Educating Children on Financial Planning with the PB Journey Mobile Application

December 2021

20

Dec 2021

FOR IMMEDIATE RELEASE

20 December 2021

Public Bank and Public Islamic Bank Offer Repayment Relief For Customers Affected By Floods

Public Bank and Public Islamic Bank are offering repayment relief for their customers with loan and financing facilities who are affected by the recent floods in several states in Malaysia, including Kuala Lumpur, Selangor, Kelantan, Terengganu, Pahang, Negeri Sembilan and Melaka.

The repayment relief, includes:

i.	Deferment of monthly instalment for loan and financing of up to 6 months, on a request basis. The repayment relief is applicable to loan and financing facilities such as house financing, hire purchase and credit cards for individual customers, as well as SME loan and financing for affected businesses.
ii.	Waiver of charges on the replacement of banking related documents, such as bank cards, passbooks and cheque books that have been destroyed or lost in the floods.
iii.	Collaborating with Lonpac Insurance Bhd in facilitating and expediting all claims to be made by the affected customers.

Public Bank Managing Director and Chief Executive Officer, Tan Sri Tay Ah Lek said, “Public Bank has always been supporting its customers during challenging times. In this recent devastating flood, Public Bank will continue with its endeavour to provide full support to its customers to restore their livelihood as soon as possible. Affected customers who require the relief are advised to contact the Bank for more information.”

For the affected staff, apart from receiving the repayment relief, Public Bank is providing cash assistance and compassionate leave.

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

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November 2021

29

Nov 2021

FOR IMMEDIATE RELEASE

29 November 2021

Public Bank Group Reported Net Profit Of RM4.28 Billion For The Nine Months Ended September 2021

Tan Sri Dato’ Sri Dr. Teh Hong Piow, the Founder, Chairman Emeritus, Director and Adviser of Public Bank announced today that for the nine months ended September 2021, the Public Bank Group posted pre-tax profit of RM5.56 billion and net profit of RM4.28 billion, supported mainly by its core business of lending and deposit-taking.

However, the prevailing economic condition in 2021 has remained challenging amid the prolonged COVID-19 pandemic. The reimposition of tighter containment measures during the third quarter of 2021 continued to dampen economic growth. For the third quarter of 2021, the Public Bank Group’s net profit declined by 1.7% to RM1.36 billion compared to RM1.38 billion in the second quarter of 2021.

Tan Sri Teh commented, “During these trying times, the Group had undertaken multiple proactive initiatives in its business strategies and placed greater emphasis on risk management and productivity. These efforts enabled the Group to continue to demonstrate resilience in its performance by registering a net return-on-equity of 12.4% and an efficient cost-to-income ratio of 31.7% during the nine months ended September 2021.”

Continued Expansion in Loans and Deposits

As at the end of September 2021, the Public Bank Group’s total loans recorded an annualised growth of 3.0% to RM353.5 billion. Domestic loans grew at an annualised rate of 2.8% to RM330.5 billion. The stringent containment measures continued to weigh on consumer sentiments, leading to the slower growth in loans.

On deposit-taking, the Group’s total customer deposits grew at an annualised rate of 4.8% to RM378.9 billion, supported mainly by its low cost current and savings deposits which grew at an annualised rate of 12.2%. Domestically, total customer deposit grew at an annualised rate of 5.1% to RM350.5 billion.

Tan Sri Teh said, “The Group was able to achieve continued loans and deposit growth, albeit at a moderate pace. As at end-September 2021, the Group’s funding position remained stable with gross loan to fund and equity ratio of 79.7%.”

Sustained Growth in Non-interest Income

Amid the highly uncertain operating environment, non-interest income posted a decline of 2.9% in the first nine months of 2021, mainly arising from the reduction in investment income. However, the Group’s unit trust business, along with fee and commission as well as foreign exchange income continued to generate positive non-interest income growth.

Tan Sri Teh highlighted, “The Public Bank Group’s unit trust business, undertaken by its wholly-owned subsidiary, Public Mutual, registered a pre-tax profit growth of 25.5%, compared to the corresponding period in 2020. As at the end of September 2021, Public Mutual managed a total of 170 unit trust funds with assets under management totalling RM102.7 billion and continued to capture a large retail market share of 32.9%.”

Efficient Cost Management

Overhead expenses increased by 3.0%, compared to the corresponding period in 2020.

Tan Sri Teh said, “With the increasing challenges arising from the COVID-19 pandemic, the Public Bank Group has remained vigilant and continued to manage cost efficiently. The Group has constantly optimised its banking channels, intensified digitalisation initiatives and streamlined its banking operations to drive cost effectiveness as well as to improve customer experience. In the first nine months of 2021, cost-to-income ratio remained stable at 31.7%, as compared to the domestic banking industry’s cost-to-income ratio of 42.8%.”

Resilient Asset Quality

Tan Sri Teh added, “The Public Bank Group’s gross impaired loans ratio remained stable at 0.3% as at the end of September 2021. Despite the resilient asset quality, the Group stayed cautious and further bolstered its loan loss provisions pre-emptively amid the challenging economic condition.”

As at the end of September 2021, the Group’s loan loss coverage ratio stood high at 320.8%, compared to the banking industry’s loan loss coverage of 120.5%. Including the RM0.4 billion regulatory reserves that has been set aside, loan loss coverage ratio was higher at 358.5%.

Repayment Assistance of About RM81.9 Billion for More Than 435,000 Customers

The Public Bank Group has been actively providing relief assistance to borrowers who face repayment constraint since the occurrence of the COVID-19 pandemic last year. These relief assistance packages include loan moratorium, as well as the Targeted Repayment Assistance (TRA) and the Expanded Targeted Repayment Assistance (ETRA). The TRA and the ETRA are offered in various flexible packages to suit the need of different customers with varying financial condition.

The Group has also been proactively promoting special financing schemes initiated by the Government and Bank Negara Malaysia, such as the Special Relief Fund, Micro Enterprises Facility and Targeted Relief and Recovery Facility, to financially assist SMEs who need additional funds for their businesses amid the pandemic challenges.

Tan Sri Teh commented, “The Public Bank Group recognises the calamity brought by the COVID-19 pandemic and has been fully supporting the various initiatives by the Government and Bank Negara Malaysia to address the impact. The Group’s strong commitment to assist borrowers affected by the pandemic, is further reflected in its recent proactive participation in the provision of the six-month moratorium under the PEMULIH, as well as the AKPK Financial Management and Resilience Programme (URUS).”

As at the end of October 2021, about RM81.9 billion or 25% of the Group’s outstanding domestic loans are under the Repayment Assistance Programmes, benefiting over 435,000 customers.

Tan Sri Teh commented, “The Public Bank Group remains mindful of the prolonged difficulties faced by its customers. The Group will continue to proactively engage with its customers and provide financial relief assistance to those in need.”

Overall, the Group’s various financing schemes and repayment assistance have benefitted about 1.9 million of its customers to date.

Healthy Capital and Liquidity Position

As at the end of September 2021, the Group’s common equity Tier 1 capital ratio, Tier 1 capital ratio and total capital ratio stood at a healthy level of 14.1%, 14.1% and 17.2% respectively, while liquidity coverage ratio remained healthy at 145.6%.

Tan Sri Teh reiterated that, “The Public Bank Group continued with its proactive and prudent practices in capital management to ensure adequate buffers are maintained at all times to support its business growth and sustain financial stability, even during challenging times.”

Group’s Prospects

The Malaysian economy remains at a gradual recovery trajectory amid the easing of movement restrictions, beginning with resumption of interstate travel and reopening of more economic and social sectors as more than 95% of the adult population has achieved fully-vaccinated status. However, concerns on the lingering effects of COVID-19 and effectiveness of vaccines against new variants remain significant, which could continue to hinder the pace of economic recovery momentum.

Tan Sri Teh stated, “Despite the continued challenging environment, the Public Bank Group will remain steadfast in its efforts to strengthen its balance sheet, uphold its strong asset quality as well as enhance cost efficiencies further. While embracing the changes stemming from the pandemic, the Group will continue its pursuit of digital transformation and product innovation to strengthen long term business growth.”

Tan Sri Teh concluded, “With its resilient fundamentals, the Group remains well placed to navigate any challenges ahead and spur business growth as the country moves toward post-pandemic recovery.”

