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[公司专区] 1295 PUBLIC BANK 大眾銀行

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发表于 2009-9-15 19:24 | 显示全部楼层
PBB 的MARKET SHARE

1.LOAN MAY 09-15.5%
2.TOTAL DEPOSIT MAY 09-14.9%
3.Fund Management-43.7%

PBB 的主要业务是借贷业务,从上述的市占率来看, 只要国家经济不要太坏, 他还是有很大的成长空间.
PBB 的主要非利息/回教银行收入是FUND MANAGEMENT, 43.7% 的市的占率是我国最大的私人基金公司. 但还是有再扩大的空间.
除些之外, 大众还有其他刚起步的非利息收入. 如银行保险, Will writing.
近日来在大众的招聘广告中我们也不难发现大众在加大信用卡和银行保险业务员人数.

从大众和ING合作到和LPI 在柬埔寨合资开CAMPU LONPAC来看, 我个人怀疑大众下个目标会是保险业务.
与ING和LPI 的合作只是一个开始, PBB/LPI的合作如可以在柬埔寨成功, 这个组合模式可以推到印支半岛,也可以推进香港(进入大陆还有一定的难度). 和ING合作十年, 利用这十年建立起自己的保险团队后, 可以自己开设自己的保险公司(如国行批准), 不然可以和ING再合作十年, 但合约金肯定超过2亿.

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发表于 2009-9-17 19:56 | 显示全部楼层
本帖最后由 无花 于 2009-9-17 19:57 编辑

General Announcement
Reference No PB-090917-44440

Company Name  : PUBLIC BANK BERHAD  
Stock Name           : PBBANK  
Date Announced : 17/09/2009  


Type        : Announcement
Subject :

Public Bank Berhad
- Early Redemption of USD350 Million 5.625% Subordinated Notes Due 2014 Callable with Step-up in 2009

Contents        :
Public Bank ("PBB") had on 22 June 2004 issued USD350 million Subordinated Notes Due 2014 Callable with Step-up in 2009 at coupon rate of 5.625% per annum.

We wish to announce that notice of early redemption has been given to the noteholders that PBB will fully redeem the USD350 million 5.625% Subordinated Notes ("Subordinated Notes") together with accrued interest on 22 September 2009.

The Subordinated Notes, which are listed on the Singapore Stock Exchange, will be delisted with effect from 23 September 2009 upon full redemption by PBB on 22 September 2009.
               


Announcement Details :

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x 31
发表于 2009-9-18 19:32 | 显示全部楼层
提早贖回3.5億美元票據‧大眾銀行年省6800萬利息
大馬財經  2009-09-18 19:22
(吉隆坡)大眾銀行(PBBANK,1295,主板金融組)將在今年9月22日提早全面贖回總值3億5000萬美元(12億1500萬令吉)年利達5.625%的次級票據及累積的利息。
大眾銀行發文告表示,在大眾銀行全年贖回上述票據後,上述在新加坡股票交易所挂牌的次級票據將從今年9月23日起正式除牌。
益資利研究看好這項提早贖回票據計劃,認為大眾銀行應該趁現有的低利率環境,更好的使用所持有的412億令吉的現金,以降低利率開銷。
根據估計,這項提早贖回行動,可讓大眾銀行每年節省6800萬令吉的利息開支。
益資利繼續看好大眾銀行,認為大眾銀行維持超越平均的成長前景,還有股權回酬高和資產素質強穩的優點,給於“買進”評級,目標價為12令吉80仙。
根據益資利預測,大眾銀行2009年全年淨利為25億7000萬令吉,股息為70仙,相等於6.8%週息率;在2010年的淨利預測為30億1200萬令吉,股息估計為80仙,週息率7.8%。在2011年,淨利有望成長至33億5300萬令吉,股息為85仙,週息率8.3%。

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发表于 2009-9-19 13:36 | 显示全部楼层
http://ww2.publicbank.com.my/cnt_press280.html

PUBLIC BANK BERHAD
PUBLIC AFFAIRS DIVISION
12TH FLOOR, MENARA PUBLIC BANK
146 JALAN AMPANG
50450 KUALA LUMPUR
MALAYSIA
TEL : 03-2163 8888/ 2163 8899
FAX : 03-2168 8619 Website:www.publicbank.com.my

  
Note To Editors:
This press release is issued by  
Tan Sri Dato’ Sri Dr. Teh Hong Piow
Chairman of Public Bank
  
3 November 2008

   
Public Bank Sets Up Public Islamic Bank   


Public Bank is pleased to announce the setting-up of Public Islamic Bank Berhad, its wholly-owned subsidiary to carry out Islamic banking business with effect from 1 November 2008. With the commencement of the new entity, the Islamic banking business of Public Bank which has been conducted through the window concept will be transferred to Public Islamic Bank Berhad.

Public Islamic Bank will continue to share its parent bank's infrastructure, IT platform and branch network including the use of Public Bank's ATMs. Thus, the Islamic banking customers of the Public Bank Group will enjoy uninterrupted service and continue to perform all their Islamic banking transactions at all 242 Public Bank branches and 26 hire purchase centres in Malaysia. The existing savings passbooks, cheque books and ATM cards will remain valid and customers can continue to use them until further notice.

