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Finance

Public Bank Bhd.

  • 23.00 MYR
  • +0.02
  • +0.09%
  • Malaysia
    Jul 15, 2019
  • Ticker
    KLS(1295)
  • Prev. close
    22.98
  • Market cap (MYR)
    89,211.53M
  • Market cap (USD)
    21,713.89M
  • Shares
    3,882.13M

Company Background

Founded in 1966 by Chairman Teh Hong Piow, Public Bank is one of two banks in Malaysia owned by ethnic Chinese that has managed to avoid being absorbed by bigger players.

Public Bank's strength is in retail banking. It is a leader in property and vehicle lending, as well as in the management of unit trust funds, which has helped the bank remain profitable for nearly a half century. The bank is led by the chairman's right-hand man, CEO Tay Ah Lek, who has been with the bank since its inception. Tay is in his 70s and Teh is in his 80s. There are reports deputy CEO Quah Poh Keat will become the next CEO.

Although the bank has more than 100 overseas branches -- in Hong Kong, Cambodia, Vietnam and Laos -- most of its operating revenue comes from domestic operations. Teh holds a controlling 24% stake in Public Bank and is also a major shareholder in LPI Capital, a listed general insurance company unrelated to the bank.

Business Summary

Public Bank Bhd. engages in the provision of commercial banking services. It operates through the following segments: Hire Purchase; Retail Operations; Corporate Lending; Treasury and Capital Market Operations; Investment Banking; Fund Management; Others; Hong Kong SAR; Cambodia; and Other Countries. The Hire Purchase segment focuses on the provision of passenger vehicle financing to all levels of customers. The Retail Operations segment provides products and services to individual customers and small and medium enterprises. The Corporate Lending segment funds large corporate customers which are primarily public listed companies and its related corporations. The Treasury and Capital Market Operations segment refers to the proprietary trading in treasury related products and services such as foreign exchange, money market operations, and securities trading. The Investment Banking segment caters to the business needs of large corporate customers through the provision of financial solutions and direct lending. The Fund Management segment consist of sale of trust units and the management of unit trust funds as conducted by the wholly-owned subsidiary company of the bank. The Other segment refers to the non-core operations such as property holding. The Hong Kong SAR segment includes all business operations conducted by the Bank's subsidiary companies in Hong Kong SAR and the People's Republic of China. The Cambodia segment comprises all business operations conducted by the bank's subsidiary companies in Cambodia, which includes mainly financing, deposit-taking, general insurance businesses and stock-broking. The Other Countries segment relates to the banking business operations in the Socialist Republic of Vietnam, Lao People's Democratic Republic and Sri Lanka. The company was founded by Hong Piow Teh in 1965 and is headquartered in Kuala Lumpur, Malaysia.

Financial Highlights

Dec 2018 MYRUSD
Revenue20,341.03M5,040.67M
Gross Profit----
Operating income7,049.51M1,746.92M
Income before tax7,095.91M1,758.42M
Net income5,590.61M1,385.39M
EBITDA----
Diluted EPS1.440.35
Dividends Per Share0.690.17
Total Assets419,693.28M101,559.16M
Total liabilities377,596.81M91,372.48M
Total equity40,973.05M9,914.83M
Operating cash flow5,678.95M1,407.29M
Currency in MYRCurrency in USD

Historical Data

 Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018
Revenue 16,016.88M 17,974.03M 18,759.46M 19,424.70M 20,341.03M
Gross Profit -- -- -- -- --
Operating income 5,801.48M 6,374.53M 6,490.23M 7,113.95M 7,049.51M
Income before tax 5,809.27M 6,483.83M 6,552.67M 7,120.96M 7,095.91M
Net income 4,518.83M 5,062.15M 5,206.87M 5,470.03M 5,590.61M
EBITDA -- -- -- -- --
Diluted EPS 1.23 1.31 1.34 1.41 1.44
Dividends Per Share 0.54 0.56 0.58 0.61 0.69
Total Assets 345,721.93M 363,758.20M 380,052.82M 395,276.24M 419,693.28M
Total liabilities 316,847.15M 331,450.46M 344,689.05M 356,830.58M 377,596.81M
Total equity 28,024.66M 31,231.09M 34,213.31M 37,364.70M 40,973.05M
Operating cash flow 4,476.66M 4,970.51M 6,099.87M 6,700.13M 5,678.95M
 Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018
Revenue 4,895.10M 4,597.32M 4,528.30M 4,517.87M 5,040.67M
Gross Profit -- -- -- -- --
Operating income 1,773.05M 1,630.45M 1,566.66M 1,654.59M 1,746.92M
Income before tax 1,775.43M 1,658.40M 1,581.73M 1,656.22M 1,758.42M
Net income 1,381.05M 1,294.77M 1,256.87M 1,272.24M 1,385.39M
EBITDA -- -- -- -- --
Diluted EPS 0.37 0.33 0.32 0.32 0.35
Dividends Per Share 0.16 0.14 0.14 0.14 0.17
Total Assets 98,876.57M 84,723.00M 84,719.75M 97,671.42M 101,559.16M
Total liabilities 90,618.37M 77,198.19M 76,836.61M 88,171.62M 91,372.48M
Total equity 8,015.06M 7,274.04M 7,626.68M 9,232.69M 9,914.83M
Operating cash flow 1,368.16M 1,271.33M 1,472.43M 1,558.34M 1,407.29M

Valuation Measures

Dec 2018
PER17.14
ROA1.37%
ROE14.27%
Operating margin34.65%
Profit margin27.48%

Key executives

  • Chief Executive Officer, MD & Executive Director: Ah Lek Tay
  • Co-Chief Operating Officer: Sulaiman bin Abdul Manap
  • Co-Chief Operating Officer: Siew Yen Chang
  • Chief Financial Officer & Head-Finance Division: Sook Ling Yik
  • General Manager-Information Technology: Yoke Fong Fam

Shareholders

  • Consolidated Teh Holdings Sdn. Bhd. (21.6%)
  • Employees Provident Fund (12.4%)
  • Kumpulan Wang Persaraan (3.1%)
  • The Vanguard Group, Inc. (2.8%)
  • BlackRock Fund Advisors (2.0%)
  • Permodalan Nasional Bhd. (1.8%)
  • Great Eastern Life Assurance Co. Ltd. (1.5%)
  • GIC Pte Ltd. (Investment Management) (1.3%)
  • LPI Capital Bhd. (1.0%)
  • Eastspring Investments (Singapore) Ltd. (0.9%)

Contact Details

Related Companies

  • Public Bank Group Officers' Retirement Benefits Fund
  • Public Bank OAO
  • Public Bank Vietnam Ltd.
  • Public Bank Bhd. (Vientiane Branch)
  • Public Holdings Sdn. Bhd.
  • Public Bank Bhd. (Colombo Branch)
  • P.B. Securities Sdn. Bhd.
  • Public Islamic Bank Bhd.
  • Cambodian Public Bank Plc
  • Viable Chip (M) Sdn. Bhd.
  • Public Investment Bank Berhad
  • PB Trustee Services Bhd.
  • Public Bank (L) Ltd.
  • Public Leasing & Factoring Sdn. Bhd.
  • Public Bank Group Officers Retirement Benefit Fund
  • Public Consolidated Holdings Sdn. Bhd.
  • HHB Holdings Bhd.
  • Public Financial Holdings Limited
  • PBFIN Bhd.

Competitors

  • CIMB Group Holdings Bhd
  • Malayan Banking Bhd.
  • AMMB Holdings Bhd.
  • RHB Bank Bhd.
Last Updated on 15 Jul, 2019

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