Y.Bhg. Tan Sri Dato' Sri Dr. Teh Hong Piow
Founder, Chairman Emeritus, Director and Adviser of Public Bank

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October 2021

29

Oct 2021

FOR IMMEDIATE RELEASE

29 October 2021

Comments On The Budget 2022

We are very encouraged to note that the Government has again prioritised the Rakyat’s well-being as a key focus pillar when formulating Budget 2022. As widely expected, Budget 2022 is expansionary, but nevertheless a necessary one and comes at a pivotal time as Malaysia charts its post-pandemic growth.

With a renewed path mapped out and the country’s investment prospects reinvigorated, underpinned by Budget 2022, the Public Bank Group will continue to play its role in actively facilitating growth, while also continuing to engage with customers and providing assistance when and where necessary to aid in the rehabilitation and rebuilding of our national resilience. To this end, the Government’s ongoing initiatives in providing support by way of subsidies, grants, and various other measures of assistance totalling RM31 billion is lauded.

We applaud Budget 2022 which appropriately balances the mix between reducing income inequality, expanding on targeted assistance to households and businesses while also investing into the nation’s healthcare and basic infrastructures. Amongst specific measures include allocating RM8.2 billion to a newly-introduced Bantuan Keluarga Malaysia program which will benefit 9.6 million recipients and RM4.8 billion set aside to create 600,000 employment opportunities.

Just as importantly, Budget 2022 also focuses on the future with spending allocated toward enhancing digital and technological infrastructures, while facilitating the transition of industrial sectors toward greater automation. It is important that no one is left behind in the eventual unfolding of this new age of development. To this end, the Government’s allocation of RM30 million to provide internet access to 40 low-cost housing schemes and RM700 million toward ensuring digital connectivity in 47 industrial areas and 630 schools in rural areas is very much welcomed.

The Public Bank Group affirms its commitment in partnering the government and various stakeholders toward advancing sustainability-based agendas. The world has made progress in arresting the negative effects from climate change, but more can and needs to be done. Apathy will be the greatest injustice to our future generations.

We are fully supportive of Budget 2022 and see it as an important platform to reignite the drive of the nation. Both the public and private sectors must work in partnership to spur economic recovery, while ensuring that the Rakyat’s welfares are preserved.

Y.Bhg. Tan Sri Dato' Sri Dr. Teh Hong Piow
Founder, Chairman Emeritus, Director and Adviser of Public Bank

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25

Oct 2021

FOR IMMEDIATE RELEASE

30 May 2022

SMEs Remain Resilient with Public Bank’s Financial Assistance During the COVID-19 Pandemic

Small and medium sized enterprises (SMEs) continue to adapt to the new normal posed by the COVID-19 pandemic. Grateful for the financial assistance offered by Public Bank throughout the pandemic up until today, many SMEs are now steadily building their business momentum to capitalise on the reopening of the economy, including the resumption of interstate travel.

Since the beginning of the pandemic in March 2020, Public Bank has been offering financial assistances to help its customers to tide through the pandemic.

Public Bank’s Managing Director and Chief Executive Officer Tan Sri Tay Ah Lek said the Bank has been weathering the storms with their customers through thick and thin throughout the years, including three global crises and is not stopping any time soon.
“We are in this together,” Tan Sri Tay said.

Although customers of the Bank are gradually getting back on their feet again financially, Tan Sri Tay stressed that Public Bank is always ready to "handhold them again at any time".

The improvement in the economy is greatly supported by the Government and Bank Negara Malaysia (BNM) with their ongoing proactive policy support and guidance.

Various financing schemes, such as the Special Relief Facility, Targeted Relief and Recovery Facility, Penjana SME Financing and others have all helped to put the whole economy on a better footing.

During the first lockdown in 2020, an event organiser who only wants to be known as Arif shared his worries, and was prepared for the worst.

“I am concerned of how to pay my bank instalments as I just only started a business with a loan and I have not made a profit yet,” Arif said.

All his staff was retained throughout the pandemic, as he expressed his gratitude to Public Bank which steadfastly stood by them by offering them a helping hand through the various financing assistance schemes, beginning with the first loan moratorium in 2020.

For motorcycle repair and sales business owner who only wants to be known as Sujendran, he is grateful that Public Bank’s assistance has not only took away his worries, but has also helped all his workers retain their job, ensuring that they are still able to put food on table. With the financial assistance, Sujendran can now afford to take a breather on his worry – which would have kept most SMEs up at night, not knowing what tomorrow would bring.

“I am less worried as I can sustain the business with all my workers working for the time being,” he said.

Arif and Sujendran are some of the 1.5 million customers who have received Public Bank’s first six-month loan moratorium between April and September 2020 offered to customers affected by the COVID-19 pandemic.

Another SME owner who only wants to be known as Foo shared her concerns of the pandemic, and has prepared herself for the worst. “This include loss of income, shutting down my business, among others,” she said.

The biscuit manufacturer with more than 70 workers managed to tide through the pandemic with the subsequent repayment assistances offered by Public Bank.

Over 429,000 customers with more than RM76 billion loans continue to receive these targeted repayment assistances as of end September 2021.

Arif shared his experience applying for the financial assistance and said the process was smooth and approval was granted in less than a day. Adding to the list of positive experiences, Sujendran said:

“Public Bank staff explained to me patiently and they were empathetic when I asked for help,” he said.

Arif, Sujendran and Foo are among the SMEs who have received assistance via the various Government and BNM schemes which Public Bank has approved an amount of RM3.4 billion, assisting more than 17,000 SMEs.

Ensuring SMEs’ continuous access to financing is vital and despite the tough operating environment, Public Bank has approved more than RM12.7 billion of financing to more than 50,000 SMEs since the beginning of the pandemic.

What some of these SMEs have in common when sharing their feedbacks was that they were confident that Public Bank would continue to work hand in hand with them throughout these trying times.

“I have been a customer of Public Bank for many years. When I told the Bank my business was greatly affected by the pandemic and I needed financing to stay afloat, the Bank immediately understood what my needs are. The financial assistance was then granted without much hassle,” Arif said.

SMEs are the backbone of the nation’s economy and Public Bank has been reaching out to them to ensure that they have all the necessary liquidity to stay afloat through this pandemic.

“Every single ringgit that goes to them, will go a long way, from buying raw materials from suppliers to making a profit which will eventually be contributed as taxes payable to the Government. In the process, their employees and those working in the whole supply chains get to put food on the table for their families.”

"Ongoing engagement will continue and various flexible repayment packages will remain open for applications. We are committed to continue assisting customers who are still financially impacted by the pandemic," Tan Sri Tay said.

Public Bank’s digital platform enables a straight-through online process on customers’ submission for the repayment assistance. SMEs can continue to contact the Bank via SME Helpdesk, email or telephone. For further information, they may also visit the Bank’s website at www.pbebank.com.

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18

Oct 2021

FOR IMMEDIATE RELEASE

18 October 2021

Enjoy Cuti-cuti Malaysia Promotions with Public Bank’s Debit and Credit Cards

Public Bank has lined up multiple exciting card promotions to support Malaysia’s local tourism industry in tandem with the opening of interstate travels.

“PB Credit and Debit Cards members can enjoy great deals on flights, accommodations, food and beverages and holiday activities in Malaysia in conjunction with the reopening of various economic activities,” said Public Bank’s Managing Director and Chief Executive Officer, Tan Sri Tay Ah Lek.

“Public Bank remains supportive of customers affected by the COVID-19 pandemic amidst the economic recovery. The Cuti-cuti Malaysia promotions will support local businesses after one and a half years of living with COVID-19,” Tan Sri Tay said.

As a leading bank in Malaysia with strong presence in all towns in Malaysia and having extensive base of merchant businesses, Public Bank is collaborating with BIGLIFE (operator of the BIG Rewards programme) for PB Cardmembers to enjoy up to 100% Bonus BIG Points for redemption of flights, accommodations and tour packages. On top of that, Cardmembers can also enjoy Agoda’s and Klook’s attractive discounts on hotel and activities bookings with no minimum spend.

Reputable hotels, such as The Danna Langkawi, Avani Sepang Goldcoast Resort, Eastern and Oriental Penang, Lexis Suites Penang, Fahrenheit Suites KL, The Chow Kit Hotel – an Ormond Hotel, Corus Hotel Kuala Lumpur, MoMo's Kuala Lumpur, Best Western i-City Shah Alam, Swiss-Garden Hotel & Residences Genting Highlands, Swiss-Garden Beach Resort Kuantan, Lexis Hibiscus Port Dickson, Grand Lexis Port Dickson, Lexis Port Dickson, Tune Hotel and many more are also open for Cardmembers’ list of places to go to for amazing experiences covering accommodations, spa, food and beverages with great savings and discounts await.

