and effective loan approval and recovery processes,” said Tan Sri Teh.
Despite the strong asset quality, the Group has maintained a prudent loan loss coverage ratio of 120.1% as at the end March 2016, higher than the Malaysian banking industry’s ratio of 92.8%.
Overseas Operations
For the first quarter of 2016, the Public Bank Group’s overseas operations contributed 9.5% of the Group’s overall pre-tax profit. Cambodian Public Bank Plc (“Campu Bank”), a wholly-owned subsidiary of Public Bank, reported a commendable growth in pre-tax profit of 18.8% to USD16.5 million as compared to the corresponding quarter in 2015.
Public Bank had on 24 March 2016 received the 100% foreign-owned bank licence from the State Bank of Vietnam in relation to the Group’s acquisition of the remaining 50% equity capital in VID Public Bank (VPB), the 50:50 joint venture bank with Joint Stock Commercial Bank for Investment and Development of Vietnam.
Effective 1 April 2016, VPB has become a 100% wholly-owned subsidiary of the Public Bank Group and renamed as Public Bank Vietnam Limited (PBVN).
Tan Sri Teh said that, “The issuance of the 100% foreign-owned bank licence to PBVN will strengthen the Public Bank Group’s regional presence in Indo-China. Campu Bank is currently the third largest bank in Cambodia with a network of 28 branches, whilst Public Bank has 4 branches in Laos PDR. The inclusion of PBVN as a wholly-owned subsidiary augurs well for the Group to maximise its synergy within Indo-China and strengthen the PB Brand within the region.”
Ensuring a Healthy Capital Position
The Public Bank Group’s capital position remained stable, with its common equity Tier 1 capital ratio, Tier 1 capital ratio and total capital ratio standing at 10.8%, 11.8% and 15.2% respectively as at the end of March 2016.
Tan Sri Teh emphasised that, “We will continue to be proactive in our capital management in order to ensure that the Group is well positioned to support its business growth strategies by balancing the need for higher capital retention under the Basel III capital regime whilst maximising our shareholders’ return.”
Group’s Prospect
“Moving forward, the Public Bank Group will remain focused on driving organic growth in its core retail banking and financing business by leveraging on its strong PB Brand, its wide and efficient branch network and its superior customer service. We will continue to maintain prudent credit policies, as well as upholding strong corporate governance,” remarked Tan Sri Teh.
“Looking ahead in 2016, economic headwinds, intense competition and compression in net interest margins will remain the challenges for the banking sector. However, the Public Bank Group has withstood the challenge of times for the past 50 years and we believe our solid business model and strong footing in the domestic banking landscape will continue to lead us to navigate the challenges ahead and achieve continued sustainable growth,” concluded Tan Sri Teh.
Y.Bhg. Tan Sri Dato' Sri Dr. Teh Hong Piow
Founder and Chairman of Public Bank
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For Immediate Release
8 April 2016
Public Bank Berhad launched the PB World MasterCard Credit Card, offering the market with excellent accessibility and superior privileges that complement the lifestyle of today’s discerning Malaysian consumers.
The PB World MasterCard Credit Card is targeting the affluent market segment with a minimum annual income of RM150,000. To cater to consumers’ frequent travels, the card offers 3x Air Miles Points for every RM1 overseas transaction and 1x Air Miles Point for every RM1 local transaction. Air Miles conversion to Cardmembers’ choice of frequent-flyer points is offered at a very competitive rate. To further enhance Cardmembers’ travel experience, the Card gives complimentary access to Plaza Premium Lounge and free automatic travel insurance of up to RM2 million.
To celebrate the launch, Public Bank Berhad is offering a lifetime annual fee waiver and 8% Cash Back on dining and grocery transactions from 25 February 2016 to 30 June 2016.
Present at the launch of PB World MasterCard Credit Card at Menara Public Bank in Kuala Lumpur were Dato’ Chang Kat Kiam, Deputy Chief Executive Officer of Public Bank Berhad and Ms. Chan Chiew Peng, General Manager of Public Bank Retail Financial Services, together with Mr. Safdar Khan, Group Country Manager, Indonesia, Malaysia, and Brunei; Group Head, Islamic Payments, Southeast Asia, MasterCard and Mr. Chayan Hazra, Vice President, Head of Sales, MasterCard Malaysia.