Public Bank started its Interest-Free Banking services in 1993 with the implementation of a dual banking system where Interest-Free Banking operates side-by-side with the conventional banking system. Due to the rapid development of Islamic banking in the country, a wide range of Shariah-compliant products and services has been introduced to cater for the diversified needs of the Public Bank Group's customers.

Public Bank's Islamic banking business has registered an average annual rate of growth of 25% over the last five years, contributing significantly to Public Bank's profitability. As at 30 September 2008, Islamic banking assets stood at RM 14.6 billion or 7.7% of the total assets of the Group. Islamic financing stood at RM 12.4 billion or 10.5% of the total loans and advances of the Group while customers' deposits stood at RM 11.9 billion or 7.6% of the total customers' deposits of the Group.

Moving forward, the setting up of Public Islamic Bank reflects the Group's strong commitment to further enhance the Group's Islamic banking business in line with the objectives of Bank Negara Malaysia's Financial Sector Masterplan.

Public Islamic Bank will leverage on the Public Bank Group's proven management team, strong PB brand and large network of branches. Islamic banking products and services will continue to be made available through multiple delivery channels, from over-the-counter services to online access such as telebanking and Internet banking.

Similar to Public Bank, Public Islamic Bank will remain focused on consumer and retail commercial financing and deposit-taking businesses. Nevertheless, it will explore new opportunities in the Islamic capital market to take advantage of the incentives provided under the Malaysian International Islamic Financial Centre as well as working towards the setting up of an Islamic International Currency Business Unit.

Tuan Haji Ismail bin Ibrahim has been appointed Chief Executive Officer of Public Islamic Bank Berhad. He was the General Manager of Islamic Banking of Public Bank prior to his appointment to head the Islamic banking subsidiary.


* * * * * * * *



Tuan Haji Ismail bin Ibrahim, Chief Executive Officer of Public Islamic Bank Berhad

* * * * * * * *

For more information, please contact:
Tuan Hj. Ismail bin Ibrahim
Chief Executive Officer
Public Islamic Bank Berhad
Tel. No.: 03-2176 6420
Fax: (603) 2162 2224
E-mail: ismail@publicbank.com.my

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发表于 2009-9-26 14:17 | 显示全部楼层
本帖最后由 无花 于 2009-9-26 14:20 编辑

在大众的第三季季度报告出炉前, 让大家旧梦重温下

原址 http://cforum3.cari.com.my/viewthread.php?tid=1202487&page=1

【ChooKF分析】PBBANK-失衡的駟馬車

PBBANK是馬來西亞管理最好的銀行!廢話,這大家都懂,但到底怎樣好法???
存款增長快,貸款額增長快;帶動收益增長,但呆帳只有1.23%;因呆帳低,所以股東與資產回報為同行最高;資本適足比率處於良好水平,達13.6%;而且派息率高......旗下的信托業務,名譽為同行之最;保險業務的綜合比例低。PBBANK是好公司,這無可質疑的,它也是唯一沒在97/98金融風暴出現虧損的銀行,這麼多好處,現在是否值得投資呢?


PBBANK的潛在隱憂
「專業」分析員稱PBBANK雖然是大資本公司,但仍高速成長,為此振奮不已!其實,PBBANK自2003年開始,成長已經開始出現不平衡了!實際成長可說已暗藏日後的「危機」(「危機」這詞可能有些誇張), 先看看PBBANK的盈利:
1995=303,400  1996=408,000  1997=274,900 
1998=51,226  1999=616,141
*PBBANK自97/98金融風暴後,在1999年就恢復風暴前的盈利,甚至遠遠超越風暴前
2000=716,865  2001=700,078  2002=770,237 
*2000-2002年,盈利增長緩慢,陷入停滯,複增長率是3.4%
2003=974,186   2004=1,266,988  2005=1,450,281 
2006=1,795,161  2007=2,201,786 
2008首季=扣除Goddwill Payment,實際盈利517,387,比去年同期增長8.6%
*2003-2008年首季,盈利出現驚人成長,複增長率是23%
PBBANK的股價也從2003年中擺脫盤整,開始了上升旅途。
PBBANK的派息率,一直以來都在50%左右。
進入2004年,派息率高達167%;2005年90%;2006年84%;
2007年88%;4年支付的股利高達6,887,066(68億8千7百萬)
各位PBBANK的股東是否感覺很爽???
但是,「危機」就此種下了!