With many hidden gems, local delicacies, sumptuous food spread, idyllic beaches and spectacular natural wonders in Malaysia, Public Bank’s Cuti-cuti Malaysia promotions will quench the public’s thirst for a long awaited and much deserved holiday break.

The preparation towards transition from a pandemic to endemic operating environment with compliance with COVID-19 SOPs, as recently announced by the Ministry of Health will see the re-opening of many business sectors and will assist the upward momentum of the Malaysian economy. The travel bubble to Langkawi Island is one positive example of living in the new normal with SOPs.

To find out more on Public Bank’s Cuti-cuti Malaysia and other cards promotion, log on to Public Bank’s website at www.pbebank.com or call PB Customer Service at 03-2176 8000.

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12

Oct 2021

FOR IMMEDIATE RELEASE

12 October 2021

Public Bank Provides Digitalisation Assistance to Business Enterprise

Businesses can now enjoy a wide range of digital business solutions with Public Bank PB enterprise Digital SME Assist programme. This programme is part of the collaboration with several tech companies to offer a sustainable platform for business enterprise to grow by enhancing their digital capabilities in tandem with their business expansion.

Launched in mid-April this year, many SME and Corporate customers have benefited from this programme with increased business growth and accelerated digital transformation.

The COVID-19 pandemic and the resulting Movement Control Order (MCO) have further highlighted how crucial digitalisation is and the need to transition to a more digital-enabled environment for business survival. Public Bank recognises this and that businesses, particularly SMEs, require assistance to transform and digitalise their business operations in the most cost efficient manner in order to thrive in the new normal.

Public Bank has identified pertinent areas for businesses in the current climate and collaborate with the solution providers in the fields of accounting, human resource, e-commerce, workforce, property management, digital marketing, mobile and network to assist the SME customers.

These vital solutions are provided through the several tech companies which the Bank has teamed up with for the benefits of the business customers.

The tech companies include Biztory, a cloud accounting system; Kakitangan.com, an online human resources system; EasyStore, an all-in-one e-commerce solution that allow SMEs to sell via online stores such as Shopee, Lazada, Google Shopping and other sales channels easily via a centralised platform; TimeTec, a cloud and app based workforce and property management solutions provider; Exabytes, a digital marketing platform that manages websites for online businesses and Digi, one of the top telco provider in Malaysia offering business mobile plans and virtual business telephone solution to cater to all business needs.

Apart from benefitting the business customers, this collaboration with the tech companies will also promote these local champions with viable products to grow exponentially. This is also one of the ways that Public Bank is supporting Malaysia’s local start-up and entrepreneurial ecosystem.

Business can look forward to more partnerships, and continues improvement to the tools as the fluids business environment continues to evolve in the new normal.

For further details and enquiries, customers may visit any of Public Bank branches, log on to Public Bank’s website at https:///www.pbebank.com/ or email to cms@publicbank.com.my.

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5

Oct 2021

FOR IMMEDIATE RELEASE

5 October 2021

Public Bank Consistently Remains Fully Committed to Provide Financial Assistance to Customers Affected by the COVID-19 Pandemic Amidst Economic Recovery

Public Bank continue to provide full support for its customers affected by the COVID-19 pandemic, said Public Bank’s Managing Director and Chief Executive Officer, Tan Sri Dato’ Sri Tay Ah Lek.

“With the gradual reopening of the economy, Public Bank understands that there are still customers who continue to require assistance. We are committed to supporting all our customers during these challenging times,” he said.

Proactively ensuring the financial needs of its customers are attended to, Public Bank had been offering financial assistance which include moratoriums and targeted repayment assistance to suit their changing financial needs.

Public Bank has offered moratorium for about 1.5 million customers with over RM210 billion loans during the first six-month automatic loan moratorium between April and September 2020.

On top of that, Public Bank has offered various flexible targeted repayment assistances to assist its customers. As of end September 2021, over 429,000 customers with more than RM76 billion loans continue to receive these targeted repayment assistances.

A Multipronged Approach to Assist SMEs

Public Bank has also continuously supported the small and medium enterprises (SMEs), which play an important role from generating employment to contributing to the nation’s Gross Domestic Product (GDP).

Apart from repayment assistance, ensuring SMEs’ continuous access to financing is vital and despite the tough operating environment, Public Bank has approved more than RM12.7 billion of financing to more than 50,000 SMEs since the beginning of the pandemic.

On top that, Public Bank had also participated in various Government and Bank Negara Malaysia (BNM) schemes with an approved amount of RM3.4 billion which has assisted more than 17,000 SMEs.

Having access to finance by SMEs leads to creating employment, supporting livelihoods and contributing to the nation’s economy.

As one of the leading SME financier with about 22% market share, Public Bank remained dedicated to this mission which can be seen in its annualised growth of 4.6% with total financing of RM68.3 billion as at June 2021.

Another aspect that Public Bank looks at is assisting SMEs in capacity building.

“It is very important that SMEs understand the fundamentals of running a business, particularly during unprecedented times as this. We have organised roadshows to keep them abreast with the options that they have as the pandemic continue to present us with uncertainties,” he said.

Public Bank had also been organising roadshows prior to the pandemic to deliver quality advisory services and address the information asymmetry issues faced by the SMEs.

Drawing large crowds from the SME community nationwide, these roadshows help to elevate their awareness and knowledge on the availability of funds and financing schemes. The pandemic did not stop these roadshows, which are usually held in hotels.

Instead, it continues with virtual roadshow which showed a rise in SME attendees, with the next one scheduled on late October 2021 for customers in Sabah and Sarawak.

SMEs also continue to receive guidance from the Bank’s SME Helpdesk and SMEs may contact the Bank via email or telephone and for further information, they may visit the Bank’s website at https://www.pbebank.com.

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September 2021

21

Sep 2021

FOR IMMEDIATE RELEASE

21 September 2021

Public Bank Clinched A Record “Best Bank in Malaysia” Award for 15 Years

A 15-year consecutive recognition as the “Best Bank in Malaysia” by Alpha Southeast Asia at its 15th Annual Financial Institution (FI) Awards recently, speaks volume of Public Bank’s commitment to excellence.

To add more feathers to an already overflowing cap, Public Bank also won the “Best Retail Bank in Malaysia” award for the third year with the past two awards won in 2020 and in 2018 when they first introduced the award.

Alpha Southeast Asia, was established in January 2007 and is the first and only institutional investment magazine based in Hong Kong focused on Southeast Asia (Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam). Unlike most mainstream financial magazines, the winners of the annual FI awards are not necessarily the biggest banks by asset size but awarded on the basis of performance and growth over the past one year. The awards are also exclusively and categorically open to only locally incorporated banks and financial institutions or banks headquartered in Southeast Asia.

The Alpha Southeast Asia in a statement issued mentioned that over the last fourteen years since the collapse of Lehman Brothers, if there is one benchmark investors use to judge banks, it has to do with balance sheet strength. Public Bank easily epitomises how far a bank would go to stick to what it does best: plain vanilla bank lending and being there for its customers however intense the competition.

In keeping this award within the Bank for the 15^th consecutive year, Public Bank continues to entrench its heels deeper and strengthen its local market position year after year, making the bank the most reliable, secure and strongest bank in the country by a wide margin, thanks to strong growth in loans and core customer deposits as well as its stable asset quality.

In their report the international publication also said that despite intensifying competition from government-linked banks as well as other private sector banks in the country jostling for a position near the top, Public Bank has remained steadfast and focused when it comes to the country’s burgeoning retail segment. In recent years, the Public Bank Group has continued to register strong growth Its sold retail banking franchise is a testimony to the resilience and strength of the banks’ business, customer relationships, people and processes. In the case of Public Bank, it is very much business as usual, thanks in large part to its ability to meet the demand and evolving funding needs of its retail customers in Malaysia.

Public Bank’s Founder, Chairman Emeritus, Director and Adviser, Tan Sri Dato’ Sri Dr. Teh Hong Piow said, “It is an honour to be bestowed with these two awards by Alpha Southeast Asia. It is indeed a testimonial of our hard work and commitment to excellence.”