Commenting at the launch, Dato’ Chang Kat Kiam, Deputy Chief Executive Officer of Public Bank Berhad said, “The PB World MasterCard Credit Card is the latest product introduced by the Bank as part of our initiative to provide a credit card that suits consumers’ ever-changing needs. This product will also suit well for customers with frequent travelling lifestyle.”
“We are delighted to partner with Public Bank on the launch of the new PB World MasterCard Credit Card. Featuring our contactless payment technology, we hope to provide Malaysian consumers with a faster and more convenient way to pay for everyday purchases. Coupled with best-in-class privileges and rewards, we believe the newly launched card will meet the lifestyle needs of today’s consumers as they embrace contactless payments,” said Safdar Khan, Group Country Manager, Indonesia, Malaysia, and Brunei; Group Head, Islamic Payments, Southeast Asia, MasterCard.
To find out more about this Card, customers are invited to visit customer service representatives at any of our branches, log on to Public Bank’s website at www.pbebank.com or call PB Customer Service at 03-2176 8188. Terms and conditions apply.
Highlights of the PB World MasterCard Credit Card
Airport Privileges
- Priority Pass welcomes you at over 700 airport VIP lounges worldwide, regardless of the airlines you fly or the class you travel with 25% discount on annual membership fee. You’ll be able to relax, unwind or work in luxurious airport lounges around the world.
- Enjoy 15% off the retail rate for Meet and Greet Services at over 450 airports
- Complimentary upgrade to Gold status with Starwood Preferred Guest after one night stay when you pay with World MasterCard Credit Card at participating resorts in Asia Pacific
- Complimentary one-year Leaders Club membership when you book a one night stay with The Leading Hotels of the World. With over 430 Leading Hotels in over 80 countries, you will be able to enjoy the finest hospitality that caters to your needs
- Complimentary Michelin-starred lunch, private sightseeing tour and bottle of fine wine with MasterCard’s Gourmet on Tour Programme.
- Complimentary HERTZ Gold Plus Rewards membership
- 10% off for all car groups (exclude Dream Cars) with minimum 1 day rental and 10% off + Free two-car-class upgrade with minimum 4 days rental with Hertz
MasterCard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardAP and @MasterCardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.
About Public Bank Berhad
Founded in 1966 by Tan Sri Dato’ Sri Dr. Teh Hong Piow and listed on the Main Board of Bursa Securities Malaysia in 1967, Public Bank is today the leading financial services provider serving over five million customers in Malaysia. Known for its prudent management and strong corporate governance, Public Bank continues to be accorded international and domestic awards and accolades.
The Group continues to commit to deliver excellent customer service and to be more innovative in providing superior financial products and services to meet increasingly sophisticated customer demand. For more information, visit www.pbebank.com.
(From left) Ms. Chan Chiew Peng, Dato' Chang Kat Kiam, Mr. Safdar Khan and Mr. Chayan Hazra at the launching ceremony
For Immediate Release
5 April 2016
FPX Signing Ceremony Between Public Bank Berhad And AirAsia Berhad
The agreement was inked by Public Bank’s Managing Director/Chief Executive Officer, Tan Sri Dato’ Sri Tay Ah Lek and Deputy Chief Executive Officer, Dato’ Chang Kat Kiam. AirAsia’s Chief Executive Officer, Cik Aireen Omar and its Head of Commercial, Mr. Spencer Lee signed on behalf of AirAsia. The event was also graced by Malaysian Electronic Clearing Corporation Sdn. Bhd.’s (MyClear) Managing Director, Mr. Peter Schiesser.
MyClear is the owner and operator of FPX. FPX is an online payment solution that allows customers of e-commerce sites the convenience of paying for their online purchases securely from their bank accounts. For e-commerce merchants, FPX is one of the most cost effective, efficient and safe methods of collecting payments. Payments made via FPX are credited immediately to the merchant’s bank account so that merchants receive full instantaneous payment before providing services or shipping goods.
The tie-up offers AirAsia’s travellers the convenience of purchasing tickets via AirAsia’s website by debiting their bank accounts maintained with Public Bank Berhad and 22 other participating FPX banks encompassing 98% of bank customers in Malaysia. This service is available 24 hours a day, 7 days a week.
Public Bank Berhad is committed to support Malaysia’s transformation to e-payments and will launch new initiatives to promote e-payment in the future. The Bank has organised extensive nationwide e-Payments Forums to promote the Bank’s comprehensive cash management and e-banking services.
