Public Bank (RM 3.97 per share on 18/5/2023)

Income Statement

Public Bank Bhd
Dec 2022

 Interest Income 16.79 B

 Interest Expense 5.76 B

 Loan Loss Provision 365.56 M

 Non-Interest Income 3.33 B

Balance Sheet

Public Bank Bhd

Dec 2022

 Investments 81.84 B

 Net Loans 387.86 B

 Total Deposits 394.72 B

 Tier 1 Capital 46.78 B

 Book Value Per Share 2.59 

Comments:  

Net Loans:  Commercial & Industrial Loans 98.4B; Consumer & Installment Loans 258.1B; Broker & Financial Institution Loans 15.6B, and others.

Total Deposits:  Demand Deposits 68.7B; Savings/Time Deposits  326B.

Loans are well diversified to various borrowers.  The majority of deposits are in Saving/Time Deposits.

Cash Flow 

Public Bank Bhd

Dec 2022

 Net Financing Cash Flow +25.93 B

 Free Cash Flow +2.00 B

 Cash Flow Per Share +0.18  

 Free Cash Flow Per Share +0.14 

Free Cash Flow Yield 4.39%

Comments:  

Its net interest income = 10.66 B.  

Its non-interest income or fee income is about 31% of its net interest income.

It loans out 4.73x more than the amount it invested.

Its total deposits are more than its net loans.  

Given its Tier 1 Capital, it only has to borrow a small amount.

Earnings & Estimates 

Public Bank Bhd 

Qtr. EPS Est. +0.10  Q1 2023

Qtr. Year Ago +0.07 Q1 2022 

Ann. EPS Est. +0.35 FY 2023

Ann. Year Ago +0.32 FY 2022 

Comments:  

At RM 3.97 per share, it is trading at a future 2023 P/E of 11.3x.

Per Share Data 

Public Bank Bhd 

All values updated annually at fiscal year end 

Earnings Per Share +0.32

Sales 1.04 

Tangible Book Value 2.45

Operating Profit - 

Working Capital -8.45

Long Term Liabilities - 

Capital Expenditure 0.01

Capital Expenditure TTM 0.01 

Ratios & Margins 

Public Bank Bhd 

All values updated annually at fiscal year end 

Valuation 

P/E Ratio (TTM) 12.59 

P/E Ratio (including extraordinary items) 12.53 

Price to Sales Ratio 4.17 

Price to Book Ratio 1.67 

Price to Cash Flow Ratio 10.96 

Enterprise Value to EBITDA 11.08 

Enterprise Value to Sales 5.06 

Total Debt to Enterprise Value 0.41 

Total Debt to EBITDA - 

EPS (recurring) 0.32 

EPS (basic) 0.32 

EPS (diluted) 0.32 

Comments:  

At Price to Book Ratio of 1.67, and taking into consideration its efficiency, ROE and ROA, it is trading at a fair price.

Efficiency 

Revenue/Employee - 

Income Per Employee - 

Receivables Turnover - 

Total Asset Turnover 0.04 

Liquidity 

Current Ratio 0.14 

Quick Ratio - 

Cash Ratio - 

Profitability 

Gross Margin - 

Operating Margin +43.82 

Pretax Margin +43.88 

Net Margin +30.41 

Return on Assets 1.28 

Return on Equity 12.45 

Return on Total Capital 10.62 

Return on Invested Capital 8.88 

Comments:  

The high operating margin and the high pretax margin show that this bank is run efficiently.

The ROA and ROE are indicative of a well run and profitably run bank.

Capital Structure 

Total Debt to Total Equity 76.90 

Total Debt to Total Capital 43.47 

Total Debt to Total Assets 7.82 

Interest Coverage - 

Long-Term Debt to Equity 59.39 

Long-Term Debt to Total Capital 33.57 

Long-Term Debt to Assets 0.03

Comments:  

Its total asset/total equity is about 9.0 x.  It is not over-leveraged.  

The largest banking corruption scandal in history - The Libor Banking Scandal

Published on 4 Jul 2012 by 2012sprint

Watch this video to understand the largest banking corruption scandal in history. These large banks have stolen money from every single human on the planet. Not one person was left out. Not even YOU! Now that it is exposed there is no going back. We will ALL support the "NO MORE BAILOUT" mantra...

This one will not go away. It was not planned to go away like other "banking scandals". This one will build and build and build until it is known by every man, woman and child on the planet. This is the exposure that will END the bad guys reign.

I've said it over and over: Timing, timing, timing.

The evil vampire banksters have been stabbed in the heart with various stakes in the past few months but this one is by far the largest. (note: the last one will be made of SILVER so be ready for it!)

http://www.roadtoroota.com/public/570.cfm?awt_l=Hj.JM&awt_m=3aquxoPW7V4C85B

Know this: All is going as planned for the Good Guys.

May the Road you choose be the Right Road.

Bix Weir
www.RoadtoRoota.com
--------------------------------------------------------------------------------­----------------------
VIDEO:"Viewpoint" host Eliot Spitzer, Matt Taibbi, Rolling Stone contributing editor, and Dennis Kelleher, president and CEO of Better Markets, analyze the Libor interest rate--rigging scandal engulfing the banking industry.

Barclays CEO Bob Diamond recently resigned after the bank was fined $453 million for its part in the scandal, which involved manipulating the London Interbank Offered Rate (Libor), a key global benchmark for interest rates, by essentially "faking their credit scores," according to Taibbi. And as Taibbi explains, Barclays couldn't have acted alone.

"It can't just be Barclays and the Royal Bank of Scotland. In fact, it can't even be four banks or even five banks," he says. "Really, in the end it's probably going to come out that it's going to be all of them ... involved in this. And that's what's critical for people to understand: that this is a cartel-style corruption."