“All the triumphs and achievements over the last 55 years came with great efforts, resulting in Public Bank being recognized in the industry as the brand that is synonymous with excellence in line with our corporate tagline, “Excellence Is Our Commitment”. The Bank has gained a reputation for its integrity, trust and good governance which drives its business through knowledge, expertise, hard work and focus on customer service driven by a sustainable approach. Values such as integrity, trust and prudence are ingrained in our DNA and have been practised consistently throughout Public Bank,” said Tan Sri Teh.

Tan Sri Teh further added, “Moving forward, we will continue to entrench the excellent corporate conduct and uphold a high level of accountability and responsibilities to optimize our stakeholder values.”

Y.Bhg. Tan Sri Dato' Sri Dr. Teh Hong Piow
Founder, Chairman Emeritus, Director and Adviser of Public Bank

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20

Sep 2021

FOR IMMEDIATE RELEASE

20 September 2021

Public Bank Aced Again at e-Payments Award

Public Bank has emerged again as among the biggest winners for the Malaysian e-Payments Excellence Awards (MEEA) 2021 by securing three awards for its outstanding contribution towards the growth of Malaysia’s e-payment ecosystem.

Awarded the Best MyDebit Bank, Best MyDebit (Acquirer – Bank) and Best IBG Bank, Public Bank has been winning these awards throughout the years. The Best MyDebit Bank in Malaysia award, for instance, was awarded to Public Bank for the fifth consecutive year.

MEEA is organised annually by Payments Network Malaysia Sdn Bhd (PayNet), to recognise outstanding achievements of banks, businesses and government agencies that have contributed significantly towards excellence, innovation and growth of e-payments in Malaysia.

PayNet, which is the nation’s network and shared central infrastructure provider for Malaysia’s financial markets, in its congratulatory letter said: “Public Bank’s commitment and holistic efforts to drive usage, acceptance, reliability, customer engagement and experience have made a significant impact in propelling e-Payments in Malaysia to greater heights.”

Public Bank believes in the importance of fulfilling customers’ experience in the new normal caused by the unprecedented COVID-19 pandemic.

Amid the pandemic disruptions, Public Bank’s key digitalisation initiatives remained focus on enhancing convenience, efficiency, security and innovation of its products and services to deliver continued service excellence to its customers, particularly on the delivery of contactless and cashless digital payment service such as merchant online onboarding and online payment in order to curb the spread of COVID-19 and reduce the physical contact between buyers and traders.

Public Bank will continue to provide full support to boost the country’s migration to electronic payments by launching more e-Payment initiatives while continuously enhancing its digital banking platform, creating a unique and better user experience.

Apart from user experience, information security is another area that Public Bank focuses on to prevent cyber security threats. Ensuring a robust management of information security, Public Bank constantly reviews its policies and standards pertaining to information security and cyber threats management, ensuring a secure banking environment that is in line with the latest development, adequate and effective to mitigate possible future risks for customers’ peace of mind.

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6

Sep 2021

FOR IMMEDIATE RELEASE

6 September 2021

Easy Cross Border Payment with Thailand Using Public Bank’s PBe QR Service

Public Bank Group has extended its PBe QR service to support DuitNow QR Cross Border Payment between Malaysia and Thailand.

Public Bank is the first bank in Malaysia to enable the DuitNow QR Cross Border Payment which facilitates retail-based QR payment between the two countries. This will pave the way forward when the borders are reopen post pandemic. The Bank will continue to foster close collaboration with Payment Network Malaysia Sdn. Bhd. (PayNet), enabling transactions to more ASEAN countries in the near future.

“Our immediate focus is to push for greater financial inclusion by enabling Micro, Small and Medium Enterprises (MSMEs) with the more efficient and safe options to accept payments from foreign tourists when our borders are reopened. PBe QR, on top of the existing domestic DuitNow QR payment services will be a catalyst to this, providing simple, cost-effective and secure solution to enable MSMEs to accept cashless payments,” said Tan Sri Tay Ah Lek, the Managing Director of Public Bank.

Tan Sri Tay further added, “We are supportive of the nation’s push towards digitisation of various banking services and the creation of a financially inclusive society. With the increasing use of smartphones for banking, we are getting there and will continue to deliver the most efficient and convenient payment services for our customers.”

Businesses can enrol for the PBe QR service by self-registration from the Bank’s internet banking website or by approaching the nearest Public Bank branch for assistance. As a collective effort to push for e-payments, Public Bank is also waiving its acquiring transaction fees for DuitNow QR payments until 31 December 2022.

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August 2021

27

Aug 2021

FOR IMMEDIATE RELEASE

27 August 2021

Public Bank Group Achieved Net Profit Of RM2.91 Billion For The First Half Of 2021 And Declared 7.5 Sen First Interim Dividend

Highlights on Financial Performance

Tan Sri Dato’ Sri Dr. Teh Hong Piow, the Founder, Chairman Emeritus, Director and Adviser of Public Bank, announced today, “For the first half of 2021, the Public Bank Group posted pre-tax profit of RM3.79 billion and net profit attributable to shareholders of RM2.91 billion. The Group’s continued profitability was largely supported by its core business of lending and deposit-taking, and further driven by its non-interest income.”

Compared to the first quarter of 2021, net profit in the second quarter of 2021 declined by 9.5% to RM1.38 billion, mainly arising from higher preemptive provisions set aside for loan impairment.

Tan Sri Teh commented, “Last year, the Public Bank Group’s financial performance was significantly affected by the COVID-19 pandemic and its spillover effect on the economy. Given the low base effect from a year ago, coupled with the recovery of the Malaysian economy into 2021, the Group registered improved performance in the first half of 2021. However, the spike of COVID-19 cases and the imposition of more stringent containment measures in the second quarter of 2021 had continued to weigh on the Group’s business performance.”

Tan Sri Teh added, “Given the highly challenging environment, the Group had undertaken more proactive measures on recalibrating its business strategies and continued to place great emphasis on prudent risk management and enhancing productivity. These efforts enabled the Group to register a net return-on-equity of 12.9% and an efficient cost-to-income ratio of 31.6% during the first half of 2021.”

“In appreciation of shareholders’ continued support, the Board of Directors has declared a first interim dividend of 7.5 sen per share with a total dividend payout of RM1.46 billion, representing 50.0% of the Group’s net profit for the half year ended 30 June 2021.” Tan Sri Teh announced.

The dividend will be paid on 23 September 2021, based on the dividend entitlement date of 14 September 2021.

Continued Expansion in Loans and Deposits

As at the end of June 2021, the Public Bank Group’s total loans recorded an annualised growth of 3.7% to RM352.1 billion. Domestic loans grew at an annualised rate of 3.5%, underpinned by growth in the retail banking segment comprising residential property financing, passenger vehicle financing and SME financing.

Tan Sri Teh said “In the first half of 2021, the Group recorded a strong momentum in its loans approval, which reflects the Group’s strong commitment to continue enhancing access to financing for the customers. Additional impetus including incentives for car and property purchases as well as special financing schemes initiated by the Government and Bank Negara Malaysia, had also further spurred the Group’s loan growth.”

On the funding side, the Group’s total customer deposits grew at a healthy annualised rate of 5.1%, of which the low cost current and savings deposits grew at an annualised rate of 11.2%. As at the end of June 2021, the Group’s funding position remained stable with a healthy gross loan to fund and equity ratio of 79.9%.

Steady Growth in Non-interest Income

In the first half of 2021, the Public Bank Group’s non-interest income increased by 6.4%, mainly arising from the good growth achieved in its unit trust business, fee and commission income and stockbroking income. However, this was offset by a reduction in investment income.

Tan Sri Teh highlighted, “Amid the current extremely challenging operating environment, unit trust offers a good alternative investment. The Public Bank Group’s unit trust business, undertaken by its wholly-owned subsidiary, Public Mutual, continued to contribute positively to the Group’s overall profit. In the first half of 2021, Public Mutual registered a pre-tax profit growth of 32.2% compared to the corresponding period in 2020. As at the end of June 2021, Public Mutual managed a total of 168 unit trust funds with assets under management totalling RM103.2 billion and continued to capture a large retail market share of 33.3%.”

Efficient Cost Management

Tan Sri Teh said, “The Public Bank Group’s cost-to-income ratio remained stable at 31.6% in the first half of 2021, significantly better than the domestic banking industry’s cost-to-income ratio of 42.8%. The Group’s prudent and disciplined cost management continued to enable the Group to sustain cost efficiency, hence providing a stronger buffer to withstand economic challenges.”

Resilient Asset Quality

As at the end of June 2021, the Public Bank Group’s gross impaired loan ratio stood at 0.4%, well below the banking industry’s gross impaired loan ratio of 1.6%.