(From left) Dato' Chang Kat Kiam, Cik Aireen Omar, Tan Sri Dato' Sri Tay Ah Lek, Mr. Peter Schiesser and Mr. Spencer posing
For Immediate Release
28 March 2016
Public Bank’s 50th Annual General Meeting Held On 28 March 2016
Performance Review
Tan Sri Teh said, “The Public Bank Group achieved another profit milestone in 2015 with pre-tax profit of RM6.49 billion, crossing the RM6 billion mark for the first time. This represents 11.6% growth as compared to 2014. Net profit attributable to shareholders grew by 12.0% to RM5.06 billion in 2015, resulting in earnings per share increasing from 123.7 sen in 2014 to 131.1 sen in 2015.”
Tan Sri Teh added, “The Public Bank Group continued to maintain its leading position amongst its banking peers in Malaysia with the highest net return on equity of 17.8%, most efficient cost to income ratio of 30.5% and lowest gross impaired loans ratio of 0.5%.”
Tan Sri Teh highlighted that, “Despite the challenging operating environment, the Public Bank Group’s loans and deposits grew at a healthy pace of 11.6% and 8.9% respectively. Domestic loans increased by 10.3%, higher than the industry’s growth rate of 7.9%. In particular, domestic customer deposits grew by 7.5%, significantly higher than the industry’s deposits growth of 1.8%. This has led to improved market shares of loans and deposits in the domestic market.”
Tan Sri Teh added, “In view of the Group’s good performance in 2015, a second interim dividend of 32 sen was paid on 1st March 2016. Together with the first interim dividend of 24 sen paid in August 2015, total dividend for 2015 amounted to 56 sen.” The total dividends paid for 2015 was RM2.16 billion, representing a payout of 42.7% of the Group’s net profit for 2015.
Above-industry Growth in Loans and Customer Deposits
The Group’s loans growth continued to be propelled by financing for the purchase of residential properties and passenger vehicles as well as commercial lending to small and medium enterprises for the purchase of commercial properties and working capital. As at the end of 2015, the Group’s retail consumer and commercial loans and financing portfolio collectively formed 86% of its total loans and financing.
Tan Sri Teh further added, “The Group’s domestic loans market share improved to 17.5% as at the end of 2015, from 17.1% a year ago. The Group sustained its leading market share positions in the domestic financing for purchases of residential properties, commercial properties and passenger vehicles, with market shares of 19.2%, 33.8% and 29.6% respectively as at the end of 2015.
On the funding side, the Group continues to be supported by its strong retail franchise and large depositor base of over five million customers. The Group’s above industry customer deposits growth has resulted in domestic market share of customer deposits expanding to 16.6% as at the end of 2015, from 15.9% a year ago.”
Superior Asset Quality
Tan Sri Teh said, “The Public Bank Group’s asset quality remains the best in the banking industry. Gross impaired loans ratio remained low at 0.5% in 2015, about one-third that of the banking industry’s gross impaired loans ratio of 1.6%.”
The Group's loan loss coverage ratio of 120.8% as at the end of 2015 was also higher as compared to the Malaysian banking industry’s ratio of 96.2%. Inclusive of regulatory reserves set aside, the Group’s loan loss coverage was significantly higher at 258.6%.
International Operations
The pre-tax profit of the Public Bank Group’s overseas operations grew by 32.5% to RM572.2 million in 2015, contributing 8.8% to the Group’s overall pre-tax profit in 2015. Excluding the effect of favourable foreign exchange movement, the pre-tax profit of the Group’s international operations grew by 12.5% mainly contributed by Cambodian Public Bank Plc, a wholly-owned subsidiary of Public Bank, which registered a pre-tax profit growth of 15.7% to USD58.5 million in 2015.
Sustaining Growth in Non-Interest Income
Growing non-interest income remains a key strategic focus of the Public Bank Group. In 2015, the Group’s non-interest income increased by 22.4% as compared to 2014. This was mainly due to higher income from unit trust business, foreign exchange transactions and fee income from banking operations.
Tan Sri Teh said, “The Public Bank Group’s unit trust management business undertaken by its wholly-owned subsidiary, Public Mutual Berhad (“Public Mutual”), continued to be a main contributor to the non-interest income growth of the Group. In 2015, Public Mutual recorded pre-tax profit of RM541.2 million and sustained its market leadership in the private unit trust business with 122 funds under its management. Total assets under management of Public Mutual stood at RM64.8 billion, capturing an overall retail market share of 48.9%.”