銀行是如何提高盈利的,方法可以說出一大堆,但若要穩健的成長,就是資本必須不斷的增加,資本增加,才能做更多生意,若資本不增加,再怎樣成長,都有一定的侷限。而PBBANK的股東投入資本,自1995年的2,117,500,經過金融風暴,仍可穩建成長至2003年的8,617,795。但自2004年開始了高股利政策,至2008年首季,只有8,757,697,可見投入資本沒增加。投入資本沒增加,那PBBANK的2004-2007年盈利是如何年增長23%的呢?
答案是:外求資本!這期間,PBBANK的資本增加了86,011,703!(8百60億)
其中:銀行存款增加72,254,014 (7百22億), 發行新股1,505,062 (15億), 發行次級票據2,829,055 (28億),2008年起未來5年又發行50億次級票據(Subordinated Notes)這本來沒問題,銀行本來就是「借錢滾錢」的「財務槓桿」行業,PBBANK的呆帳率仍很低,但是,資產回報率卻從未派發高股利時的1.50%,跌至2007年的1.26%。
這裡我嚴重聲明,PBBANK的爛賬還是很低,資產回報還是很高,甚至是同行之最。盡然如此,還有什麼問題呢?
PBBANK目前看不出問題,但關鍵在於,財務槓桿總有一個極限,否則會造成抵禦災難來臨的能力下降,而且一旦監管失誤,就會造成嚴重損失!多數人有種錯誤觀念,認為銀行很穩定,其實,只要了解銀行是如何賺錢,就知道銀行的風險很高!請想一下,日本80年代末經濟泡沫爆裂後的銀行;2007年的美國次級房貸危機,多少間金融機構遭殃,其中包括世界最大的銀行CITI GROUP!PBBANK過往的財務槓桿情況如下:
1995=15.6倍  1996=14.8倍  1997=14.5倍
*PBBANK金融風暴前的財務槓桿
1998=12.9倍  1999=11.5倍  2000=10.0倍 
2001=8.5倍  2002=9.0倍  2003=7.5倍
*金融風暴後財務槓桿逐漸降低
2004=10.7 倍2005=13.1倍  2006=16.3倍  2007=18.6倍 
*因高股利政策,導致收益無法留存,債務提高了8百60億,財務槓桿越來越高,超越了金融風暴前的水平,若無高股利政策的話,那股本約有11,927,839,財務槓桿約有14.9倍
如果銀行過度的運用財務槓桿,會增加經營風險,一旦經濟環境轉壞,或者為追求短期利潤而忽視風險,如過度放貸、投資衍生產品、資產證券化等,財務槓桿越擴大,潛在風險越增加,以下是CITI GROUP的財務槓桿變化:
2000=13.6倍 2001=12.9倍 2002=12.6倍 2003= 12.9倍
2004=13.5倍 2005=12.2倍 2006=15.7倍
*2001年發生911,進入低利率時代,2006-07年為抗通膨,轉為升息
2007=19.2倍----->>次貸爆發,CITI GROUP虧損幾百億美金。
你們知道CITI GROUP在次貸爆發前,財務狀況如何嗎?
呆帳率  =1.32% (夠低吧?) 資產回報 =1.14% (收益優良)
資本適足率=11.65%(高於標準)  風險加權資本比率=5.16% (高於標準)
雖然在執行巴塞爾II條例和沒有強制轉移25%的常年盈利至法定儲備下,PBBANK的資本比率料也將獲得提升。其銀行風險加權資本比率(RWCR)和資本適足率(CAR),料將可分別取得70個基點和50個基點的增長。但是,鑒於CITI GROUP的例子,
可見這些衡量風險的計算方法,不能充分反映出未來的潛在風險!


PBBANK的價值估算
PBBANK最新財務數字對比股價是(截筆時):
股價:RM11.40  對比 NTA :RM 2.61 =4.37倍
股價:RM11.40  對比 2007 EPS:RM 0.629=18本益比
股價:RM11.40  對比 2008 EPS:RM 0.690=16本益比 (個人預估)
因行業結構問題,銀行利潤再怎樣高,都有個界限,其股價不應超過NTA的3倍,而PBBANK卻有4.37倍,顯然過於昂貴..PBBANK因股價太高,投資風險性也較高..如果現在買進PBBANK,那你是多付9個月的錢,先為2008年未知的業績埋單!假如PBBANK可繼續最少3年以最少15%的盈利成長,那現在買PBBANK肯定能賺到錢!前提是未來成長可持續..我估計今年盈利約2,222,823-2,380,288, EPS RM 0.66-RM 0.71之間!


PBBANK的成長真的沒問題嗎?
PBBANK在發行新的50億次級票據後,財務槓桿會高達20 / 21倍,就風險管理而言,已到了頂限!因2008年股市低迷,相信它的信託銷售及股票相關業務,盈利縮減可能性高;
建築領域放緩,不少大型計劃的取消,會減少借貸活動;PBBANK近期宣布與ING保險公司合作,通過本身的基建設備和網絡,在全國銷售ING保險的銀行保險產品,分析員估計可提高PBBANK08財政年和09財政年的盈利4.5%和4.2%,每年可達70億至100億。簡而言之,PBBANK的未來成長,還是有不少未知因素!我早前說過,成長需要資本,PBBANK的資本雖提高,但卻是建立在激烈的財務槓桿運作,實際上已達極限,若不控制降溫,隨時有引火燒身的風險,何況誰能知道大環境何時轉壞呢?因本地成長空間已經飽和,新市場已不多,只能努力開拓殘渣和搶對手的市場。海外的盈利雖增長31.5%,但佔集團2006年的稅前盈利13.7%,只微升到2007年的14.5%,短期不可能給PBBANK帶來顯著成長。2004年以來的成長,主要還是建立在高財務槓桿下,長期下去是無法持續的,估計其盈利成長會緩慢下來!若它還出現快速成長的情況,那絕非好事,反而更加危險,財務槓桿不斷提高,只要時辰一到,必然遭到反噬!所以,別以為PBBANK的盈利成長遠大於同行,一定是好事,這是要付出代價的!PBBANK要降溫,必須要先犧牲短暫的盈利,以及股價的下跌。
1.減少股利,降至30%以下的派息率
 但這會引發股東不滿,造成股價下跌!像某證券分析員說:『PBBANK未來5年發售50億令吉的次要債券,將可增加該集團的股息派發額。』可見重視短期利益之心態多熱烈,完全忽視長期風險。
2.加強風險管理,複查貸款素質
3.減少財務槓桿的借貸投資,努力增加股本