Tan Sri Teh added, “Despite its resilient asset quality, the Group continued to adopt a conservative stance in its preemptive provisioning to cushion against potential asset quality risks. As at the end of June 2021, the Group’s loan loss coverage ratio stood high at 275.1% compared to the banking industry’s loan loss coverage of 111.8%. Including the RM0.7 billion regulatory reserves that has been set aside, its total reserves for loan losses was even higher at 331.5%.”

Ongoing Strong Commitment to Provide Repayment Relief Assistance

Tan Sri Teh commented, “The Public Bank Group remains mindful of the impact of the prevailing strong headwinds on the loan repayment capability of its customers. The Group has continued to engage its customers and provide flexible financial relief assistance to those in need. As at to-date, 23% of the Group’s outstanding domestic loans were under the Targeted Repayment Assistance.”

Since the first wave of the COVID-19 pandemic in Malaysia in 2020, the Group has been constantly providing relief assistance to customers who faced cash flow constraint in repaying their loans. To facilitate greater convenience for customers, the Group has developed a digital platform to enable a straight-through online process on customers’ applications for the repayment assistance.

The Group also proactively promotes special financing schemes initiated by the Government and Bank Negara Malaysia, such as the Special Relief Fund, Micro Enterprises Facility and Targeted Relief and Recovery Facility, to financially assist SMEs who need additional funds for their businesses amid the pandemic challenges.

“Public Bank’s proactive efforts in extending its financial assistance, coupled with the Government and Bank Negara Malaysia’s significant initiatives to revive the economy, have helped many customers to gradually improve their financial situation. To date, the Group’s various financing schemes and repayment assistance have benefitted about 1.9 million of its customers,” Tan Sri Teh said.

“With the resurgence of the COVID-19 cases, the imposition of MCO 3.0 has posed more pressure on the borrowers’ financial conditions. The Group is very supportive of the Government’s latest measures in the National Recovery Plan, with continued active engagement with its customers to offer a six-month loan moratorium and various flexible repayment assistance packages, ” Tan Sri Teh further added.

Healthy Capital and Liquidity Position

As at the end of June 2021, the Public Bank Group’s common equity Tier 1 capital ratio, Tier 1 capital ratio and total capital ratio stood at a healthy level of 14.3%, 14.3% and 17.5% respectively.

Tan Sri Teh reiterated that, “The Group will continue with its proactive capital management to ensure a stable and healthy level of capital is maintained at all times to support its business growth, with adequate capital buffers to absorb any potential shocks from the highly uncertain economic environment.”

In terms of liquidity management, the Group’s liquidity coverage ratio remained at a healthy level of 137.0% as at the end of June 2021.

Group’s Prospects

The Malaysian economy is expected to continue on a gradual recovery path, underpinned by the Government’s comprehensive measures introduced under the National Recovery Plan and the acceleration of the national vaccination programme. However, there remains an unprecedented condition of uncertainty if the spread of the COVID-19 pandemic is not well contained.

Tan Sri Teh said, “Amid the still extremely challenging operating environment, the Public Bank Group will continue to proactively support the nation in navigating the COVID-19 pandemic, and assist to strengthen the path to stronger recovery through its role as a financial intermediary.”

“As strong headwinds persist, the Group will remain vigilant of the significant uncertainties on the road to recovery ahead. The Group will remain committed to disciplined cost control and prudent risk management in order to build ample buffers to absorb possible adverse shocks caused by the pandemic. With its strong PB brand, resilient asset quality and excellent customer service, the Group is well positioned to forge ahead with continued business growth and deliver its commitment of excellence to all its stakeholders,” Tan Sri Teh concluded.

Y.Bhg. Tan Sri Dato' Sri Dr. Teh Hong Piow
Founder, Chairman Emeritus, Director and Adviser of Public Bank

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23

Aug 2021

FOR IMMEDIATE RELEASE

23 August 2021

Public Bank Sponsors RM20,000 for UCSI 64th Merdeka Celebration National English Language Essay Competition 2021

After a successful run of the pilot programme in the 2019, UCSI University and Public Bank are bringing back the National English Language Essay Competition to pique the interest and love for the nation amongst the youth.

This competition is held in conjunction with the 64^th Merdeka Day celebrations with the aim to encourage Malaysian secondary school students to be interested in social and community issues, and to express their thoughts through the art of essay writing using the English language. The topic of this year’s competition is “Malaysia celebrates its 64th Independence Day this year 2021. To you, what does gaining independence mean and how does it impact the future generation of the nation?”.

UCSI University will be giving away RM20,000 worth of prizes and tuition fee waivers of up to RM100,000 to the winners of the competition.

As the Main Sponsor of this competition, Managing Director of Public Bank Tan Sri Dato’ Sri Tay Ah Lek believes that this initiative would promote the use of English language as it is an important tool to equip the younger generation with English proficiency as a business language used worldwide.

Tan Sri Tay also said that the Bank’s affirmative action in this continuous collaboration is laudable as it will definitely enhance the prestige and importance in promoting the use of English language amongst our youths, and enhance our competitiveness in the long run which will benefit our country.

Public Bank has been active in the Corporate Social Responsibility projects that are beneficial towards nation building in various area, especially in the education sector.

UCSI University’s Centre for Languages’ Director Daria Morozova, who is chairing the competition, said the competition was quintessentially the university’s way of inculcating the expression of love for the country among the younger generation.

"This essay writing competition is a step in the right direction for students to conspicuously articulate their ideas and ideals for how a nation should move forward,” she said.

This year’s competition is open to all students between the age of 16 and 20 and entries submission will be accepted until 31 August, 2021.

More information available at https://apps.ucsiuniversity.edu.my/essay/.

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2

Aug 2021

FOR IMMEDIATE RELEASE

2 August 2021

Educating Children on Financial Planning with the PB Journey Mobile Application

Public Bank launched a new mobile application, the PB Journey Mobile Application (PB Journey APP) to assist parents in inculcating savings habit and educating their children on financial planning.

The newly launch app, which complements the PB Journey Programmes, focuses on children and parents for a start as part of the Bank’s priority on educating the younger generation about managing wealth.

This Application will provide the opportunities for more interaction between parents and children during the various Movement Control Order (MCO) period.

The PB Journey APP for parents and children comprises of two modules, the Pocket Money module and Goal Setting module where these features aim to create interactive learning between parents and children on the value of money and also achieving their savings goal.

Both parents and children can create a task under the Pocket Money module whereby their children will be rewarded with Pocket Money as soon as they complete the task, whereas for the Goal Setting module, it allows children to save pocket money and earn interest.

Parents can help their children set their savings goal where they can save gradually during the goal tenure selected to achieve their targeted goal amount. The goal’s interest rate is calculated daily and credited monthly at attractive savings interest rates.

By going through these modules, parents have the opportunity to educate their children on how to manage their pocket money and to inculcate the savings habit at a young age.

In addition, educational videos are made available in the PB Journey APP to educate children on financial planning, awareness on the importance of savings and to inculcate savings habit.

To register for the PB Journey APP, customers are required to maintain a WISE Savings Account (WISE SA) for their children followed by signing-up for Mobile Banking (PB Engage) and lastly, downloading the PB Journey APP.

Apart from this, the PB Journey APP also serves to complement the PB Journey Programme which was launched earlier with the purpose of supporting the Bank’s customers who are adversely impacted by the COVID-19 pandemic.

The PB Journey Programme is designed to assist individual and non-individual customers throughout their journey with the Bank, be it students, fresh graduates, families, retirees as well as entrepreneurs and Small & Medium Enterprises businesses.

The pandemic has accelerated the digitalisation process for most businesses due to the various degrees of lockdown and control measures implemented by the government.

Consumers have quickly embraced this new norm of conducting their business using their mobile phone and the Bank will continue to enhance the PB Journey APP to provide financial access and features, and also seamless user experience to customers.

The PB Journey APP is available for download via Apple App Store, Google Play Store and HuaWei AppGallery. To find out more about PB Journey APP, customers are welcomed to visit any of our PBB branches, log on to PBB website at www.pbebank.com or call our toll free phone at 1-800-22-9999 during normal working hours. Terms and conditions apply.

