Public Bank (L) Ltd, a licensed Labuan bank, was incorporated under the Labuan Companies Act 1990 on 13 October 1990. It is a wholly owned subsidiary of Public Bank Berhad and was officially declared open by our former Prime Minister, Y.A. Bhg. Tun Dr Mahathir Mohamad on 14 October 1990. It is a pioneer Labuan bank and commenced operations on 15 October 1990.
Public Bank (L) Ltd has a Paid Up Capital of USD80 million. Our Parent Company, Public Bank Berhad, has given an unconditional undertaking and guarantee to Labuan Financial Services Authority for all liabilities and obligations of Public Bank (L) Ltd.
Range of services offered includes:
- Acceptance of deposits in all major currencies from Malaysian residents and non-residents.
- Granting of credit facilities in all major currencies of the world to both individuals and corporates.
- International banking services including foreign exchange trading (forward and spot), currency swaps and remittances.