Healthy Capital Position
The Public Bank Group’s capital position remained healthy with its common equity Tier I capital ratio, Tier I capital ratio and total capital ratio standing at 10.9%, 12.0% and 15.5% respectively as at the end of 2015, after deducting second interim dividend.
Tan Sri Teh commented that, “Public Bank is well-positioned to ensure compliance with the more stringent requirements of the Basel III capital framework, including any additional capital buffer to be introduced by Bank Negara Malaysia, without restraining the Group’s organic business growth strategy.”
Superior Returns to Shareholders
The Public Bank Group continues to deliver consistent and excellent returns to its shareholders, even during challenging times, clearly demonstrating the defensive quality of the investment made in Public Bank.
Tan Sri Teh highlighted, “If a shareholder of Public Bank had bought 1,000 shares in Public Bank when it was listed in 1967, and assuming the shareholder had subscribed for all rights issues to date and had not sold any of the Public Bank shares, he would have 148,938 Public Bank shares worth RM2.76 million as at 31 December 2015. In addition, he would have received total gross dividends of RM1.08 million. This translates into a total value of RM3.84 million, representing a remarkable compounded annual rate of return of 19.1% for each of the 48 years since 1967.”
Corporate Responsibility
The Public Bank Group continues to adopt sustainable practices in its core business of banking. The Group also supports a broad range of activities and initiatives to promote sustainability in the communities in which it operates. On education, the UTAR-Tan Sri Dato’ Sri Dr. Teh Hong Piow Student Loan Fund and TARC- Tan Sri Dato’ Sri Dr. Teh Hong Piow Student Loan Fund continued to benefit the students of University Tunku Abdul Rahman and Tunku Abdul Rahman College to fulfil their ambition in education. On healthcare, the Group continued to lend a helping hand to the National Blood Bank and Institut Jantung Negara by promoting their activities at Public Bank’s premises. In response to the flood disaster in the country at the end of 2014, Public Bank provided financial assistance to those affected by the floods via the Special Relief Facility initiated by Bank Negara Malaysia. In support of environment sustainability, the Public Bank Group’s new 40-storey building for Public Mutual’s head office is designed with green concepts and built using eco-friendly materials and technologies.
“Through the Group’s banking business, the Group serves retail consumers and small and medium enterprises, and promote economic as well as social development by encouraging savings and mobilising funds towards the development of trade and commerce. As a testimony to the Group’s sustainability initiatives, Public Bank has been included in the FTSE4Good Bursa Malaysia Index in 2015,” said Tan Sri Teh.
Recognition of Banking Excellence
Tan Sri Teh commented that, “The Public Bank Group continued to garner international awards in recognition of its banking excellence.” The awards received include:
- Best Bank in Malaysia 2015 by Global Finance
- Best Bank in Malaysia 2015 by FinanceAsia
- Best Bank in Malaysia 2015 by Alpha Southeast Asia
- Best Bank in Malaysia 2015 by Euromoney
- Strongest Bank by Balance Sheet in Malaysia 2015 by The Asian Banker
- Best Domestic Bank in Malaysia 2015 by Asiamoney
- Best Domestic Bank in Malaysia 2015 by The Asset
- Domestic Retail Bank of the Year - Malaysia 2015 by Asian Banking & Finance
- Malaysia Automotive Finance Company of the Year 2015 by Frost & Sullivan
- The BrandLaureate Billion Dollar Brand Award 2014-2015 by Asia Pacific Brands Foundation
- The BrandLaureate Special Edition World Awards as a Premier Corporate Brand 2015 by Asia Pacific Brands Foundation
Corporate Governance Awards
Tan Sri Teh said, “The Public Bank Group’s pursuit of excellence in corporate governance continued to be recognised by reputable international publications and independent organisations.” These include:
- The 5th Asian Excellence Recognition Awards 2015 for Best Corporate Social Responsibility for Malaysia, Best Investor Relations Company for Malaysia, Best Environmental Responsibility for Malaysia and Best Corporate Communications Team for Malaysia by Corporate Governance Asia
- Corporate Governance Asia Recognition Award 2015 for Malaysia (Icon on Corporate Governance) by Corporate Governance Asia
- Ranked No. 1 in the ‘Most Committed to Paying Good Dividends’ category in the FinanceAsia’s “Asia’s Best Companies Poll 2015”
- The Asset Platinum Corporate Award 2015 for All-Round Excellence in Financial Performance, Management, Corporate Governance, Social Responsibility, Environmental Responsibility and Investor Relations by The Asset
- MSWG – ASEAN Corporate Governance Transparency Index, Findings and Recognition 2015 for Excellence Award for Top 5 Corporate Governance and Performance (Overall), Excellence Award for Long-Term Value Creation (Overall Category), Industry Excellence – Financial and Merit Award for Corporate Governance Disclosures by Minority Shareholder Watchdog Group
- Inclusion in the FTSE4Good Bursa Malaysia Index by Bursa Malaysia
Tan Sri Teh said, “In 2016, Public Bank celebrates its 50th year of operations in Malaysia. Public Bank was envisioned as the “bank for the people” and over the last half a century, the Group has achieved many corporate milestones. With its 49 years of unbroken profitability track record, the Group has established its leading position in the banking industry.”