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July 2021

8

Jul 2021

FOR IMMEDIATE RELEASE

8 July 2021

Public Bank’s Digital Platform Enables Convenient Opt-in for Moratorium

In line with the Pakej Perlindungan Rakyat dan Pemulihan Ekonomi (Pemulih) announced by the Prime Minister, Public Bank’s customers can now opt-in for a 6-month moratorium from 7 July 2021 onwards. Opt-in submissions will be based on customer’s self declaration and no document is required.

Public Bank is offering a 6-month moratorium to individual, regardless of their income level, as well as microenterprises and SME customers who face loan repayment difficulty during this pandemic. Apart from the 6-month moratorium, customers may also opt for a 50% reduction in their monthly instalment payment for six months.

In addition to the above, Public Bank is also providing other rescheduling and restructuring of loan and financing arrangement as requested by customers. Public Bank would like to highlight that it has a full suite of extremely flexible and comprehensive repayment packages to suit the specific financial conditions of customers.

Customers’ Central Credit Reference Information System records remained unaffected by any form of COVID-19 repayment assistance.

To facilitate convenient and efficient opt-in submission by customers, Public Bank’s digital platform enables a straight-through online process on customers’ submission for the repayment assistance. Customers may also continue to contact the Bank via email or telephone. The Bank has set up special repayment assistance helpdesk lines to provide more efficient assistance to customers. For further information, customers may visit the Bank’s website at https://www.pbebank.com.

Public Bank Managing Director and Chief Executive Officer, Tan Sri Dato’ Sri Tay Ah Lek said today, “With the resurgence of COVID-19 cases and the imposition of a more stringent Movement Control Order, Public Bank reassures customers its commitment and provision of financial assistance will continue nationwide. We hope our customers will continue to remain optimistic as Public Bank will continue to support them to navigate through the pandemic.”

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June 2021

14

Jun 2021

FOR IMMEDIATE RELEASE

14 June 2021

Public Bank Is Fully Committed To Provide Ongoing Targeted Repayment Assistance

Public Bank reaffirms its full commitment to offer ongoing Targeted Repayment Assistance to support all customers who face loan repayment difficulty due to the Movement Control Order (MCO) and the effect of the COVID-19 pandemic.

Public Bank’s COVID-19 Targeted Repayment Assistance Programme which was first launched in August 2020 comprises a full suite of extremely flexible and comprehensive repayment packages. These flexible repayment packages are made available for all segments of individual customers as well as microenterprises and SMEs, with various assistance in the form of deferment or reduction of monthly instalment payment.

To facilitate greater convenience for customers, Public Bank had also developed a digital platform to enable a full straight-through online process on customers’ applications for the repayment assistance.

Public Bank Managing Director and Chief Executive Officer, Tan Sri Dato’ Sri Tay Ah Lek said today, “The Public Bank’s Targeted Repayment Assistance Programme has been progressing very well. To date, this programme has assisted over 160,000 customers, with relief assistance amounting about RM40 billion and approval rate of close to 100% of total customers’ submissions. Public Bank’s proactive efforts in extending its financial help, coupled with the Government and Bank Negara Malaysia’s significant initiatives to revive the economy, have helped many customers to gradually regain their financial strength. Currently, more than 90% of Public Bank’s customers are paying their monthly loan instalment.”

Tan Sri Tay added, “However, Public Bank understands that the constantly high number of COVID-19 cases and the recent MCO may have posed renewed challenges to people’s livelihood. Many small businesses are also encountering a difficult period of financial constraint. While the Bank is mindful that the MCO is necessary to protect the safety and health of the people, the Bank will continue to play its part and remain fully committed to provide immediate assistance for customers who need financial help. The Bank assures its customers that it will continue to make available its flexible repayment assistance packages for customers to opt for the repayment option that best suit their financial condition.”

For the B40 segment, individual customers who have lost their jobs as well as SMEs / microenterprises that are not allowed to operate during the MCO, Public Bank is offering a loan deferment for three months, or a 50% reduction in the monthly instalment payment for six months.

Further, for individual customers who encounter a reduction in income, be it B40, M40 or T20, as well as SMEs and microenterprises, Public Bank will continue to provide different options of repayment packages allowing customers to make lower monthly repayment that commensurate with their income reduction.

To cater to the needs of the Bank’s varying customer base with different financial conditions, Public Bank has customised its repayment packages with accommodative monthly instalment reduction. Affected customers who face significant financial difficulties are offered a reduction of up to 75% of their existing monthly instalment under these flexible packages. Customers may also propose any other reschedule or restructure arrangement that suit their financial needs.

Public Bank’s customers who wish to opt for financial assistance will only need to reach out to the Bank and indicate their option of restructured repayment. All opt-in submissions will be based on customer’s self declaration and no document is required. Customers may contact the Bank via email or telephone, or through the digital opt-in platform available on the Bank’s website. For further information, customers may visit the Bank’s website at https://www.pbebank.com.

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May 2021

11

May 2021

FOR IMMEDIATE RELEASE

11 May 2021

Public Bank Group Achieved 15.1% Net Profit Growth In The First Quarter Of 2021

Highlights on Financial Performance

Tan Sri Dato’ Sri Dr. Teh Hong Piow, the Founder, Chairman Emeritus, Director and Adviser of Public Bank is pleased to announce today, “The Public Bank Group started the year of 2021 with positive momentum. In the first quarter of 2021, the Public Bank Group achieved 15.7% growth in its pre-tax profit to RM2.00 billion compared to RM1.73 billion in the corresponding period in 2020. Net profit attributable to shareholders grew by 15.1% over the same period to RM1.53 billion.”

Tan Sri Teh commented that, “For the first quarter of 2021, the operating environment remained challenging as the Movement Control Order 2.0 was imposed to address the resurgence of COVID-19 cases. Despite these challenges, the Malaysian economy gradually gained momentum, on the back of improved sentiment arising from the global deployment of COVID-19 vaccines, together with various ongoing policy support. Under the improved economic environment, the Public Bank Group achieved better profit performance, driven by the continued expansion in loans and deposits businesses, and further boosted by fee-based revenue growth.”

During the first quarter of 2021, the Public Bank Group continued to achieve an efficient cost-to-income ratio of 31.8% and a high net return-on-equity of 13.5%.

Continued Expansion in Loans and Deposits

“The Public Bank Group continued to gain traction in its lending and deposit-taking businesses, despite the ongoing economic challenges,” said Tan Sri Teh.

As at the end of March 2021, the Public Bank Group’s total loans recorded an annualised growth of 4.8%. This was mainly supported by residential property financing, passenger vehicle financing and SME financing.

Tan Sri Teh further added, “With the low interest rate environment and economic stimulus measures, the Group recorded improvements in its housing loans approvals, with an increase of 26.5% in the first quarter of 2021 compared to the same period last year. Besides that, the Group’s proactive promotion and participation in various special financing schemes initiated by the Government and Bank Negara Malaysia to assist SMEs in overcoming their financial difficulties, had further contributed to the Group’s loan growth.”

On deposit-taking, the Group’s total customer deposits achieved an annualised growth of 2.9% and domestic customer deposits registered an annualised growth of 3.0%. The lower-cost current and savings deposits continued to grow at a strong pace during the quarter with an annualised growth of 18.4%.

Strong Growth in Non-interest Income

Non-interest income increased by 16.6% in the first quarter of 2021 compared to the corresponding period in 2020, mainly supported by the stronger growth achieved in the Group’s unit trust business, fee and commission income as well as stockbroking income.

Tan Sri Teh added, “For the first quarter of 2021, the Public Bank Group’s unit trust business which is being managed by its wholly-owned subsidiary, Public Mutual, remained the main contributor to its non-interest income. Public Mutual recorded a commendable performance in the first quarter of 2021, with its pre-tax profit growing by 33.6% quarter-on-quarter to RM216.6 million. As at the end of March 2021, Public Mutual continued to capture a large retail market share of 32.2% and managed a total of 166 unit trust funds with assets under management totalling RM101.3 billion.”

Prudent Cost Management

Tan Sri Teh highlighted, “The Public Bank Group remained as the most cost-efficient bank in Malaysia, with cost-to-income ratio of 31.8%, significantly better than the domestic banking industry’s cost-to-income ratio of 42.8%. In light of the ongoing challenging operating condition, the Group will continue to manage cost prudently in order to sustain profitability.”

Stable Asset Quality

As at the end of March 2021, the Public Bank Group’s gross impaired loan ratio stood at 0.4%, well below the banking industry’s gross impaired loan ratio of 1.6%.

