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Finance

Public Bank Bhd.

  • 25.08 MYR
  • +0.06
  • +0.24%
  • Malaysia
    Sep 20, 2018
  • Ticker
    KLS(1295)
  • Prev. close
    25.02
  • Market cap (MYR)
    97,131.10M
  • Market cap (USD)
    23,475.77M
  • 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 and Others. The Hire Purchase segment provides passenger vehicle financing to all levels of customers. The Retail Operations segment provides products and services to individual customers and small-medium enterprises. The Corporate Lending segment funds needs of 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 is comprised 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 is mainly the non-core operations such as property holding. The company was founded by Hong Piow Teh in 1965 and is headquartered in Kuala Lumpur, Malaysia.

Financial Highlights

Dec 2017 MYRUSD
Revenue19,424.70M4,517.87M
Gross Profit----
Operating income7,113.95M1,654.59M
Income before tax7,120.96M1,656.22M
Net income5,470.03M1,272.24M
EBITDA----
Diluted EPS1.410.32
Dividends Per Share0.610.14
Total Assets395,276.24M97,671.42M
Total liabilities356,830.58M88,171.62M
Total equity37,364.70M9,232.69M
Operating cash flow6,700.13M1,558.34M
Currency in MYRCurrency in USD

Historical Data

 Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017
Revenue 14,578.52M 16,016.88M 17,974.03M 18,759.46M 19,424.70M
Gross Profit -- -- -- -- --
Operating income 5,298.25M 5,801.48M 6,374.53M 6,490.23M 7,113.95M
Income before tax 5,303.57M 5,809.27M 6,483.83M 6,552.67M 7,120.96M
Net income 4,064.68M 4,518.83M 5,062.15M 5,206.87M 5,470.03M
EBITDA -- -- -- -- --
Diluted EPS 1.12 1.23 1.31 1.34 1.41
Dividends Per Share 0.50 0.54 0.56 0.58 0.61
Total Assets 305,725.39M 345,721.93M 363,758.20M 380,052.82M 395,276.24M
Total liabilities 284,528.20M 316,847.15M 331,450.46M 344,689.05M 356,830.58M
Total equity 20,423.59M 28,024.66M 31,231.09M 34,213.31M 37,364.70M
Operating cash flow 3,071.94M 4,476.66M 4,970.51M 6,099.87M 6,700.13M
 Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017
Revenue 4,627.38M 4,895.10M 4,597.32M 4,528.30M 4,517.87M
Gross Profit -- -- -- -- --
Operating income 1,681.72M 1,773.05M 1,630.45M 1,566.66M 1,654.59M
Income before tax 1,683.41M 1,775.43M 1,658.40M 1,581.73M 1,656.22M
Net income 1,290.17M 1,381.05M 1,294.77M 1,256.87M 1,272.24M
EBITDA -- -- -- -- --
Diluted EPS 0.35 0.37 0.33 0.32 0.32
Dividends Per Share 0.15 0.16 0.14 0.14 0.14
Total Assets 93,337.01M 98,876.57M 84,723.00M 84,719.75M 97,671.42M
Total liabilities 86,865.57M 90,618.37M 77,198.19M 76,836.61M 88,171.62M
Total equity 6,235.25M 8,015.06M 7,274.04M 7,626.68M 9,232.69M
Operating cash flow 975.06M 1,368.16M 1,271.33M 1,472.43M 1,558.34M

Valuation Measures

Dec 2017
PER14.66
ROA1.41%
ROE15.28%
Operating margin36.62%
Profit margin28.16%

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%)
  • The Vanguard Group, Inc. (2.6%)
  • BlackRock Fund Advisors (1.8%)
  • Great Eastern Life Assurance Co. Ltd. (1.3%)
  • GIC Pte Ltd. (Investment Management) (1.1%)
  • LPI Capital Bhd. (1.0%)
  • Eastspring Investments (Singapore) Ltd. (1.0%)
  • Aberdeen Asset Managers Ltd. (0.9%)
  • Vontobel Asset Management, Inc. (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

    Last Updated on 20 Sep, 2018

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