On the strategic directions and outlook for the Public Bank Group, Tan Sri Teh commented that, “The Group enters 2016 mindful of the ongoing economic and business challenges, yet confident that it has what it takes to surge ahead. Going forward, the Group will remain focused on its core retail banking and financing business, whilst maintaining its prudent credit policies, as well as upholding strong corporate governance. Moving into the Group’s 50th anniversary in 2016, the Group is confident that it is well positioned to achieve sustainable growth in the future.”
Y. Bhg. Tan Sri Dato' Sri Dr. Teh Hong Piow, Founder and Chairman of Public Bank welcoming the shareholders
For Immediate Release
25 March 2016
Public Bank Receives 100% Foreign-Owned Bank Licence In Vietnam
For Immediate Release
14 March 2016
Tan Sri Teh Hong Piow Conferred The Royal Order Of Monisaraphon, Commander By The Royal Government Of The Kingdom Of Cambodia
Founder and Chairman of Public Bank, Tan Sri Dato’ Sri Dr. Teh Hong Piow has been conferred The Royal Order of Monisaraphon, Commander by the Royal Government of the Kingdom of Cambodia on 12 March 2016, the first Malaysian banker ever to receive the Royal Order.
The conferment which came on Tan Sri Teh’s Grand 86th birthday was another icing on Tan Sri Teh’s long list of lifetime accolades and recognition.
The Royal Order of Monisaraphon, Commander from the Royal Government of the Kingdom of Cambodia is in recognition of Tan Sri Teh’s outstanding leadership and immense social economic contribution towards the progress and development of Cambodia over the last 24 years. Cambodian Public Bank Plc, the wholly-owned subsidiary of Public Bank first opened its door in Cambodia in 1992.
The Royal Order of Monisaraphon, Commander was founded by the French on 1 February 1905 and conferred to outstanding Cambodian individuals who had excelled and contributed in the fields of literature, history and science. These fields were subsequently expanded to include education, fine art and social on 5 October 1995.
The prestigious award was approved by the Council of Ministers with the letter of award and certificate personally signed by the Head of Government, Prime Minister Samdech Hun Sen.
Tan Sri Teh in his acknowledgement said, “I thanked the Royal Government of the Kingdom of Cambodia and the National Bank of Cambodia for having approved Cambodian Public Bank to be the first foreign bank to set-up business 24 years ago which allowed us to be a partner in the nation’s development and progress, as well as promoting excellence and building a strong corporate culture - a culture of integrity and discipline. I would also like to dedicate this award to our customers, shareholders and business associates.”
With this award, Tan Sri Teh has received a total of 45 personal to holder awards in recognition of his exemplary commitment to excellence and lifetime dedication to the banking industry in the Asian Region.
Caption: (From left) Mr. Phan Ying Tong, Regional Head of Indo-China Operations, Tan Sri Dato’ Sri Dr. Teh Hong Piow and Tan Sri Dato’ Sri Tay Ah Lek at the award presentation ceremony
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For Immediate Release
18 February 2016
Launching Of PB eFixed Deposit Account
Public Bank Berhad has launched the PB eFixed Deposit Account (PB eFD), targeted at customers who are seeking for banking convenience through e-banking. The PB eFD is a “Go Green” paperless fixed deposit account which allows Account creation, placements and withdrawals to be performed online via PBe Online Banking (PBe).