PBBANK的投資者該如何處理?
如果一早投資PBBANK,那不必隨意賣出,只要好消息不斷,股價會起,就守住。
但要知道潛在風險所在,一旦發現增長趨緩、財務槓桿越發嚴重,或感覺不對,就賣出!
至於沒買進者,還是別買,反正好股票又不只1個......
PBBANK就像一輛失衡的駟馬車,
一隻急奔;一隻吃力追趕;一隻緩慢行走;一隻停下吃草;
這樣的馬車,你認為能跑多快?跑多遠?
唯有停下調整步伐,才能穩健行走,否則必然出事!
請直接瀏覽,及支持我的BLOGhttp://cblog.cari.com.my/html/69/218069.html

黑俠04/05/2008

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发表于 2009-10-8 14:46 | 显示全部楼层
本帖最后由 ThermoFisher 于 2009-10-8 16:16 编辑

Monday, August 10, 2009
The Million Dollar Question .....


It had to happen, and it did when Mr. Ooi asked the question that everyone in the financial markets industry dreaded.

Ooi Beng Hooi has left a new comment on your post "Buy Side Vs Sell Side Analysts":

I fail to understand why the calls made by various analysts are so different.

For example, after released of Public Bank quarterly result, some of the calls made by various analysts:

CIMB: Outperform, target price RM 11.10
AMResearch: Buy, target price RM 10.00
Inter-Pacific: Outperform, target price RM 9.75
Kenanga Research: Buy, target price RM 9.30
OSK: Buy, target price RM 8.60
Mayban Investment Bank: Sell, target price RM 7.60
Credit Suisse: Underperform, target price RM 7.50
UOB KayHian: Hold, target price RM 6.88
Citigroup: Sell, target price RM 5.77

Some have "BUY" calls, some have opposite calls and one have neutral position.

Even though Public Bank is considered a transparent listed company with high disclosure of corporate information compared to others, I am a bit surprised to see such wide range of target price, with the highest one almost double the lowest target price.

How can they be so different?

-------------

Financial markets are like economics, its a lot of bullshitting and a small amount of substance. You put 10 economists in a room to come out with a paper on why and how the current global crisis came about, you will probably get a few people killed and still no conclusion at the end of a week.

Put the same issue to a group of scientists, and they will explore the various theories and categorise them accordingly. They will then set up the various testing hypotheses, hopefully they can result in some for of data, hopefully then they can regress the data into some for of equation, hopefully once they have the equation then they can draw a fucking line on a chart, and make the conclusions from the fucking chart. Gawd save them if they cannot get solid data, gawd help them if the data is all over the place, gawd save them if they can cluster the data into a regressed equation, no equation = no formula = no result, no no equation cannot draw line on chart = fucking hopeless study = watse of time.

The difference is if you give financial markets issues to a group of scientists, they will throw their papers and binders in the air after a few months and conclude that the "truth" is nowhere to be found, that you cannot conclusively determine anything from an empirical type of study or testing. Still, the economists, analysts and experts will continue shouting their views and opinions to each other - because in bull shitting you do not need substance, evidence or credibility.

Put 10 analysts in a room to analyse Public Bank, thats what you get. Its a hopeless profession that happens to pay well. Never has so much pay been given to so many for so little contribution!!! Parents now don't want their children to be doctors or lawyers... go be an analyst or fund manager and make 5x times more than the smartest kid who went to study medicine.

Analysts' views will almost always be different because their assumptions are not the same. Some may assume a NPL of 6% over the next 12 months, some just 4% while others may see it at 11%, and that will work its way into your earnings model and risk assumptions. There are many other important assumptions that one has to make in order to do projections: it could be growth, margins compression, staffing cost, local interest rates in 6 months time, in 18 months time, ..etc.

Then you have to make the more important arguments, which are more 'philosophical' and big picture: has Public Bank gone past the "easy growth" era; can Public Bank translate the "winning strategy" in other countries; what will happen after Teh Hiong Piau; are foreign funds holding too much of Public Bank (which means they can only be selling in the future, not buying more); etc...

I have mentioned this time and time again, look for consistency of results in the analysts and house strategy. Follow those who have argued well in the past, look for those who are focused on the more important factors correctly. And... always try to get hold of the extremes, in this case get a hold of: CIMB's which has a new outrageous TP of RM14.10, OSK's which has a TP of RM11.00 and the Citigroup sell which has the TP at RM5.77, and the UOB Kay Hian TP of RM6.88.

They all are different because they have chosen on different ways of interpreting what is good value, what is fair value, and which prevailing FACTORS will be dominating the share price going forward. OSK has held on to the notion that PB's strong loans and deposit growth and superior asset quality will be the focal points for the stock, thus allowing PB's to retain its premium rating and performance.

CIMB's outrageous TP basically affirms that no matter what the management is solid enough to counter and withstand any succession issues. CIMB thinks that earnings growth momentum will remain strong, supported by PB' superior ROE in the 20s, greater contribution from China and new avenue in bancassurance.

Maybank Investment has since upgraded the TP from RM7.60 to RM9.00, but still lagging the rest. They are negative because they see valuations having run ahead of fundamentals. They think that long term ROEs will be in the 15%-18% range rather than the 20s as was predicted by CIMB. The team also felt that beyond the present market rally, the economic recovery remains hazy.

