KUALA LUMPUR, The family of Public Bank Bhd founder, the late Tan Sri Teh Hong Piow, has reduced its shareholding in Malaysia’s third-largest bank by assets, which closed at a two-week low on Thursday.
According to the bank’s filing, Consolidated Teh Holdings Sdn Bhd, representing Hong Piow’s estate, sold 50 million shares, equivalent to a 0.26% stake in the bank. Following the sale, the Teh family’s stake now stands at 4.72 billion shares, or 22.02%, down from 22.28% as of end-February.
In October last year, Hong Piow’s daughter Diona Teh Li Shian said the family is required to gradually pare down its stake to 10% within five years through a restricted offer for sale (ROFS), in compliance with the Financial Services Act. The Employees Provident Fund (EPF) remains another major shareholder, holding 3.47 billion shares, or 17.86% of Public Bank.
Last December, Public Bank completed its RM1.72 billion acquisition of a 44.15% stake in LPI Capital Bhd from the Teh family’s estate via Consolidated Teh Holdings, at RM9.80 per share.
For the second quarter ended June 30, 2025 (2QFY2025), the bank’s net profit slipped slightly to RM1.76 billion from RM1.78 billion a year earlier, mainly due to lower non-taxable income. However, net interest income grew 5.1%, while non-interest income rose 15% year-on-year.
In the first half of FY2025, Public Bank’s net profit increased 2.05% to RM3.51 billion, supported by a 4.1% rise in net interest income and a 17.5% increase in non-interest income. Public Bank’s shares ended five sen or 1.15% lower at RM4.29, giving it a market capitalisation of RM83.3 billion.
