PUBLIC BANK MOBILISES OVER RM53 BLN IN SUSTAINABLE FINANCE

KUALA LUMPUR, May 8 (Bernama) -- Public Bank Bhd has mobilised more than RM53 billion of sustainable finance since 2020 which covers financing portfolio such as energy efficient vehicles financing, affordable home financing, corporate loans and green financing facilities.

In a statement today, the bank said it remains committed to drive sustainable best practices in line with its Sustainability Roadmap, targeting to mobilise a total of RM100 billion in sustainable finance by 2030.

Managing director and chief executive officer Tan Sri Dr Tay Ah Lek said the group will continue to be vigilant and agile, balancing growth and risks amid the changing business environment.

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“With the Malaysian economy expected to remain stable supported by domestic demand, we will continue to drive business growth riding on potential growth opportunities,” he said.

Tay said Public Bank will continue to stay abreast with market development and take appropriate strategic initiatives to sustain its leading market share in the financing, deposit and unit trust industry.

The group will continue to ensure that it remains well-capitalised and well-funded.

“Coupled with its resilient asset quality and prudent loan loss reserves, these will enable the group to generate sustainable profit moving forward,” he said.

Tay said the group also remains focused on strengthening its retail and commercial banking business, and will continue to drive digital transformation and focus on its sustainability commitments.

According to him, pushing ahead in digital transformation is part of the group’s sustainability agenda.

He noted that the group launched a new mobile app, the MyPB App, in November 2023.

-- BERNAMA