If you ask me, I think CIMB is too fuzzy and trigger happy, all caught up with the partying mode. PB's current valuations have run way ahead. I am not seeing much upside at all, in fact I see it settling between RM8.50-RM10.50 for the next 12 months. The valuations and impressions I get is that it has "no room" for disappointment. It trades at a ridiculously high 80% premium in proice-to-book valuations against its peers - whether justified or not, it clearly show very little upside, unless you think it will trade at 120% premiums??!! My final say on PB, is that its not a stock you want to be holding in a market rally!!! Its a stock you want to be holding in a flat or negative market, its a fucking defensive stock.

So, Mr. Ooi, hope that clears it up a bit, not a defence by any means but hey... we have to remember that accounting is a modern day creation, so too is a stock market, we did not have both 150 years ago (I think). When its a man made thing (and not a natural science like physiscs or biology), it is very very hard to nail down what is the truth at any point in time. It becomes who can bullshit better.


Posted by Salvatore_Dali at 1:33 PM   
http://malaysiafinance.blogspot.com/2009/08/million-dollar-question.html

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发表于 2009-10-12 21:20 | 显示全部楼层
General Announcement
Reference No PB-091009-44159  

Company Name : PUBLIC BANK BERHAD   
Stock Name  : PBBANK   
Date Announced : 12/10/2009   

Type : Announcement
Subject : Quarterly Announcement on Percentage of Public Bank ("PBB") Shares of RM1.00 Each Held by Foreigners as at 30 September 2009

Contents : We would announce for public information that as at 30 September 2009, 25.96% of the issued shares of PBB were held by foreigners. The percentage is computed based on the total number of PBB shares in issue and after excluding PBB shares bought-back by PBB and retained as treasury shares as at 30 September 2009.

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发表于 2009-10-13 11:55 | 显示全部楼层
更新: October 13, 2009 02:17

大眾銀行
外資持股26%


(吉隆坡12日訊)截至今年9月30日,大眾銀行(PBBANK,1295,主要板金融)外資持股率已提高至25.96%。

大眾銀行今日向馬交所報備指出,截至今年9月30日的外資持股率稍微改善,由6月底的24.9%,微揚至25.96%。

文告說,大眾銀行是以所發行的股票(扣除回購但充作庫存的股票)為計算標準。

大眾銀行今年首半年的外資持股權已跌至紀錄新低,惟截至9月份的外持股已有所改善,但已連續4個季度徘徊在30%以下。

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发表于 2009-10-14 13:44 | 显示全部楼层
第3季業績料無驚喜‧大眾銀行單季可賺6.3億
http://biz.sinchew-i.com/node/28040

    * 大馬財經

2009-10-13 16:58

(吉隆坡)大眾銀行(PBBANK,1295,主板金融組)2009財政年第3季料不會捎來驚喜,馬銀行研究預估這間銀行單季將取得6億3000萬令吉淨利,促使首9個月淨利走高至18億3000萬令吉,並上調全年淨利3%至24億7900萬令吉。

此外,大眾銀行2009年核心淨利料微揚2%,2010年則走高9%,主要催化劑為貸款基礎擴大,且單位信托基金、保險及財富管理業務持續增長。在貸款增長及淨利息賺幅趨穩帶動下,第3季淨利息收益應可繼續上探。

這間銀行預定在本週內公佈第3季業績。

海外業務貢獻低

馬銀行研究也調升大眾銀行2010及2011年淨利預估1至2%,至26億9200萬及29億7100萬令吉。

這間銀行香港業績面臨的貸款虧損撥備將持續發生,惟情況已在9月持穩,而集團第3季的信貸收費可能因香港的零售貸款而高企。

大眾銀行海外首半年貸款業務微跌0.2%,目前仍未回揚,而淨利息賺幅則持續受壓。海外業務的貢獻頗低,佔集團首半年稅前盈利的11%及貸款的12%,香港佔當中的4.5及9.5%。

為此,此集團2009年15%成長目標主要是由國內營運業務帶動,香港的貸款業務料只在今年杪回籠,而柬埔寨子公司也緩慢成長。

大眾銀行的資產素質維持強韌,尤其是國內業務。集團的淨呆賬率從去年12月的0.86%,改善之截至6月的0.8%,且近幾個月資產素質並沒有面對較大問題。馬銀行研究預計這間銀行今年杪的呆賬率為0.85%,貸款虧損撥備則為7億零700萬令吉。

維持57%派息率“我們維持這間銀行每股派息55仙預估,相等於57%派息率。截至6月,此集團總共派發8050萬庫存股(以45送1方式),相等於6.1%淨週息率。”

淨資本適足率回跌至8%

大眾銀行在6月發售12億令吉的合訂證券後,淨資本適足率改善至9.5%。在扣除8月13日派發的中期股息及9月22日提早贖回總值3億5000萬美元的無優先權票據後,馬銀行研究預估淨資本適足率回跌至8%。

由於此集團正放眼小額發售第一級混合式證券,因此有望在年杪的淨資本適足率調高至8.5%。

雖然全球市場認為高資本要求將在年杪成形,不過相信只在2010後才落實。馬銀行研究指出,就算實行有關條例,也不會顯著影響大眾銀行,因為這需要進行籌資活動。

大眾銀行截至6月核心第一級資本比料為6.4%,不過份析員預估2010年杪將走高至7.3%。

若包括預估中的股票回撥(在2010年1月後執行FRS139),核心第一級資本比或接近8%,更可能減低2010年的派息額。

“處在8%以上,核心第一級資本比每上升1基點將必須籌措12億至14億令吉新資本。”

