How Public Bank Started?
Public Bank, one of Malaysia’s top banks known for its integrity, trust, and good governance.
The bank drives its business through knowledge, expertise, hard work, and a focus on customer service driven by a sustainable approach.
Moreover, Public Bank has won the 'Best Bank in Malaysia' award from Alpha Southeast Asia at its 15th Annual Financial Institution Awards.
Teh Hong Piow is the founder and Chairman of Public Bank Berhad in Malaysia.
He began his banking career in 1950 as a Bank Clerk in Overseas-Chinese Banking Corporation Ltd and became an officer within five years.
He joined Malayan Banking Berhad as Manager in 1960. Later in 1964, he was promoted to the position of General Manager at the young age of 34.
Then two years later, he established Public Bank.
Tan Sri Teh is currently the Chairman Emeritus, Director, and Adviser of Public Bank Group. He also holds leading positions in various organizations such as Public Foundation, Malaysia, and LPI Capital Berhad, Malaysia.
How Public bank was created.
Public Bank was founded in 1966 by Teh Hong Piow. On 6 August of the same year, it started its business at its first branch.
It was located at Jalan Gereja in Kuala Lumpur. It provided banking services to people in Malaysia.
The next year, on April 6th, Public Bank was listed on the Bursa Malaysia Securities Berhad.
Mission and Values
The reason why a corporation manages to work its way to the top is because of its persistent way of sticking to its missions and values.
Public Bank’s mission is to sustain the position of being the most efficient, profitable, and respected premier financial institution in Malaysia.
While their values are to provide the most courteous and efficient service in every aspect of its business and to be innovative in the development of new banking products and services.
For the community, on the other hand, is by assuming its role as a socially responsible corporate citizen and adhering closely to national policies and objectives to contribute towards the progress of the nation.
Public Bank has expanded to Hong Kong and China, Vietnam, Cambodia, Laos, and Sri Lanka. They focus banking on consumers in Hong Kong and China while in Vietnam, Cambodia, Laos, and Sri Lanka they focus on retail banking.
With the completion of the acquisition of Asia Commercial Bank in Hong Kong, which was renamed Public Bank (Hong Kong) Ltd in May 2006, the scale and scope of the group’s overseas business have expanded significantly in Hong Kong and Greater China.
Public Bank in Hong Kong has added 12 commercial bank branches to the existing 40 branches of Public Finance in Hong Kong and Public Bank’s Hong Kong branch, making a total of 53 in Hong Kong.
Why is Public Bank Successful
Why Public Bank is able to be one of Malaysia’s top banks is because they keep up their corporate excellence since the beginning and have embarked on a digital transformation journey along the way.
They made sure to always meet the future needs and expectations of the people and focus on taking its performance to the next level.
Teamwork across business lines has also always been a key factor in its success. They value human capital as well, which has been crafted to not only attract the desired talents but also to retain and develop these talents to their greatest potential.