PB eFD is hassle free for customers as they are able to enjoy Fixed Deposit (FD) interest rate just by applying for a PB eFD account and making FD transactions anywhere via PBe seven (7) days a week. The PB eFD placements are carried out in real time with minimum placement from as low as RM1,000.
PB eFD is open to individual customers aged 18 years and above as well as sole proprietors, who have existing conventional personal Current Accounts or Savings Accounts and who have registered for PBe.
Customers are able to enjoy their interest earned before the maturity as PB eFD offers the option of monthly automatic crediting of interest into customers’ Current Account or Savings Account. Besides that, PB eFD offers automatic renewal for the same tenure at the prevailing board rates for the convenience of customers.
Just one click to enjoy higher interest! In conjunction with the launch of PB eFD, Public Bank is running a "PB eFD Campaign" from 12 January to 31 March 2016 offering higher promotional interest rates of up to 3.60% p.a. for tenure 3 months and above. With “PB eFD Campaign”, customers can watch their money grow and earn competitive interest rates.
Minimum efforts are required to participate in the PB eFD Campaign as customers just have to open a PB eFD account via PBe and make a minimum PB eFD placement amount of RM1,000 during the campaign period in order to enjoy the higher promotional interest rates.
To find out more about PB eFD and its campaign, customers may log on to Public Bank website at www.pbebank.com or call 03-2179 5000 during normal working hours. Terms and conditions apply.
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For Immediate Release
3 February 2016
Public Bank Group Recorded RM6.49 Billion Pre-Tax Profit For 2015 And Declared Second Interim Dividend Of 32 Sen
The Founder and Chairman of Public Bank, Tan Sri Dato’ Sri Dr Teh Hong Piow announced today that “The Public Bank Group achieved yet another milestone financial results in 2015 with pre-tax profit of RM6.49 billion, surpassing the RM6.0 billion mark for the first time. This represents 11.6% growth from the pre-tax profit of RM5.81 billion achieved a year ago. Net profit attributable to shareholders grew by 12.0% to RM5.06 billion, translating to a net return on equity of 17.8% for 2015.” The Group’s operating revenue rose by 13.8% to RM19.2 billion from RM16.9 billion a year ago.
On a quarterly basis, the Public Bank Group recorded a net profit attributable to shareholders of RM1.49 billion in the fourth quarter of 2015. This represented a growth of 19.0% as compared to RM1.25 billion achieved in the previous corresponding quarter. Similarly, pre-tax profit for the quarter also grew by 18.5% to RM1.86 billion as compared to the previous corresponding quarter.
“The Malaysian economy is faced with increasing challenges arising from low commodity prices, volatility in the financial market and the weak external environment. Against the macro backdrop, the Public Bank Group continued to demonstrate resilience in performance by achieving healthy loan growth of 11.6% and deposit growth of 8.9%. The results reflected the consistent execution of the Group’s organic growth strategy which continues to deliver favourable results to our customers and our shareholders,” commented Tan Sri Teh.
Tan Sri Teh further added that, “With the favourable financial performance, not only did the Group continue to preserve its coveted track record of 49 years of unbroken profitability since the commencement of its operations, it also continued to stand out amongst its Malaysian banking peers by delivering the highest net return on equity of 17.8%, as well as the best in asset quality and cost efficiency.”
In view of the Public Bank Group’s commendable performance in 2015, Tan Sri Teh announced that, “The Board of Directors has declared a second interim dividend of 32 sen, taking full year dividend for 2015 to 56 sen.” The total dividend paid and payable for 2015 amounted to RM2.16 billion and represents a total payout of 42.7% of the Group’s net profit for 2015.
Healthy Growth in Loans and Deposits
For the financial year ended 31 December 2015, the Public Bank Group sustained a healthy loan growth momentum at a rate of 11.6%. Domestic lending business grew by 10.3% over the same period, outpacing the domestic banking industry’s loan growth rate of 7.9%.
The Public Bank Group’s loan growth was mainly attributed to the lending growth in its retail banking segment, comprising financing for the purchase of residential properties and passenger vehicles, as well as extension of credits to small and medium enterprises. The Group’s retail loan portfolio collectively accounted for 86% of its total loans.
Despite the challenging operating environment, the Group’s total customer deposit has also recorded a healthy growth rate of 8.9% during the year. The Group’s domestic customer deposit grew by 7.5%, significantly higher than the domestic banking industry’s growth rate of 1.8%.