另外,大眾銀行6月外資持股率走跌至近期24.9%低點,不過9月卻回揚至25.96%。儘管外資回籠促使股價存有上探空間,不過份析員認為這無法捎來即時效應,因為國內市場的本益比估值仍高於區域。

隨這間公司的信貸風險疑慮消除,馬銀行研究將大眾銀行的評級從“賣出”上調至“持有”,目標價也從9令吉調升至10令吉80仙,主要考量為長期性15至18%股本回酬、9.4%股票成本及5%業務增長。
星洲日報/財經‧2009.10.13
http://biz.sinchew-i.com/node/28040

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发表于 2009-10-14 14:00 | 显示全部楼层
http://www2.orientaldaily.com.my ... pmq19Ry0JLK1FW64Ym9

業績料無驚喜,信貸風險消除 大眾銀行投資評級上調
姚思敏

(吉隆坡13日訊)儘管對於大眾銀行將在本週公佈的09財政年第三季業績並無抱著驚喜的預測,但是隨著該銀行的信貸風險消除,分析員上調該銀行至「守住」評級。

隨著該集團擴展貸款基礎和在信託、銀行保險與財務管理業務持續取得成長,分析員料其核心淨利分別在09和2010年取得2%和9%的成長。

另外,該集團即將在本週公佈09財政年第三季業績。馬投資銀行分析員預測,該銀行將會取得6億3000萬令吉的淨利(按年漲2%,按季則漲3%),這將會提高其首9個月的核心盈利至18億3000萬令吉(按年上升3%)。

此外,存款利率2月份之後逐步下調,讓貸款穩定成長和淨利息賺幅(NIM)也持穩,因此第三季的淨利息收入料將維持成長趨勢。儘管如此,其香港業務料繼續受到大筆貸款虧損撥備(LLP)所影響。因此,預測香港零售貸款會讓第三季的信貸核銷(credit charge)提高(次季為29個基點),而本地營運的信貸核銷則維持穩定。

資產素質維持彈性

另一方面,中小型企業通過抵押融資,買進非住宅和零售產業,促使09年的貸款成長持續。此外,其資產素質也維持彈性。該集團截至今年6月份的淨呆帳率(NPL),從去年12月份的0.86%,下降至0.8%,同時,近期並無看到資產素質呈現嚴重下降的趨勢。

「因此,我們料09下半年的信貸核銷將會和首半年29個基點水平相同。」他們預測,該集團將在09年12月份寫下0.85%的淨呆帳率,信貸核銷為30個基點。貸款虧損撥備預料為7億700萬令吉(09年首半年則是3億3700萬令吉)。

「隨著調低貸款虧損撥備,我們分別將09年的淨利預測提高3%,而2010至11年則是提高1至2%。」相比於本地營運,海外營運依然緩慢。同時,海外營運貢獻仍然很少,只是佔該集團的09上半年稅前盈利的11%,和貸款的11%。

自今年6月份發出12億令吉債券後,大眾銀行的風險加權資本比率(RWCR)和核心資本率分別改善至14.6%和9.5%。此外,在扣除該集團配發的中期股息和贖回價值3億5000萬美元(12億2500萬令吉)次級債券之後,其資本率將會折返至13%(風險加權資本比率)和8%(核心資本率)。

整體而言,分析員將該集團的投資評級從「賣出」,提高至「守住」,而目標價格為10.80令吉。

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发表于 2009-10-14 19:09 | 显示全部楼层
408# bluecandc


OSK research mention PBB will annouce its 3Q09 result tomorrow.

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发表于 2009-10-14 19:31 | 显示全部楼层
股东们, 你们的公司有帮你们做好事了


For Immediate Release

7 October 2009
         
       
Public Bank Gives IJN Child Heart Patients Reason to Smile With RM38,000 in Hampers and Cash

       
       
In the spirit of sharing and caring, Public Bank as a socially responsible corporate citizen donated RM30,000 to the Institut Jantung Negara (IJN) Foundation in support of the Foundation's new children's wear line called "Heartthrob Biri", the proceeds from the sales of which would go towards helping poor and needy children undergoing treatment at the Institute.

The cheque amount, being part of the sales proceeds of Public Bank Founder and Chairman Tan Sri Dato' Sri Dr. Teh Hong Piow's biography entitled Teh Hong Piow - A Banking Thoroughbred, was presented by Public Bank's General Manager of Public Affairs Division, En. Razak Dali, to Datin Julini Mohd Ali, Chairman of IJN Foundation's Fundraising and member of the Board of Trustees of IJN Foundation, yesterday at the IJN Hospital.

Public Bank also gave 60 child heart patients a reason to smile in this festive season by sponsoring a hamper and RM50 duit raya for each of these children who are presently undergoing surgical procedures or are recuperating in the intensive care units. Staff from the Bank were on hand to present these goodies to the children at the IJN Paediatric Ward.

The IJN has been a CSR partner of the Bank since 2007, with the Bank donating RM100,000 each year to the IJN Foundation in the past two years to assist financially needy heart patients requiring treatment at the Institute.

