Risk Management - Public Bank | PBeBank.com

publicbank • 65
Together with on-going training programmes for staff
development and career advancement and the introduction
of new products, processes and technology, the Public
Bank and Public Finance staff training expenditure
increased by 16% to RM16 million in 2003.
The Public Bank Group’s mindful commitment to its staff is
also demonstrated by its performance-based remuneration
system. Priority is accorded to performing staff to fill
vacancies in higher positions instead of through external
appointments. In 2003, further options to subscribe for 111
million Public Bank shares were granted to 7,920
performing staff, making a total of 572 million share
options granted under the existing Employees’ Share Option
Scheme of Public Bank, of which 240 million share options
have been exercised by the end of 2003.
The strong desire of staff to seek career advancement within
the Public Bank Group is seen in the high percentage of
current senior management and branch management staff,
86% of whose appointments were from within the Group.
This trend is anticipated to continue because of the
beneficial impact of the Group’s performance-based
remuneration system.
TO THE COMMUNITY
As a major Malaysian banking and financial services group
with extensive presence throughout the country, the Public
Bank Group is continuously mindful of the needs and
welfare of the community at large. The unbroken
profitability track record of Public Bank since it started in
1966 has enabled Public Bank to continue to play an active
role as a socially responsible corporate citizen besides
being a significant contributor to the country’s finances as
a tax payer.
In 2003, the Public Bank Group’s financial contributions,
commitment and support for initiatives in promoting
education, academic excellence, environment conservation
and the welfare of the needy and less fortunate amounted
to over RM14 million.
AWARDS AND RECOGNITION
The Public Bank Group’s commitment to the pursuit of
excellence has again been recognised by the awards
conferred on Public Bank in 2003. In particular, Public
Bank’s efforts in fulfilling its commitment to excellent
corporate governance practices and the strong financial
performance of the Group continued to be recognised by
the numerous awards received in 2003, some of which are
for consecutive number of years.
In recognition of Public Bank’s excellent corporate conduct,
the Malaysia Stock Exchange Berhad again awarded the top
KLSE Corporate Excellence Awards 2003 for the Main
Board to Public Bank, making it four consecutive years
since the inauguration of the KLSE Corporate Awards in
2000. The winning of the top KLSE Corporate Excellence
Award, which pays tribute to the outstanding companies
that have demonstrated exemplary conduct in complying
not only with the letter but the spirit of requirements and
regulations, for each and every year since the start of the
KLSE Corporate Awards four years ago, is a clear testimony
of the exceptionally high standards of corporate governance
adhered to by the Group and its consistently strong
financial performance.