Media Release

FOR IMMEDIATE RELEASE

22 May 2025

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

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

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

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

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

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

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

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

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

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

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

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

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FOR IMMEDIATE RELEASE

21 May 2025

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

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

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

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

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

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

Loans and Deposits Businesses

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

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

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

Asset Quality

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

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

Non-interest Income

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

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

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

Capital Position

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

Group’s Prospects

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

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

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

Tan Sri Dato’ Sri Dr. Tay Ah Lek

Managing Director and Chief Executive Officer

Public Bank

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8 May 2025

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

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

Performance Review for 2024

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

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

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

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

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

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

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

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

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

Strategies and Directions for 2025

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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FOR IMMEDIATE RELEASE

18 April 2025

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

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

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

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

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

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

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

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

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

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

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25 March 2025

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

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

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

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

i.    Deferment of monthly instalment for loan and financing of up to 6 months. The repayment relief is applicable to loan and financing facilities such as house financing, hire purchase and credit cards for individual customers, as well as SME loan and financing for affected businesses. 

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

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

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

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

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

Contacts

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

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

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24 March 2025

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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5 March 2025

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

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

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

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

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

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

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

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

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

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

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

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5 March 2025

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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FOR IMMEDIATE RELEASE

26 February 2025

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

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

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

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

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

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

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

Loans and Deposits Businesses

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

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

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

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

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

Asset Quality

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

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

Non-interest Income

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

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

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

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

Overseas Operations

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

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

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

Capital and Liquidity Position

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

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

Sustainability Progress

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

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

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

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

Group’s Prospects

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

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

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

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

Tan Sri Dato’ Sri Dr. Tay Ah Lek

Managing Director and Chief Executive Officer

Public Bank

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FOR IMMEDIATE RELEASE

31 January 2025

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

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

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

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

i.                 Deferment of monthly instalment for loan and financing of up to 6 months. The repayment relief is applicable to loan and financing facilities such as house financing, hire purchase and credit cards for individual customers, as well as SME loan and financing for affected businesses.

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

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

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

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

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

Contacts

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

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

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FOR IMMEDIATE RELEASE

23 January 2025

Further Convenience for Public Bank Cardmembers with Garmin Pay

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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FOR IMMEDIATE RELEASE

8 January 2025

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

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

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

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

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

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

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

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

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

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

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