The "Heartthrob Biri" children's wear line consists of more than 20 designs of clothes and hand-painted shoes for children ranging from two to 12 years old. The clothes and shoes are sold at an outlet in the IJN Hospital, with prices ranging from RM16-90 to RM50-90.

Public Bank had also hosted a two-day sale from 14 to 15 September 2009 at Menara Public Bank, Jalan Ampang, to promote this line of children's wear to its 2,000-strong staff based at the Bank's headquarters.

As a bank for the public that is committed to excellence, Public Bank aspires to continue playing its nation-building role to enhance the welfare of the community in which it operates in the years to come.

* * * * * * * *



Bringing cheer to the children: Datin Julini and En. Razak presenting a goody bag and duit raya to one of the children at IJN's paediatric ward



En. Razak presenting the cheque to Datin Julini, accompanied by staff of Public Bank and IJN Foundation

* * * * * * * *

For more information, please contact:
En. Razak Dali
General Manager
Public Affairs Division
Tel. No.: 03-2176 6420
* * * * * * * *

       

         
        Copyright © 1966-2009 Public Bank Berhad (6463-H)
ALL RIGHTS RESERVED

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发表于 2009-10-15 07:58 | 显示全部楼层
........
En. Razak presenting the cheque to Datin Julini, accompanied by staff of Public Bank and IJN Foundation

* * * * * * * *

For more information, please contact:
En. Razak Dali
General Manager
Public Affairs Division
Tel. No.: 03-2176 6420
* * * * * * * *

        

         
        Copyright © 1966-2009 Public Bank Berhad (6463-H)
ALL RIGHTS RESERVED


不知道此DALI是不是彼DALI

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发表于 2009-10-15 13:13 | 显示全部楼层
SUMMARY OF KEY FINANCIAL INFORMATION
30/09/2009

INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
30/09/2009
30/09/2008
30/09/2009
30/09/2008
$$'000
$$'000
$$'000
$$'000
1Revenue
2,438,035
2,791,159
7,220,116
7,942,750
2Profit/(loss) before tax
856,508
804,047
2,421,218
2,566,245
3Profit/(loss) for the period
647,425
627,527
1,863,177
1,966,053
4Profit/(loss) attributable to ordinary equity holders of the parent
639,045
616,340
1,839,071
1,927,262
5Basic earnings/(loss) per share (Subunit)
18.52
18.37
53.66
57.44
6Proposed/Declared dividend per share (Subunit)
0.00
0.00
30.00
30.00








AS AT END OF CURRENT QUARTER
AS AT PRECEDING FINANCIAL YEAR END
7
Net assets per share attributable to ordinary equity holders of the parent ($$)
2.9836
2.8420

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发表于 2009-10-15 13:36 | 显示全部楼层
414# 无花

我对业绩相当满意,第四季应该也可以平稳度过。。。

希望标叔能早日康复。。。

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发表于 2009-10-15 14:20 | 显示全部楼层
419# tan81

大众银行实力雄厚,第四季应能更上一城楼。。。。

Highlights of the Public Bank Group’s Performance

·  Net profit attributable to shareholders was RM1.84 billion for the nine months
ended 30 September 2009 as compared to RM1.93 billion in the previous
corresponding period. Excluding the one-off goodwill income from ING in 2008,
the Group’s underlying operating net profit increased by 3% as compared to the
corresponding period last year.

·  Annualised net return on equity (“ROE”) stood at 25.5%.

·  Cost to income ratio remains efficient at 34.6%.

·  Earnings per share (“EPS”) was 53.7 sen, showing an uptrend on a quarter-toquarter
comparison of 17.5 sen in the first quarter, 17.7 sen in the second quarter,
and 18.5 sen in the third quarter of 2009.

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发表于 2009-10-15 23:54 | 显示全部楼层
本帖最后由 ThermoFisher 于 2009-10-15 23:56 编辑

大眾銀行首3季淨賺18億

(吉隆坡15日訊)大眾銀行(PBBANK,1295,主要板金融)不懼金融危機,再創佳績,在利息與融資收入增長9%的帶動下,首9個月淨利錄得18億4000萬令吉。

截至9月30日首9個月,大眾銀行營業額報72億2000萬令吉,按年滑落9%,淨利則因為去年的一項銀行保險商譽特別收入,按年下跌4.6%。

在第三季度,大眾銀行營業額跌12.7%,達24億3800萬令吉,淨利揚升3.7%至6億4000萬令吉,連續3季表現正面。

截至9月底,總貸款額增129億令吉或10.7%,達1336億令吉,相等于年成長率14.3%,大步超越業內的6.8%增長率,未履約貸款率(NPL)維持在1%以下。

總資產2090億

大眾銀行董事經理兼總執行長丹斯里鄭亞歷說,09年貸款成長仍朝14至15%的目標前進,未脫軌,推動力來自中小企業(SME)、房貸及車貸需求量上升。

客戶存款增加204億令吉或12.6%,達1827億令吉。香港和柬埔寨大眾銀行亦分別上漲15.6%及53.6%。

大眾銀行總資產值達2090億令吉,再擴大129億令吉。股票回酬(ROE)為25.5%。

鄭亞歷指出,全球經濟衰退正逐步復甦,銀行業前景料獲得改善,惟市場競爭加劇,賺幅將繼續面對壓力。

“集團將維持高素質的貸款組合及改善生產力,同時提高風險管理,從中加強內部業務成長。”