“The Group’s robust funding position was mainly supported by its strong retail franchise and large domestic depositor base of over five million customers who continue to place their trust and confidence in the Group in safeguarding their funds,” remarked Tan Sri Teh.
With the steady inflow of customer deposits, the Public Bank Group remains well funded with a healthy net loan to deposit ratio of 90.3% as at the end of 2015.
Sustaining Growth in Non-Interest Income
Tan Sri Teh highlighted that “Growing fee-based revenue remains as a key strategic focus of the Public Bank Group.” Arising from the Group’s initiative to drive growth of its non-interest income in order to sustain better return for its shareholders, the Group’s non-interest income increased by 22.4% in 2015 as compared to 2014. This was mainly contributed by higher income from its unit trust business, foreign exchange related transactions and fee income from banking operations.
The Public Bank Group’s unit trust management business undertaken by its wholly-owned subsidiary, Public Mutual Berhad (“Public Mutual”), continued to contribute positively to the non-interest income growth of the Group. For the year 2015, fee income from unit trust business made up 33% of the Group’s total non-interest income. As at the end of 2015, Public Mutual manages 122 funds with a total net asset value of RM64.8 billion and has remained as the market leader with an overall retail market share of 48.9% in the private unit trust business. The Public Bank Group will continue to enhance and invest in the infrastructure and the wide distribution network of Public Mutual, while ensuring appropriate risk management processes are in place to safeguard the investment of funds of its customers.
Sustained High Productivity and Cost Efficency
“The Public Bank Group continued to be the most efficient banking group in Malaysia with its low cost-to-income ratio of 30.5% as compared to the banking industry’s average cost-to-income ratio of 45.5%,” said Tan Sri Teh.
Tan Sri Teh added that, “The Group is committed to continue with prudent cost discipline at all times and to consistently pursue high productivity and cost efficiency in all aspects of its operations, prioritising the investment and deployment of resources and technology to where they are most effective without compromising on compliance and service quality.”
Superior Asset Quality
Tan Sri Teh highlighted that, “Amidst the prevailing economic uncertainties and challenges, the Public Bank Group continued to demonstrate resilience in its asset quality.”
As at the end of 2015, the Public Bank Group’s impaired loan ratio remained low at 0.5%, significantly lower than the industry ratio of 1.6%. The Group’s loan loss coverage ratio of 120.8% as at the end of 2015 was also higher as compared to the Malaysian banking industry’s ratio of 96.2%.
Tan Sri Teh further added, “To safeguard its strong asset quality while maintaining steady growth in its lending business, the Group will continue to adopt prudent approach and practices in managing the quality of its loan portfolio right from origination to the recovery of impaired loans. These include establishing strict and prudent credit policies, as well as putting in place efficient and effective approval and recovery processes.”
Overseas Operations
The pre-tax profit of the Public Bank Group’s overseas operations grew by 32.5% from RM431.9 million in 2014 to RM572.2 million in 2015, contributing 8.8% to the Group’s overall pre-tax profit for 2015. Excluding the effect of favourable foreign exchange impact on the Group’s Overseas Operations, the pre-tax profit growth was 12.5% mainly contributed by Cambodian Public Bank Plc, a wholly-owned subsidiary of Public Bank, which registered a pre-tax profit growth of 15.7% to USD58.5 million as compared to 2014.
Tan Sri Teh commented that, “The Group remains committed to expand its presence in the region through organic growth strategy and will continue to transfer its best practices from its domestic operations to accelerate business growth in its overseas operations.”
Healthy Capital Position
The Public Bank Group continued to maintain a healthy level of capital with its common equity Tier 1 capital ratio, Tier 1 capital ratio and total capital ratio standing at 10.9%, 12.0% and 15.5% respectively as at the end of 2015, after deducting the second interim dividend.
Tan Sri Teh emphasised that, “Public Bank will continue to be proactive in its capital management in order to ensure that the Group’s capital position remains healthy at all times in support of the Group’s business growth strategies and maximising its shareholder value while balancing the need for higher capital retention as required under the Basel III capital regime.”
Group’s Prospect
“Outlook for the Malaysian economy is expected to remain steady, but there are challenges ahead. Gross Domestic Product growth is expected to be between 4.0% and 4.5% in 2016. On the banking industry front, we expect intense competition for market share and the more stringent capital and liquidity requirement, will continue to put pressure on net interest margin and return on equity.