Further, the Public Bank Group’s loan loss coverage ratio was maintained at a prudent level of 247.0% compared to the banking industry’s loan loss coverage of 111.8%. Including the RM1.1 billion regulatory reserves that has been set aside, its total reserves for loan losses was higher at 337.7%.

Tan Sri Teh commented, “The COVID-19 pandemic had posed a downside risk to the banking industry’s asset quality. However, on the back of various relief and stimulus measures initiated by the Government and Bank Negara Malaysia, coupled with the Group’s resilient credit profile, the Group is in a better position to navigate any asset quality risks.”

Provision of Repayment Relief Assistance

Since March 2020, in support of the Government and Bank Negara Malaysia’s initiatives, the Group has been constantly providing relief assistance to customers who faced financial difficulties amid this unprecedented crisis.

During the first wave of the COVID-19 pandemic in 2020, the Public Bank Group provided a six-month automatic loan moratorium to relieve customers’ repayment difficulty. As the six-month moratorium expired in September 2020, the Group had rolled out various flexible loan repayment assistance packages under the Targeted Repayment Assistance and Expanded Targeted Repayment Assistance programme to assist customers with various financial difficulties. Customers from different income segments, such as the B40 and M40 as well as SMEs and microenterprises have been offered assistance by the Group to help them navigate their current financial challenges.

For SME customers who seek additional funds for their businesses in this difficult time, the Public Bank Group has been proactively promoting various financing schemes initiated by the Government and Bank Negara Malaysia, such as the Special Relief Fund, Micro Enterprises Facility and Targeted Relief and Recovery Facility. These funds are offered at competitive interest rates and flexible tenure, which aim to help these SMEs go through this challenging period.

The Public Bank Group remains mindful of the prevailing headwinds on the repayment capability of its customers and continues to engage its customers to provide further financial assistance to those in need. As at the end of March 2021, the Group’s various financing and repayment assistance had benefitted about 1.8 million customers.

Healthy Capital and Liquidity Position

As at the end of March 2021, the Public Bank Group’s common equity Tier 1 capital ratio, Tier 1 capital ratio and total capital ratio stood at 13.8%, 13.8% and 16.9% respectively.

Tan Sri Teh commented, “Ensuring a stable and healthy capital position remains a key priority to the Public Bank Group. Its capital strength will continue to safeguard the Group from any financial stress caused by the COVID-19 pandemic. The Group continues to manage its capital proactively and ensure adequate capital buffers in pursuit of its organic business growth as well as strategies to cope with the new business normal.”

Tan Sri Teh further added, “As for liquidity management, the Public Bank Group ensures sufficient liquidity buffer is maintained at all times. The Group’s liquidity coverage ratio continued to stand at a healthy level of 128.3% as at the end of March 2021.”

Group’s Prospect

The Malaysian economy is poised to continue on a recovery trajectory, underpinned by continued policy measures and additional stimulus packages as well as the wider rollout of the COVID-19 vaccinations. The less stringent COVID-19 containment measures have reignited domestic economic activities, hence helping to boost business and consumer sentiments. Furthermore, monetary policy remains accommodative in support of a sustainable economic recovery.

Tan Sri Teh commented, “With improved operating environment, the banking industry is expected to achieve better performance in 2021. Nevertheless, the Public Bank Group is mindful of ongoing downside risks that could pose further disruptions to the banking business. Thus, strategic business direction, prudent risk management practices and cost efficiency measures will remain on the Group’s business agenda so that the Group can continue to withstand uncertainties and respond appropriately to any changes.”

“While the Public Bank Group remains cautiously optimistic about the economic outlook, it will continue to strive hard for business growth in its core business segments in order to continue generating value for its stakeholders,” Tan Sri Teh concluded.

Y.Bhg. Tan Sri Dato' Sri Dr. Teh Hong Piow
Founder, Chairman Emeritus, Director and Adviser of Public Bank

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April 2021

1

Apr 2021

FOR IMMEDIATE RELEASE

1 April 2021

A 50% Cash Back Awaits Public Islamic Bank Credit Cards-i Cardmembers

Public Islamic Bank is offering New-to-Bank Cardmembers of the Visa and Mastercard Platinum/Gold Credit Cards-i 50% Cash Back for their first online and grocery transactions using these cards.

As part of the Bank’s effort to offer more value to Cardmembers with the latest benefits and features, these newly launched cards are Shariah-compliant under Ujrah concept that complement the lifestyle of today’s Malaysian discerning consumers.

En. Syamsul Azuan, CEO of Public Islamic Bank Berhad said, “The Public Islamic Bank Credit Cards-i is part of our initiative to provide a wider range of Shariah-compliant banking products and services to meet the ever changing needs of our customers, both Muslim and non-Muslim.”

Adapting the minimalism concept, the cards have very distinctive “wau” design and other than the interesting design, it also offers cash back features.

For Public Islamic Bank Visa Credit Cards-i, it offers up to 4% Cash Back on online and overseas transactions while Public Islamic Banks Mastercard Credit Cards-i gives up to 4% Cash Back on groceries and departmental stores transactions.

Another value-added benefit is the 0% management fee for Flexipay and Balance Transfer for the Cardmembers. Cardmembers will also be donating to a good cause while spending as 0.1% of the total dining transactions amount will be donated to Yayasan Waqaf by the Bank.

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 www.pbebank.com or Public Islamic Bank’s website at www.publicislamicbank.com.my or call PB Customer Service at 03-2176 8000. Terms and conditions apply.

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February 2021

25

Feb 2021

FOR IMMEDIATE RELEASE

25 February 2021

Public Bank Group Posted Net Profit Of RM4.87 Billion For 2020 And Declared A Total Dividend Payout Of RM2.52 Billion

Highlights on Financial Performance

For the financial year 2020, the Public Bank Group posted pre-tax profit and net profit attributable to shareholders of RM6.29 billion and RM4.87 billion respectively, both lower by 11.9% and 11.6% as compared to 2019. The lower profit in 2020 was mainly attributable to the net interest margin compression arising from the 125 basis points Overnight Policy Rate (“OPR”) reductions during the year, and the one-off net modification loss of RM498 million incurred due to the COVID-19 relief measures offered to individuals and businesses.

Tan Sri Dato’ Sri Dr. Teh Hong Piow, the Founder, Chairman Emeritus, Director and Adviser of Public Bank, said, “2020 was a year full of unprecedented challenges. The onset of COVID-19 pandemic inflicted significant economic disruptions and uncertainties. Coupled with several OPR reductions during the year, it had placed further pressure on the banking sector. Against this backdrop, the Public Bank Group was still able to show steady performance and sustain its profitability.”

Operating profit before loan loss allowances recorded a growth of 1.6% to RM7.40 billion, as compared to RM7.28 billion a year ago. This was mainly attributed to steady loan and deposit growth as well as a commendable growth in fee-based revenue. The overall net profit was however adversely affected by the higher provisions set aside in anticipation of the COVID-19 pandemic effect, on top of the one-off net modification loss incurred in respect of the COVID-19 related relief measures.

Tan Sri Teh added, “Once again, the Public Bank Group’s business model demonstrated strength and resilience during this challenging time. This was supported by disciplined execution of the strategic priorities, along with prudent risk management practices. The Group continued to maintain its resilient fundamentals in 2020, delivering net return on equity of 11.2% whilst sustaining its low gross impaired loan ratio of 0.4% as well as efficient cost-to-income ratio of 34.6%.”

In view of the sustained profit performance, Tan Sri Teh announced, “The Board of Directors is pleased to declare a dividend of 13 sen per share, which amounted to a total dividend payout of RM2.52 billion, representing 51.8% payout of the Group’s net profit for 2020. Despite facing various challenges in 2020, the Group’s continued dividend payout during this difficult time reflects its appreciation of shareholders’ support.”

The dividend will be paid on 22 March 2021, based on the dividend entitlement date of 12 March 2021.

Steady Growth in Loans and Deposits

“During this challenging time, the Public Bank Group continued its growth traction in its lending and deposit-taking businesses,” said Tan Sri Teh.

For 2020, the Group recorded 4.6% growth in total loans, supported by residential property financing, passenger vehicle financing and SME financing. Domestically, total loans grew by 5.4%, higher than the banking industry’s loan growth of 3.4%.

On deposit-taking, the Group’s total customer deposits achieved a 3.5% growth, while domestic deposits registered a growth of 3.8%. In particular, the Group’s low cost demand and savings deposits recorded a strong growth of 18.9% during the year.