他坦言,排除突發事件,料大眾銀行盈利將保持成長動力,繼續錄得滿意表現。

財報今日出爐,股價未有大波動,閉市時平盤報10.62令吉,成交量226萬5000股。


大眾信託
資產管理值漲45%


大眾銀行獨資子公司大眾信託(Public Mutual),首9個月資產管理值按年勁漲45%,達338億令吉。

截至9月底,大眾信託單位信託銷售額達61億令吉,其中第三季佔60.7%,或37億令吉,相較首季7億令吉及次季17億令吉。

9月份,大眾信託于私人界的單位信託管理市佔率,從08年底的39%提高至44%。

大眾信託投資戶頭增至220萬個,並擁有超過4萬名諮詢員。

另外,大眾銀行集團將通過基建的顯著投資,續推出新產品,以加強銀行保險業務發展。

首9個月銀行保險產品銷售按年高漲64%。

為擴大投資選擇,公司已推3項附有保障的架構投資產品。

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发表于 2009-10-16 00:00 | 显示全部楼层
貸款存款成長推動 
大眾銀行第三季賺6.4億

(吉隆坡15日訊)大眾銀行(PBBANK,1295,主板金融股)09財政年第三季業績,受貸款與存款增長的推動,促使淨利按年揚升近3.2%,寫下6億4742萬令吉,並把現財政年首9個月的淨利推高至18億6317萬令吉。

相比於上一財政年的6億2752萬7000令吉,大眾銀行的09財政年第三季淨利微升3.17%,報6億4742萬5000令吉,而今年首9個月的淨利則達到18億6317萬7000令吉,比去年同期的19億6605萬3000令吉低5.23%。

針對大眾銀行的最新業績,馬銀行投資銀行分析員早前預測,該銀行將會取得6億3000萬令吉的淨利(按年漲2%,按季則漲3%),一併提高其首9個月的核心盈利至18億3000萬令吉。因此,該銀行最新盈利表現是比該分析員預期來得高。

表現符分析員預期

僑豐投資銀行分析員也認為,大眾銀行首9個月的表現符合他們的預期,佔其全年預測73%。以2010財政年盈利的14.5倍本益比估算,該分析員給予大眾銀行11.80令吉的目標價格,投資評級為「買進」,並指該股可望獲得重新評級的機會,因為其盈利與股息都有意外上升空間。

無論如何,大眾銀行在去年同期因為銀行保險分銷的區域策略聯盟,而面對ING帶來2億令吉的一次過商譽收入。在剔除這筆收入後,該銀行的首9個月稅前營運盈利和淨利,分別漲升2.3%及3.2%。

上述盈利表現的提升,主要來自淨利息及融資收入的8.6%強勁成長,還有其他營運收入上升9.9%所支撐。

儘管隔夜政策利率3度調低,但該銀行表現仍持穩,其中優質貸款與客戶存款的成長,以及依然穩定的資產素質,都是不可或缺的因素。然而,營運開銷和貸款撥備增加,稍微抵銷了貢獻。

營業額按年滑落12%

在09財政年第三季,大眾銀行的營業額從去年同季的27億9115萬9000令吉,按年滑落12.65%,至24億3803萬5000令吉。另外,該銀行今年首3季的營業額為72億2011萬6000令吉,比上一財政年的79億4275萬令吉低9.1%。

大眾銀行取得14.3%的強勁按年貸款成長及19.5%的核心存款成長,明顯高於銀行系統的6.8%和6.3%。此外,該銀行的呆帳率依然持穩在1.0%以下。年初迄今,其股本回酬率為25.5%。

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发表于 2009-10-28 14:49 | 显示全部楼层
本帖最后由 小宝84 于 2009-10-28 14:54 编辑

0637 GMT [Dow Jones] STOCK CALL: Morgan Stanley upgrades Public Bank (1295.KU) to Overweight from Equal-weight, raises target price to MYR13.60 from MYR11.90; says Public Bank is worst performing bank stocks in Asia year to date"(domestically), it now trades at a P/E discount to Malaysian banks and the market." Adds, Public Bank is among Asia's best-managed banks: "consistently above industry growth, returns and asset quality are hallmarks of Public Bank." Says easing capital concerns, acceleration in growth and reduction in risk appetite are keys to stock outperformance. Shares last flat at MYR10.70. (PVA)

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发表于 2009-11-2 17:19 | 显示全部楼层
General Announcement
Reference No PB-091102-59617  

Company Name : PUBLIC BANK BERHAD   
Stock Name  : PBBANK   
Date Announced : 02/11/2009   


Type : Announcement
Subject : Press Release by Public Bank



Contents : Public Bank is pleased to disclose for public information that Tan Sri Dato’ Sri Dr. Teh Hong Piow, its Non-Executive Chairman, has fully recovered from a minor operation which he had undergone recently. The Bank is also pleased to inform the public that Tan Sri Dato’ Sri Dr. Teh Hong Piow is in very good health.

Tan Sri Dato’ Sri Dr. Teh Hong Piow, the founding and single largest shareholder who owns total interests of 24.08% in Public Bank, has stressed that he has absolutely no intention of selling his stake in Public Bank, and he remains fully committed to Public Bank which he founded and has so passionately built to its present stature over the past 43 years.

The market rumours on Tan Sri Dato’ Sri Dr. Teh Hong Piow selling out his stake in Public Bank are totally unfounded and absolutely without basis.

2 November 2009

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