Kelleher argues that the Libor scandal is proof that the financial industry "is corrupt and rotten to its core." "The same executives [using] the same business model that crashed the entire financial system in '08 are still running these banks," he says.

'The mob learned from Wall Street': Eliot Spitzer on the 'cartel-style corruption' behind Libor scam
July 3, 2012
http://current.com/shows/viewpoint/videos/the-mob-learned-from-wall-street-el...

The Biggest Financial Scam In World History
http://www.infowars.com/the-biggest-financial-scam-in-world-history/

Barclays Brawl: 'Elite manipulated market, UK laws only give slap on wrist'
http://www.youtube.com/watch?v=mSWUowKuSzI

Keiser Technique for financial criminals
http://www.youtube.com/watch?v=tcbtHeQSrmw&list=UUpwvZwUam-
--------------------------------------------------------------------------------­----
Some norwegian links:
http://e24.no/boers-og-finans/jeg-elsker-barclays/20250028
http://e24.no/boers-og-finans/barclays-hevder-bank-of-england-oppmuntret-til-...
http://e24.no/moody-s-nedgraderer-barclays/20250282
http://www.dn.no/forsiden/utenriks/article2429409.ece
http://www.dn.no/forsiden/borsMarked/article2429806.ece
http://www.dagbladet.no/2012/07/05/kultur/religion/vatikanet/paven/cern/22432...

Bank fraud: know your rights

Bank fraud: know your rights
Adam Courtenay
August 10, 2010
Short of being physically held up by thieves, one of the more disquieting modern day experiences is being pilfered electronically.

Anyone who has had an account stripped clean of cash, either online, through credit card fraud or by card skimming, will know all about the panic and fear that ensues.

These were the emotions that overcame Peter Westhuyzen* when he discovered on a Monday morning earlier this year that his cheque account at St George had been plundered of $4000.

He immediately phoned St George, who asked him to report the theft to his branch in central Sydney. He knew one thing – he only ever used a single ATM in Sydney’s CBD. When he arrived early at the branch, Westhuyzen discovered about 30 other people waiting outside who had been similarly hit over the weekend.

All had used the same ATM and all had had money stripped via another ATM based in Canberra. Some had even been double-fleeced, once from the Canberra ATM and a second time from another in London.

It is believed a skimming device had been fitted at the “mouth” of the machine to copy the person’s card details. A micro-camera would then have been installed by the thieves to capture the pin number as the person keyed it in. The gang would have then transferred the skimmed data to a counterfeit card and the robberies were easily perpetrated remotely.

Most new machines have shields placed onto their key pads, or are chip and pin “capable”. That is, they use computer chips to store information rather than the more easily-cloned magnetic stripes. All Australian ATMs must be chip and pin “capable” by January 1, 2011. Westhuyzen was swiftly reimbursed as it was clear the fraud had occurred on a large scale. Generally, in obvious cases such as the above, banks refund quickly.

What basic protections do customers have? Banks, credit unions and building societies must subscribe to the Electronic Funds Transfer Code, which protects consumers who use electronic banking such as ATMs and Eftpos, or telephone and internet banking, to transfer funds.

The Australian Securities and Investment Commission has a detailed “Fido” page on its website, which clearly details the rights of customers – and the obligations of banks – when fraud occurs.

Customers are only liable if they are said to have acted with “extreme carelessness”. This may mean that they had given their pin number or online contact details to a friend or family member, but questions may also arise if a theft has not been promptly or accurately reported.

ANZ has a Fraud Money-Back Guarantee which will fully re-credit a customer’s account “as long as they have not contributed to the loss and have notified the bank promptly”. The bank will reimburse claims of up to $10,000 within five business days of receiving completed documentation.

In most cases customers are sent out dispute forms and asked to indicate which transactions were fraudulent. “We send this through to customer repatriation and people generally get their money back within a week," says Brett Small, head of financial crime at National Australia Bank.

Online, things are less clear. Is responding to a convincing “phishing” email tantamount to “extreme carelessness”? In these cases customers are sent an email, and from there induced by a fake website to give out account details. If a bank site has been cloned, is it the fault of the bank or personal negligence on the customer’s part?

Gary Schwartz, an IT expert who runs the website jargonfreehelp.com, says it is worth having up-to-date security software on personal computers to help disprove any possible charge of negligence. All the same, he agrees software plays only a small part in protecting bank, credit card details and other accounts like PayPal, where money is moved.

"Common sense plays the biggest part in all this," Schwartz says. "If you get an email with links to your bank, PayPal or any other website that requires a login to an account, do not click on the link, go to your browser and type in the website address to see if it is the real thing."

Banks claim their protective technology is now more proactive than reactive. Small says NAB can now detect 90 per cent of fraud cases “within minutes or seconds”. The big four banks use technology that throws up red flags when transactions fall outside the customer’s normal usage patterns – patterns based on geography, amount and time.

“It would ask why a transaction is happening at 2.00 am, and why in the UK? We can see hundreds of anomalies in real time and stop it in real time if necessary,” Small explains.

There are now also extra layers of security such as tokens which display changing numbers that must be punched in to complete an online transfer, as well as SMS alerts to inform customers of any large money movements.

There are times when the bank will question the validity of a fraud, and in these situations, things may not go so smoothly. Small says a bank has to protect itself from false “victims” and the bank has a highly trained team of fraud examiners which will question customers – politely, of course.

“We ask the customer to fill out a statutory declaration and also a police report. These are measures designed to make them think twice [about committing a fraud],” he says.

*Not his real name.

http://www.smh.com.au/money/on-the-money/bank-fraud-know-your-rights-20100810-11ums.html