Commendable Growth in Non-interest Income

Non-interest income recorded a commendable growth in 2020, increasing by 17.5% as compared to 2019, mainly due to stronger growth achieved in the Group’s unit trust business, investment income as well as stockbroking income.

Tan Sri Teh added, “The Public Bank Group’s unit trust business, undertaken by its wholly-owned subsidiary, Public Mutual, remained the main contributor to the Group’s total non-interest income. For the year 2020, Public Mutual registered a 10.5% increase in pre-tax profit to RM714.8 million. It continued to capture a retail market share of 33.4% and managed a total of 164 unit trust funds. Total net asset value of its funds under management increased by 15.8% during the year, surpassing the RM100 billion mark for the first time, to RM100.3 billion as at the end of 2020.”

Prudent Cost Management

Tan Sri Teh highlighted, “Amid the current economic environment and challenging revenue growth, the Group continues to maintain cost discipline and high productivity to help sustain its earnings. The Group continues to stand out amongst its peers in terms of cost efficiency. In 2020, the Group’s cost-to-income ratio remained at an efficient level of 34.6%, significantly better than the domestic banking industry’s cost-to-income ratio of 42.8%.”

Sustaining Resilient Asset Quality

As at the end of 2020, the Public Bank Group’s gross impaired loan ratio stood at 0.4% and remained well below the banking industry’s gross impaired loan ratio of 1.6%.

With the pre-emptive provisions set aside in anticipation of the COVID-19 effect, the Group’s loan loss coverage ratio increased further to 227.7% as compared to the banking industry’s loan loss coverage of 107.5%. Including the RM1.2 billion regulatory reserves that has been set aside, its total reserves for loan losses was higher at 325.1%.

Tan Sri Teh commented, “The COVID-19 pandemic continues to pose a downside risk on asset quality. However, with the various government relief and stimulus measures, the impact will be less severe. These relief measures, including the targeted repayment assistance programme, coupled with the Group’s solid foundation, alongside its prudent lending policy and strong credit risk profile, will enable the Group to weather the asset quality challenges.”

Managing Impact of COVID-19

In the fourth quarter of 2020, the Public Bank Group continued to extend its financial assistance to its customers. In addition to the targeted repayment assistance for customers who have encountered loss or reduction in income due to the COVID-19 pandemic, an expanded targeted repayment assistance for individuals and microenterprises has been implemented with effect from December 2020.

Tan Sri Teh said, “The targeted repayment assistance programme consists of various flexible repayment packages that suit varying customers’ financial needs, including individuals, SMEs and corporate customers.”

Tan Sri Teh added, “Further, the Group has continued to leverage on the various special financing schemes initiated by the Government and Bank Negara Malaysia to assist SMEs to overcome their financial difficulties. As at the end of 2020, the Group approved more than RM3 billion for over 15,000 businesses under such financial assistance programmes.”

Tan Sri Teh further added, “The Group’s loan moratorium, and various loan repayment assistance programmes, along with the various special financing schemes in which the Group participates actively, have benefitted about 1.8 million customers during these trying times”.

Healthy Capital and Liquidity Position

Ensuring healthy capital and liquidity position remain one of the key priorities of the Public Bank Group, particularly under the current challenging time. As at the end of 2020, the Public Bank Group’s common equity Tier 1 capital ratio, Tier 1 capital ratio and total capital ratio stood at 14.0%, 14.0% and 17.1% respectively.

Tan Sri Teh commented, “The Public Bank Group’s resilient capital position is a testament to its vigilant approach in capital management to ensure adequate capital buffers in pursuit of business growth and delivery of an optimum return to its shareholders, while meeting regulatory requirements.”

Tan Sri Teh further added, “As for liquidity management, the Public Bank Group has been focusing on its well-diversified funding and liquidity profile to maintain a healthy liquidity position. The Group’s liquidity coverage ratio continued to stand at a healthy level of 138.0% as at the end of 2020.”

Group’s Prospect

After falling into a contraction in 2020 due to economic disruption caused by the COVID-19 outbreak, the Malaysian economy is expected to rebound gradually in 2021. Fiscal measures by the Government and Bank Negara Malaysia’s accommodative monetary policy will continue to drive the country’s economic recovery. The roll-out of the COVID-19 vaccine is also likely to provide support in reviving the economy. The outlook, however, remains uncertain hinging on the development and containment of the pandemic.

Tan Sri Teh concluded, “Amid the prevailing economic conditions, the Public Bank Group will remain vigilant and agile in balancing growth with risks. As the Group focuses on organic growth strategy in retail and commercial banking, it will continue to strengthen its resilient business model and core competencies, including its superior asset quality, efficient cost management and customer service excellence. Holding on to its tradition of prudent risk management and strong corporate governance, the Group remains steadfast in its unwavering commitment to safeguarding the interest of all its stakeholders.”

Y.Bhg. Tan Sri Dato' Sri Dr. Teh Hong Piow
Founder, Chairman Emeritus, Director and Adviser of Public Bank

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January 2021

27

Jan 2021

FOR IMMEDIATE RELEASE

27 January 2021

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

Public Islamic Bank Berhad (PIBB) has entered into a Memorandum of Agreement (MOA) with KPower Berhad (KPower) for installation and financing of solar photovoltaic (PV) systems.

With the recently announced Net Energy Metering 3.0 (NEM 3.0) by the Energy and Natural Resources Ministry, PIBB, via its financing scheme launched on 11 November 2020 will cater for the rising customer demands for solar panel financing.

NEM 3.0 was announced on 29 December 2020 and a total of 500 MW quota shall be allocated for the period starting 2021 until 2023, whichever comes first.

KPower, via its wholly-owned subsidiary, KPower Engineering Sdn Bhd, will perform the installation works and provide all related technical matters with regards to the solar photovoltaic systems to PIBB customers.

The NEM scheme, which falls under the purview of Sustainable Energy Development Authority (SEDA), provides the avenue for electricity users to install solar PV systems on the roofs of their respective buildings for electricity cost savings. The scheme also encourages the public at large to play an active role in mitigating climate change where clean energy can be generated for private consumptions.

This financing package is also part of PIBB’s effort to contribute positively to the society’s well-being via the Value Based Intermediation (VBI), with the intention to realise the objectives of Shariah principles to generate positive and sustainable impact to the economy, community and environment.

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

For further details, customers may visit any of PBB/PIBB branches, log on to PIBB’s website at www.publicislamicbank.com.my or call the toll-free number at 1-800-22-7777 during normal working hours. Terms and conditions apply.

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26

Jan 2021

FOR IMMEDIATE RELEASE

26 January 2021

Public Bank Offers Exquisite Limited Edition Gifts and e-Ang Pow Cash Back with the PB Golden Fortune Campaign and e-Ang Pow DuitNow Campaign

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

PB Golden Fortune, brings you Prosperity with Exquisite Gift

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

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

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

Customer can also invest in Single Premium Investment-Linked Insurance Plan that provides insurance coverage upon death or Total and Permanent Disability (TPD) and investment returns. We are aware that the Covid-19 pandemic has heightened customers’ awareness for the need for insurance protection and thus we want to offer customers additional benefit during these challenging times.

Customer can select the PB Golden Plan or PB Fortune Plan to be rewarded with the limited edition auspicious gift or collect both designs by signing up for multiple plans.

e-Ang Pow DuitNow Campaign

In view of the new norm caused by the pandemic and the need for physical distancing, the general public are encouraged to use electronic red packets or e-Ang Pow for the coming Lunar New Year.

Public Bank will be launching the e-Ang Pow DuitNow Campaign. Customer can send an e-Ang Pow using DuitNow to their family and friends using PB engage mobile app from as low as RM10.

Once customers' DuitNow transaction is successful on PB engage, they can then shake the Prosperity Tree for a chance to win an Ang Pow containing a cashback prize. The more e-Ang Pows sent, the higher the chance for customers to win more cashback. Customer can use the DuitNow to send e-Ang Pow to any bank account nationwide.

To find out more about Public Bank campaigns, customers are welcomed to visit any of our PBB branches, log on to PBB website at www.pbebank.com or call our toll free phone at 1-800-22-9999 during normal working hours. Terms and conditions apply.

Information about the Golden Fortune 2021 campaign

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

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

Information about the e-Ang Pow Campaign

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11

Jan 2021

FOR IMMEDIATE RELEASE

11 January 2021

Public Bank Offers Loan Repayment Relief For Customers Affected By Floods

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

The repayment relief, effective on 11 January 2021 includes:

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

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

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

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Media Release