The Public Bank Group will continue to pursue organic growth strategy in the core retail banking and financing business, whilst maintaining its prudent credit policies, as well as upholding strong corporate governance. Facing the challenges ahead, the Public Bank Group’s key priorities are to accelerate business innovation and pursue operational efficiency in order to deliver the Group’s commitment to excellence to all its stakeholders.
Public Bank has over the last 49 years, established its leading position in the banking and finance industry. Moving into our 50th year anniversary in 2016, we are confident that we are well positioned for sustainable growth into the future.” concluded Tan Sri Teh.
Y.Bhg. Tan Sri Dato' Sri Dr. Teh Hong Piow
Founder and Chairman of Public Bank
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For Immediate Release
22 January 2016
Public Bank Berhad launched the PB MasterCard Lifestyle Debit, exclusively to the Bank’s banking customers of all segments. It is tailored for the market as a combo debit card which function as an ATM card, domestic and international debit card thus enabling retail transactions to encourage customers to go cashless.
Using the PB MasterCard Lifestyle Debit, customers will be entitled to a 1.0% Cash Back for Overseas Retail Transactions and Overseas Online Transactions. The cash back will be credited into the banking account on a monthly basis. This helps to relieve the burden of PB travelers carrying cash when they are traveling around the world and this will further galvanize the cashless initiative.
The new debit card features MasterCard Contactless which enables payments with a simple tap at any contactless-enabled payment terminal at over 3 million merchants worldwide. No signature or PIN is required as long as the retail purchase is RM250 and below. This added feature will further enhance PB customer’s experience enabling them to spend less time queuing at the cashier counter by offering a secure, fast and convenient way to pay for everyday purchases.
For the launch promotion, Public Bank will reward the first 10,000 qualified Public Bank Lifestyle Debit Cardmembers with a RM38 Cash Back upon three retail transactions of any amount charged on the card within the first month from card issuance date.
To find out more about this Card, customers are invited to meet our customer service representatives at any of our branches, log on to Public Bank’s website at or call PB Customer Service at 03-2176 8000. Terms and conditions apply.
About MasterCard
MasterCard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardAP and @MasterCardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.
About Public Bank Berhad
Founded in 1966 by Tan Sri Dato’ Sri Teh Hong Piow and listed on the Main Board of Bursa Securities Malaysia in 1967, Public Bank is today the leading financial services provider serving over five million customers in Malaysia. Known for its prudent management and strong corporate governance, Public Bank continues to be accorded international and domestic awards and accolades.
The Group continues to commit to deliver excellent customer service and to be more innovative in providing superior financial products and services to meet increasingly sophisticated customer demand. For more information, visit www.pbebank.com.
For Immediate Release
13 January 2016
“PB Golden Fortune Brings You Happiness, Prosperity And Success” – Public Bank Offers 24K Gold-Plated Gifts
Two exquisite limited edition 24K gold-plated auspicious gifts consisting of a plus size gift namely “Fu Lu Shou” and a standard size gift namely “Blissful Prosperity Peony” are up for grabs. These gifts are exclusively designed where each gift represents a magnificent piece of gold craft that symbolizes great blessings and good fortune. The gifts are limited and only available while stock lasts.
There are two packages i.e. Golden Package and Fortune Package for customers’ selection. Customers can either deposit in PLUS Current/Savings Account (PLUS CASA) or combine investment (Unit Trust Funds or Gold Investment Account) with Current/Savings Account in order to get the exclusive gift(s). Golden Package offers one Blissful Prosperity Peony and Fortune Package offers one Fu Lu Shou.
This campaign is designed for customers who are looking for a diversified array of investment products in achieving their financial goals. Customers can choose from a vast selection of Unit Trust funds to cater to their various risk appetites in order to achieve their financial goals through proper financial planning. In addition, Gold Investment Account has remained a popular investment tool to safeguard wealth. For customers who simply want to save their monies, they can choose to deposit in PLUS CASA.
Just select the Golden Package or Fortune Package of your choice and be rewarded with the limited edition 24K gold-plated gift(s). Collect both designs or collect bundles of gifts by signing up for multiple packages!
To find out more about this Campaign, customers are invited to meet our Financial Executives at any of our branches, log on to PBB website at www.pbebank.com or call free phone at 1-800-22-9999 during normal working hours. Terms and conditions apply.
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